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

Loar (NYSE: LOAR - Get Free Report) has been given an "outperform" rating by the Royal Bank of Canada in a research report released on Tuesday. The bank has set a price target of $92.00 for Loar's shares, indicating a promising potential upside of 29.45% from the stock's last closing price.

Loar Price Performance

On the trading day following the announcement, Loar's stock price increased by $0.42, bringing the share price to $71.07. During this trading session, 294,881 shares were exchanged, lower than the average trading volume of 407,436 shares. Over the past year, Loar has experienced significant price fluctuations, with a 12-month low of $42.57 and a high of $96.99. The company's financial health is reflected in its current ratio of 3.95, a quick ratio of 2.28, and a debt-to-equity ratio of 0.78. Additionally, Loar's stock 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

Several institutional investors and hedge funds have recently adjusted their positions in Loar. For instance, Charles Schwab Investment Management Inc. increased its stake in Loar by 52.3% during the third quarter and now holds 106,897 shares, valued at approximately $7,973,000. The Manufacturers Life Insurance Company also acquired a new stake in Loar worth around $1,247,000 during this same period. Moreover, BNP Paribas Financial Markets significantly expanded its holdings in Loar by 3,444.3%, now owning 10,633 shares valued at $793,000 after acquiring an additional 10,333 shares. Captrust Financial Advisors increased their stake by 9.8% and now holds 10,471 shares valued at $781,000, following a purchase of an additional 938 shares. Finally, Verition Fund Management LLC has entered the arena by acquiring shares worth $727,000 during the third quarter.

About Loar

Loar Holdings Inc. is a company that designs, manufactures, and markets aerospace and defense components, serving both domestic and international markets. Their product offerings span various categories, including airframe and structural components, avionics, composite materials, braking systems, ice protection systems, and safety devices among others.

Conclusion

Loar continues to attract attention from both analysts and institutional investors, indicating a positive outlook for the company's future performance in the aerospace and defense industry.

Loar, Rating, Investment