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

Loar (NYSE:LOAR - Get Free Report)'s stock had its "outperform" rating reaffirmed by analysts at Royal Bank of Canada in a report released on Tuesday,Benzinga reports. They currently have a $92.00 target price on the stock. Royal Bank of Canada's target price suggests a potential upside of 29.45% from the company's previous close.

Loar Price Performance

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LOAR stock traded up $0.42 during mid-day trading on Tuesday, hitting $71.07. 294,881 shares of the company were exchanged, compared to its average volume of 407,436. Loar has a 12-month low of $42.57 and a 12-month high of $96.99. The company has a current ratio of 3.95, a quick ratio of 2.28 and a debt-to-equity ratio of 0.78. The business has a fifty day simple moving average of $71.31 and a 200-day simple moving average of $77.01.

Institutional Investors Weigh In On Loar

A number of institutional investors and hedge funds have recently bought and sold shares of LOAR. Charles Schwab Investment Management Inc. raised its stake in shares of Loar by 52.3% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 106,897 shares of the company's stock worth $7,973,000 after buying an additional 36,701 shares in the last quarter. The Manufacturers Life Insurance Company acquired a new stake in Loar during the third quarter worth approximately $1,247,000. BNP Paribas Financial Markets grew its holdings in Loar by 3,444.3% in the 3rd quarter. BNP Paribas Financial Markets now owns 10,633 shares of the company's stock valued at $793,000 after buying an additional 10,333 shares during the period. Captrust Financial Advisors grew its holdings in Loar by 9.8% in the third quarter. Captrust Financial Advisors now owns 10,471 shares of the company's stock valued at $781,000 after purchasing an additional 938 shares during the period. Finally, Verition Fund Management LLC acquired a new stake in shares of Loar during the 3rd quarter worth $727,000.

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.

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