Loar (NYSE:LOAR) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Loar (NYSE:LOAR) from a hold rating to a buy rating in a research report released on Saturday morning.

A number of other analysts also recently weighed in on LOAR. Morgan Stanley cut their target price on Loar from $100.00 to $97.00 and set an “overweight” rating for the company in a research report on Thursday, November 13th. Citigroup cut their price objective 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. Weiss Ratings reiterated a “hold (c)” rating on shares of Loar in a research note on Monday, December 29th. Finally, The Goldman Sachs Group assumed coverage on shares of Loar in a research report on Tuesday, November 25th. They issued a “buy” rating and a $91.00 target price for the company. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Buy” and an average price target of $90.25.

Loar Stock Performance

NYSE LOAR opened at $64.50 on Friday. The firm has a 50-day moving average price of $69.36 and a two-hundred day moving average price of $72.56. Loar has a 12-month low of $62.10 and a 12-month high of $99.67. The company has a market capitalization of $6.04 billion, a P/E ratio of 97.73 and a beta of 0.37. The company has a quick ratio of 3.81, a current ratio of 5.92 and a debt-to-equity ratio of 0.24.

Institutional Trading of Loar

A number of hedge funds have recently added to or reduced their stakes in the stock. Royal Bank of Canada increased its holdings in shares of Loar by 7.6% during the first quarter. Royal Bank of Canada now owns 15,310 shares of the company’s stock worth $1,082,000 after buying an additional 1,081 shares in the last quarter. Goldman Sachs Group Inc. grew its position in 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 acquiring an additional 49,629 shares during the last quarter. Truist Financial Corp bought a new stake in Loar during the 2nd quarter worth $226,000. Huntleigh Advisors Inc. grew its position in Loar by 5.9% during the 2nd quarter. Huntleigh Advisors Inc. now owns 12,155 shares of the company’s stock worth $1,047,000 after acquiring an additional 678 shares during the last quarter. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new position in Loar in the 2nd quarter worth about $284,000.

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.