Loar (NYSE:LOAR) PT Raised to $88.00

Loar (NYSE:LOAR) had its target price boosted by Citigroup from $64.00 to $88.00 in a research note released on Tuesday morning, Benzinga reports. The brokerage currently has a buy rating on the stock.

LOAR has been the topic of a number of other research reports. Jefferies Financial Group began coverage on shares of Loar in a report on Monday, June 3rd. They set a buy rating and a $65.00 price objective on the stock. Royal Bank of Canada lifted their price target on shares of Loar from $65.00 to $80.00 and gave the company an outperform rating in a research note on Wednesday, August 14th. Finally, Morgan Stanley raised their price objective on Loar from $55.00 to $70.00 and gave the company an equal weight rating in a report on Wednesday, August 14th.

Loar Stock Up 3.4 %

NYSE LOAR opened at $70.18 on Tuesday. Loar has a 1-year low of $42.57 and a 1-year high of $76.94. The business’s 50 day moving average price is $60.66. The company has a debt-to-equity ratio of 1.26, a current ratio of 3.09 and a quick ratio of 1.68.

Loar (NYSE:LOAR) last posted its quarterly earnings data on Tuesday, August 13th. The company reported $0.13 earnings per share for the quarter, topping the consensus estimate of $0.10 by $0.03. The company had revenue of $97.10 million during the quarter, compared to the consensus estimate of $91.70 million. The business’s revenue was up 31.2% on a year-over-year basis. Sell-side analysts expect that Loar will post 0.5 earnings per share for the current year.

Institutional Trading of Loar

A number of institutional investors and hedge funds have recently made changes to their positions in LOAR. TCW Group Inc. acquired a new stake in shares of Loar during the 2nd quarter valued at $7,366,000. Renaissance Capital LLC bought a new position in shares of Loar in the 2nd quarter worth about $497,000. Abrams Capital Management L.P. bought a new position in shares of Loar during the 2nd quarter worth approximately $2,052,780,000. TD Asset Management Inc acquired a new stake in Loar in the second quarter worth $545,000. Finally, Federated Hermes Inc. bought a new stake in Loar in the 2nd quarter valued at about $38,952,000.

About Loar

Loar Holdings Inc is a diversified manufacturer and supplier of niche aerospace and defense components for aircraft and aerospace and defense systems. Loar Holdings Inc is based in WHITE PLAINS, NY.