Loar (NYSE:LOAR) Price Target Cut to $92.00 by Analysts at Royal Bank of Canada

Loar (NYSE:LOAR) had its target price cut by equities research analysts at Royal Bank of Canada from $100.00 to $92.00 in a research report issued to clients and investors on Monday,Benzinga reports. The brokerage presently has an “outperform” rating on the stock. Royal Bank of Canada’s price target points to a potential upside of 37.42% from the company’s previous close.

Separately, Morgan Stanley increased their price target on shares of Loar from $75.00 to $89.00 and gave the company an “equal weight” rating in a report on Monday, November 18th.

Loar Price Performance

Loar stock traded down $1.66 during mid-day trading on Monday, reaching $66.95. 115,490 shares of the company’s stock traded hands, compared to its average volume of 351,458. Loar has a 12-month low of $42.57 and a 12-month high of $96.99. The stock has a 50 day moving average of $75.50 and a two-hundred day moving average of $77.75. The company has a debt-to-equity ratio of 0.78, a current ratio of 3.95 and a quick ratio of 2.28.

Insider Activity

In related news, insider Michael J. Manella sold 28,153 shares of Loar stock in a transaction dated Thursday, December 12th. The shares were sold at an average price of $81.17, for a total transaction of $2,285,179.01. Following the completion of the sale, the insider now owns 580,388 shares in the company, valued at $47,110,093.96. This trade represents a 4.63 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Raja Bobbili sold 987,248 shares of the company’s stock in a transaction dated Thursday, December 12th. The stock was sold at an average price of $81.17, for a total transaction of $80,134,920.16. Following the completion of the transaction, the director now owns 36,713,441 shares in the company, valued at $2,980,030,005.97. This represents a 2.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 1,135,706 shares of company stock valued at $92,185,256.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the company. Sterling Capital Management LLC increased its holdings in shares of Loar by 141.5% in the 4th quarter. Sterling Capital Management LLC now owns 500 shares of the company’s stock valued at $37,000 after acquiring an additional 293 shares during the period. Corebridge Financial Inc. grew its stake in Loar by 174.3% in the fourth quarter. Corebridge Financial Inc. now owns 524 shares of the company’s stock valued at $39,000 after purchasing an additional 333 shares during the last quarter. Barclays PLC raised its holdings in Loar by 12.1% in the fourth quarter. Barclays PLC now owns 3,298 shares of the company’s stock worth $243,000 after purchasing an additional 355 shares in the last quarter. Captrust Financial Advisors lifted its position in shares of Loar by 4.4% during the fourth quarter. Captrust Financial Advisors now owns 10,935 shares of the company’s stock valued at $808,000 after buying an additional 464 shares during the last quarter. Finally, State of Wyoming bought a new stake in shares of Loar in the 4th quarter valued at about $53,000.

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.