Loar (NYSE:LOAR – Get Free Report)‘s stock had its “outperform” rating reissued by Royal Bank of Canada in a research report issued on Thursday,Benzinga reports. They presently have a $100.00 target price on the stock. Royal Bank of Canada’s target price indicates a potential upside of 25.08% from the company’s previous close.
A number of other analysts have also recently weighed in on LOAR. Citigroup boosted their price target on Loar from $64.00 to $88.00 and gave the stock a “buy” rating in a research report on Tuesday, August 20th. Morgan Stanley boosted their target price on Loar from $70.00 to $75.00 and gave the stock an “equal weight” rating in a report on Friday, October 18th.
View Our Latest Stock Analysis on Loar
Loar Trading Down 1.2 %
Loar (NYSE:LOAR – Get Free Report) last released its quarterly earnings results on Tuesday, August 13th. The company reported $0.13 earnings per share for the quarter, beating analysts’ consensus estimates of $0.10 by $0.03. The business had revenue of $97.10 million for the quarter, compared to the consensus estimate of $91.70 million. The business’s quarterly revenue was up 31.2% on a year-over-year basis. Research analysts anticipate that Loar will post 0.37 EPS for the current year.
Hedge Funds Weigh In On Loar
Institutional investors have recently made changes to their positions in the business. Abrams Capital Management L.P. bought a new position in Loar in the 2nd quarter worth approximately $2,052,780,000. Federated Hermes Inc. acquired a new position in Loar during the 2nd quarter valued at $38,952,000. TimesSquare Capital Management LLC boosted its holdings in Loar by 57.3% in the 3rd quarter. TimesSquare Capital Management LLC now owns 410,509 shares of the company’s stock valued at $30,620,000 after purchasing an additional 149,460 shares during the period. Loomis Sayles & Co. L P grew its position in Loar by 47.3% in the 3rd quarter. Loomis Sayles & Co. L P now owns 275,500 shares of the company’s stock worth $20,550,000 after purchasing an additional 88,429 shares during the last quarter. Finally, Fred Alger Management LLC bought a new position in shares of Loar during the 2nd quarter worth about $13,085,000.
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.
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