Loar (NYSE:LOAR) Receives Outperform Rating from Royal Bank of Canada

Royal Bank of Canada reaffirmed their outperform rating on shares of Loar (NYSE:LOAR) in a report released on Thursday,Benzinga reports. They currently have a $100.00 price objective on the stock.

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

Loar Stock Performance

Shares of LOAR stock opened at $80.80 on Thursday. The company has a debt-to-equity ratio of 0.78, a current ratio of 3.95 and a quick ratio of 3.09. The company’s fifty day simple moving average is $78.90 and its 200-day simple moving average is $66.22. Loar has a 12 month low of $42.57 and a 12 month high of $95.35.

Loar (NYSE:LOAR) last released its quarterly earnings data on Wednesday, November 13th. The company reported $0.15 EPS for the quarter, beating the consensus estimate of $0.13 by $0.02. The company had revenue of $103.52 million during the quarter, compared to analyst estimates of $97.30 million. The company’s quarterly revenue was up 25.0% compared to the same quarter last year. On average, research analysts predict that Loar will post 0.37 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Loar

Large investors have recently added to or reduced their stakes in the stock. Arcadia Investment Management Corp MI acquired a new stake in Loar during the second quarter worth approximately $26,000. nVerses Capital LLC acquired a new stake in Loar during the third quarter worth approximately $45,000. Amalgamated Bank bought a new stake in Loar during the second quarter worth $37,000. Linonia Partnership LP bought a new stake in Loar during the second quarter worth $53,000. Finally, RiverPark Advisors LLC bought a new stake in Loar during the second quarter worth $155,000.

Loar Company Profile

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.