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

Loar (NYSE:LOAR)‘s stock had its “outperform” rating reissued by stock analysts at Royal Bank of Canada in a research report issued to clients and investors on Tuesday,Benzinga reports. They currently have a $92.00 target price on the stock. Royal Bank of Canada’s price target would suggest a potential upside of 19.29% from the company’s previous close.

Loar Stock Up 8.1 %

NYSE LOAR opened at $77.12 on Tuesday. The company has a debt-to-equity ratio of 0.78, a current ratio of 3.95 and a quick ratio of 2.28. The business’s fifty day moving average price is $70.99 and its 200-day moving average price is $76.95. Loar has a 1-year low of $42.57 and a 1-year high of $96.99.

Loar (NYSE:LOAR) last announced its quarterly earnings data on Monday, March 31st. The company reported $0.11 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% on a year-over-year basis. As a group, research analysts anticipate that Loar will post 0.28 EPS for the current year.

Institutional Trading of Loar

Hedge funds have recently modified their holdings of the company. Charles Schwab Investment Management Inc. raised its holdings in Loar by 52.3% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 106,897 shares of the company’s stock valued at $7,973,000 after buying an additional 36,701 shares during the period. The Manufacturers Life Insurance Company purchased a new position in Loar during the 3rd quarter valued at about $1,247,000. BNP Paribas Financial Markets boosted its position in Loar by 3,444.3% during the 3rd quarter. BNP Paribas Financial Markets now owns 10,633 shares of the company’s stock valued at $793,000 after acquiring an additional 10,333 shares in the last quarter. Captrust Financial Advisors lifted its position in shares of Loar by 9.8% during the third quarter. Captrust Financial Advisors now owns 10,471 shares of the company’s stock valued at $781,000 after buying an additional 938 shares during the last quarter. Finally, Verition Fund Management LLC purchased a new position in Loar in the third quarter worth $727,000.

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.