Royal Bank of Canada Reiterates Outperform Rating for Loar (NYSE:LOAR)

Loar (NYSE:LOAR)‘s stock had its “outperform” rating reissued by analysts at Royal Bank of Canada in a report issued on Monday, Benzinga reports. They currently have a $80.00 price objective on the stock. Royal Bank of Canada’s price objective would suggest a potential upside of 6.54% from the stock’s current price.

Several other research firms also recently issued reports on LOAR. Citigroup boosted their price objective on shares of Loar from $64.00 to $88.00 and gave the stock a “buy” rating in a report on Tuesday, August 20th. Morgan Stanley upped their price target on Loar from $55.00 to $70.00 and gave the company an “equal weight” rating in a report on Wednesday, August 14th.

Loar Trading Up 2.2 %

Shares of LOAR opened at $75.09 on Monday. The company has a current ratio of 4.86, a quick ratio of 3.09 and a debt-to-equity ratio of 0.33. Loar has a one year low of $42.57 and a one year high of $80.79. The stock has a fifty day moving average price of $71.04.

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 business had revenue of $97.10 million for the quarter, compared to analyst estimates of $91.70 million. Loar’s revenue was up 31.2% on a year-over-year basis. As a group, equities analysts predict that Loar will post 0.44 EPS for the current year.

Institutional Investors Weigh In On Loar

Large investors have recently made changes to their positions in the company. Renaissance Capital LLC acquired a new stake in Loar during the 2nd quarter valued at $497,000. TCW Group Inc. acquired a new stake in shares of Loar in the second quarter valued at $7,366,000. Zweig DiMenna Associates LLC bought a new position in shares of Loar in the second quarter valued at about $9,208,000. Calamos Advisors LLC acquired a new position in Loar during the 2nd quarter worth about $492,000. Finally, Bank of New York Mellon Corp bought a new stake in Loar during the 2nd quarter worth about $439,000.

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.