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

Analysts at the Royal Bank of Canada have reaffirmed their "outperform" rating for Loar (NYSE:LOAR), according to a research report released on Tuesday. The bank has set a target price of $92.00 on the shares, indicating a potential upside of approximately 29.45% from the company's last closing price.

Loar Price Performance

On Tuesday, LOAR stock experienced an increase of $0.42 during mid-day trading, bringing its price to $71.07. A total of 294,881 shares were traded, which is lower than its average volume of 407,436 shares. Over the past year, Loar's stock has hit a low of $42.57 and a high of $96.99. The company's current financial ratios are strong, with a current ratio of 3.95, a quick ratio of 2.28, and a debt-to-equity ratio of 0.78. The stock has a 50-day simple moving average of $71.31 and a 200-day simple moving average of $77.01.

Institutional Investors Weigh In On Loar

Several institutional investors and hedge funds have recently adjusted their positions in Loar. For example, Charles Schwab Investment Management Inc. increased its stake by 52.3% during the third quarter, now owning 106,897 shares valued at $7,973,000 after acquiring an additional 36,701 shares. Additionally, The Manufacturers Life Insurance Company purchased a new stake worth approximately $1.25 million. Other notable changes include BNP Paribas Financial Markets, which grew its holdings by an impressive 3,444.3%, now holding 10,633 shares valued at $793,000. Similarly, Captrust Financial Advisors raised their position by 9.8%, leading to ownership of 10,471 shares worth $781,000 after adding 938 shares to their holdings. Verition Fund Management LLC also made a new investment in Loar during the third quarter valued at $727,000.

About Loar

Loar Holdings Inc., through its subsidiaries, is engaged in the design, manufacturing, and marketing of aerospace and defense components for aircraft, as well as aerospace and defense systems both domestically and internationally. The company's product offerings cover a wide range of categories, including airframe components, structural components, avionics, composites, braking systems, de-icing and ice protection systems, electro-mechanical devices, engineered materials, flight controls, fluid and motion controls, environmental solutions, metal forming, molded components, and restraints and safety devices.

Conclusion

Loar is in a position of strength with favorable ratings and active interest from institutional investors, signaling confidence in the company’s future performance. Investors should monitor these developments closely to make informed decisions.

Loar, Stocks, Investment