Loar (NYSE:LOAR) Rating Increased to Buy at Wall Street Zen

Wall Street Zen upgraded shares of Loar (NYSE:LOAR) from a hold rating to a buy rating in a research note issued to investors on Saturday.

Other analysts have also recently issued reports about the company. The Goldman Sachs Group initiated coverage on Loar in a research report on Tuesday, November 25th. They set a “buy” rating and a $91.00 price target on the stock. Morgan Stanley dropped their target price on Loar from $100.00 to $97.00 and set an “overweight” rating on the stock in a research report on Thursday, November 13th. Weiss Ratings reiterated a “hold (c)” rating on shares of Loar in a research note on Monday, December 29th. Finally, Citigroup lowered their price target on shares of Loar from $87.00 to $81.00 and set a “buy” rating for the company in a research report on Thursday, February 5th. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price of $90.25.

Loar Stock Up 0.3%

Shares of NYSE:LOAR opened at $64.50 on Friday. The company’s fifty day moving average is $69.40 and its two-hundred day moving average is $72.63. The company has a debt-to-equity ratio of 0.24, a quick ratio of 3.81 and a current ratio of 5.92. Loar has a 1-year low of $62.10 and a 1-year high of $99.67. The stock has a market capitalization of $6.04 billion, a price-to-earnings ratio of 97.73 and a beta of 0.37.

Loar (NYSE:LOAR) last announced its quarterly earnings data on Wednesday, November 12th. The company reported $0.35 earnings per share for the quarter, beating analysts’ consensus estimates of $0.22 by $0.13. Loar had a net margin of 13.33% and a return on equity of 6.45%. The business had revenue of $126.75 million during the quarter, compared to the consensus estimate of $126.80 million. During the same quarter in the prior year, the firm earned $0.15 EPS. The company’s revenue for the quarter was up 22.5% compared to the same quarter last year. Equities analysts anticipate that Loar will post 0.28 EPS for the current year.

Institutional Investors Weigh In On Loar

A number of hedge funds and other institutional investors have recently modified their holdings of LOAR. Royal Bank of Canada lifted its holdings in Loar by 7.6% in the first quarter. Royal Bank of Canada now owns 15,310 shares of the company’s stock worth $1,082,000 after purchasing an additional 1,081 shares during the period. Goldman Sachs Group Inc. raised its position in shares of Loar by 10.1% during the 1st quarter. Goldman Sachs Group Inc. now owns 538,592 shares of the company’s stock worth $38,052,000 after buying an additional 49,629 shares in the last quarter. Truist Financial Corp acquired a new stake in shares of Loar in the 2nd quarter worth approximately $226,000. Huntleigh Advisors Inc. boosted its holdings in shares of Loar by 5.9% in the second quarter. Huntleigh Advisors Inc. now owns 12,155 shares of the company’s stock valued at $1,047,000 after acquiring an additional 678 shares in the last quarter. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new position in shares of Loar during the second quarter valued at approximately $284,000.

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.