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

Loar (NYSE:LOAR)‘s stock had its “outperform” rating reaffirmed by analysts at Royal Bank of Canada in a report issued on Tuesday,Benzinga reports. They currently have a $92.00 price target on the stock. Royal Bank of Canada’s price objective would indicate a potential upside of 29.45% from the company’s current price.

Loar Price Performance

Shares of LOAR traded up $0.42 during mid-day trading on Tuesday, hitting $71.07. The company’s stock had a trading volume of 294,881 shares, compared to its average volume of 407,436. Loar has a one year low of $42.57 and a one year high of $96.99. The stock’s 50-day moving average is $71.31 and its two-hundred day moving average is $77.01. The company has a quick ratio of 2.28, a current ratio of 3.95 and a debt-to-equity ratio of 0.78.

Institutional Trading of Loar

A number of large investors have recently made changes to their positions in the company. Vanguard Group Inc. boosted its holdings in shares of Loar by 132.4% in the 4th quarter. Vanguard Group Inc. now owns 2,721,325 shares of the company’s stock valued at $201,133,000 after buying an additional 1,550,581 shares during the last quarter. TimesSquare Capital Management LLC grew its holdings in shares of 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 last quarter. Wasatch Advisors LP acquired a new position in shares of Loar in the fourth quarter worth approximately $40,347,000. Lord Abbett & CO. LLC grew its holdings in Loar by 71.7% during the 3rd quarter. Lord Abbett & CO. LLC now owns 1,009,558 shares of the company’s stock worth $75,303,000 after acquiring an additional 421,637 shares during the period. Finally, Norges Bank bought a new position in Loar during the fourth quarter worth $30,326,000.

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.