Loar Holdings Inc. (NYSE:LOAR) Receives Average Rating of “Buy” from Brokerages

Shares of Loar Holdings Inc. (NYSE:LOAR) have received a consensus recommendation of “Buy” from the six research firms that are currently covering the firm, MarketBeat.com reports. One analyst has rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating on the company. The average twelve-month price target among analysts that have issued ratings on the stock in the last year is $89.75.

LOAR has been the topic of several research analyst reports. Royal Bank Of Canada lowered their price objective on Loar from $92.00 to $90.00 and set an “outperform” rating on the stock in a research report on Wednesday. Wall Street Zen raised Loar from a “hold” rating to a “buy” rating in a report on Saturday, February 14th. Morgan Stanley dropped their price target on Loar from $100.00 to $97.00 and set an “overweight” rating for the company in a research note on Thursday, November 13th. The Goldman Sachs Group initiated coverage on shares of Loar in a research report on Tuesday, November 25th. They set a “buy” rating and a $91.00 price objective on the stock. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Loar in a report on Monday, December 29th.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Royal Bank of Canada lifted its position in shares of Loar by 7.6% in 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. increased its stake in Loar by 10.1% in 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. VIRGINIA RETIREMENT SYSTEMS ET Al bought a new stake in Loar in the 2nd quarter worth approximately $284,000. State of New Jersey Common Pension Fund D purchased a new stake in shares of Loar during the 2nd quarter worth approximately $1,925,000. Finally, Oppenheimer Asset Management Inc. boosted its position in shares of Loar by 796.2% during the 2nd quarter. Oppenheimer Asset Management Inc. now owns 34,326 shares of the company’s stock valued at $2,958,000 after acquiring an additional 30,496 shares during the last quarter.

Loar Stock Up 2.6%

LOAR opened at $67.12 on Friday. The stock has a market cap of $6.28 billion, a price-to-earnings ratio of 101.70 and a beta of 0.37. The company has a debt-to-equity ratio of 0.24, a quick ratio of 3.81 and a current ratio of 5.92. The firm’s fifty day moving average is $69.18 and its 200 day moving average is $72.42. Loar has a fifty-two week low of $62.10 and a fifty-two week high of $99.67.

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.