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

Royal Bank of Canada reissued their outperform rating on shares of Loar (NYSE:LOAR) in a research report sent to investors on Tuesday morning,Benzinga reports. The firm currently has a $92.00 target price on the stock.

Loar Stock Performance

NYSE:LOAR opened at $71.19 on Tuesday. The company has a debt-to-equity ratio of 0.78, a quick ratio of 2.28 and a current ratio of 3.95. The firm’s 50-day moving average is $71.08 and its 200-day moving average is $76.95. Loar has a 52-week low of $42.57 and a 52-week high of $96.99.

Loar (NYSE:LOAR) last issued its quarterly earnings results on Monday, March 31st. The company reported $0.11 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.11. The firm had revenue of $110.40 million for the quarter, compared to the consensus estimate of $102.51 million. The business’s revenue for the quarter was up 27.8% compared to the same quarter last year. As a group, analysts forecast that Loar will post 0.28 earnings per share for the current year.

Institutional Investors Weigh In On Loar

Several institutional investors and hedge funds have recently bought and sold shares of LOAR. Vanguard Group Inc. lifted its holdings in shares of Loar by 132.4% during the 4th quarter. Vanguard Group Inc. now owns 2,721,325 shares of the company’s stock worth $201,133,000 after acquiring an additional 1,550,581 shares during the period. TimesSquare Capital Management LLC lifted its stake in Loar by 159.8% during the fourth quarter. TimesSquare Capital Management LLC now owns 1,066,525 shares of the company’s stock worth $78,827,000 after purchasing an additional 656,016 shares during the period. Wasatch Advisors LP acquired a new stake in Loar during the fourth quarter valued at approximately $40,347,000. Lord Abbett & CO. LLC grew its stake in shares of Loar by 71.7% in the 3rd quarter. Lord Abbett & CO. LLC now owns 1,009,558 shares of the company’s stock valued at $75,303,000 after purchasing an additional 421,637 shares during the period. Finally, Norges Bank acquired a new position in shares of Loar in the 4th quarter worth approximately $30,326,000.

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.