Loar’s (LOAR) Outperform Rating Reaffirmed at Royal Bank of Canada

Loar (NYSE:LOAR)‘s stock had its “outperform” rating reaffirmed by equities research analysts at Royal Bank of Canada in a note issued to investors on Thursday,Benzinga reports. They presently have a $100.00 price objective on the stock. Royal Bank of Canada’s price target points to a potential upside of 23.76% from the stock’s previous close.

LOAR has been the topic of several other research reports. Morgan Stanley lifted their target price on shares of Loar from $70.00 to $75.00 and gave the company an “equal weight” rating in a report on Friday, October 18th. Citigroup boosted their price objective on Loar from $64.00 to $88.00 and gave the stock a “buy” rating in a research note on Tuesday, August 20th.

Loar Price Performance

NYSE LOAR opened at $80.80 on Thursday. The company has a quick ratio of 3.09, a current ratio of 4.86 and a debt-to-equity ratio of 0.33. Loar has a 1-year low of $42.57 and a 1-year high of $95.35. The business’s 50-day simple moving average is $78.90 and its 200-day simple moving average is $66.13.

Loar (NYSE:LOAR) last announced its quarterly earnings results on Tuesday, August 13th. The company reported $0.13 earnings per share for the quarter, beating analysts’ consensus estimates of $0.10 by $0.03. The business had revenue of $97.10 million for the quarter, compared to analyst estimates of $91.70 million. The firm’s revenue for the quarter was up 31.2% compared to the same quarter last year. On average, research analysts anticipate that Loar will post 0.37 earnings per share for the current year.

Hedge Funds Weigh In On Loar

A number of institutional investors have recently added to or reduced their stakes in LOAR. Arcadia Investment Management Corp MI purchased a new stake in shares of Loar during the second quarter worth about $26,000. Amalgamated Bank purchased a new stake in Loar during the 2nd quarter worth approximately $37,000. nVerses Capital LLC acquired a new position in shares of Loar in the 3rd quarter valued at approximately $45,000. Linonia Partnership LP purchased a new position in shares of Loar during the 2nd quarter valued at approximately $53,000. Finally, RiverPark Advisors LLC acquired a new stake in shares of Loar during the second quarter worth approximately $155,000.

About Loar

Loar Holdings Inc, through its subsidiaries, designs, manufactures, and markets aerospace and defense components for aircraft, and aerospace and defense systems in the United States and internationally. It offers products in various categories, which include airframe components, structural components, avionics, composites, braking system components, de-ice and ice protection, electro-mechanical, engineered materials, flight controls, fluid and motion controls, environmental, metal forming, molded components, and restraints and safety devices.