Loar (NYSE:LOAR) Price Target Raised to $80.00 at Royal Bank of Canada

Loar (NYSE:LOAR) had its price target raised by Royal Bank of Canada from $65.00 to $80.00 in a report issued on Wednesday morning, Benzinga reports. They currently have an outperform rating on the stock.

Several other analysts have also issued reports on LOAR. Morgan Stanley upped their price target on shares of Loar from $55.00 to $70.00 and gave the stock an equal weight rating in a research report on Wednesday. Jefferies Financial Group assumed coverage on shares of Loar in a research report on Monday, June 3rd. They issued a buy rating and a $65.00 price target for the company. Finally, Citigroup assumed coverage on shares of Loar in a research report on Monday, May 20th. They set a buy rating and a $64.00 price target on the stock.

Loar Trading Down 2.3 %

Shares of LOAR stock opened at $74.95 on Wednesday. The company has a quick ratio of 1.68, a current ratio of 3.09 and a debt-to-equity ratio of 1.26. The stock has a 50 day moving average price of $59.60. Loar has a 12 month low of $42.57 and a 12 month high of $76.94.

Loar (NYSE:LOAR) last released its quarterly earnings results on Tuesday, August 13th. The company reported $0.13 earnings per share for the quarter, beating analysts’ consensus estimates 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. The firm’s revenue for the quarter was up 31.2% on a year-over-year basis. On average, equities analysts anticipate that Loar will post 0.5 earnings per share for the current fiscal year.

Institutional Trading of Loar

Several hedge funds have recently bought and sold shares of LOAR. Driehaus Capital Management LLC bought a new stake in Loar during the second quarter worth $2,436,000. Select Equity Group L.P. bought a new position in shares of Loar during the 2nd quarter worth $911,000. Linonia Partnership LP bought a new stake in Loar during the 2nd quarter valued at $53,000. Squarepoint Ops LLC purchased a new stake in Loar during the 2nd quarter worth about $3,365,000. Finally, Fred Alger Management LLC bought a new position in Loar in the 2nd quarter worth about $13,085,000.

About Loar

Loar Holdings Inc is a diversified manufacturer and supplier of niche aerospace and defense components for aircraft and aerospace and defense systems. Loar Holdings Inc is based in WHITE PLAINS, NY.