Loar (NYSE:LOAR) Given Outperform Rating at Royal Bank of Canada

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

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

Loar Trading Down 1.3 %

Shares of Loar stock traded down $1.04 during trading on Thursday, reaching $81.13. The company had a trading volume of 129,156 shares, compared to its average volume of 299,003. Loar has a fifty-two week low of $42.57 and a fifty-two week high of $95.35. The firm’s fifty day moving average is $78.45 and its 200-day moving average is $65.80. The company has a debt-to-equity ratio of 0.33, a quick ratio of 3.09 and a current ratio of 4.86.

Loar (NYSE:LOAR) last released its earnings results on Tuesday, August 13th. The company reported $0.13 EPS for the quarter, topping analysts’ consensus estimates of $0.10 by $0.03. The firm had revenue of $97.10 million for the quarter, compared to the consensus estimate of $91.70 million. The firm’s revenue was up 31.2% on a year-over-year basis. Sell-side analysts forecast that Loar will post 0.37 EPS for the current year.

Institutional Trading of Loar

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Polar Asset Management Partners Inc. acquired a new position in Loar in the third quarter worth approximately $306,000. HighTower Advisors LLC acquired a new position in shares of Loar in the 3rd quarter worth $290,000. Holocene Advisors LP acquired a new stake in shares of Loar during the third quarter worth $267,000. PDT Partners LLC purchased a new stake in shares of Loar during the third quarter valued at $1,636,000. Finally, Verition Fund Management LLC acquired a new position in shares of Loar in the 3rd quarter valued at $727,000.

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.