Loar Holdings Inc. (NYSE:LOAR) Receives $89.75 Average PT from Brokerages

Shares of Loar Holdings Inc. (NYSE:LOAR) have received a consensus rating of “Buy” from the six analysts that are covering the stock, Marketbeat Ratings reports. One research analyst has rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. The average twelve-month price objective among brokerages that have updated their coverage on the stock in the last year is $89.75.

A number of equities analysts have recently commented on the company. Citigroup dropped their target price on Loar from $87.00 to $81.00 and set a “buy” rating for the company in a report on Thursday, February 5th. Morgan Stanley cut their price objective on shares of Loar from $100.00 to $97.00 and set an “overweight” rating on the stock in a research report on Thursday, November 13th. Royal Bank Of Canada reduced their target price on shares of Loar from $92.00 to $90.00 and set an “outperform” rating on the stock in a research note on Wednesday. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Loar in a research note on Monday, December 29th. Finally, Wall Street Zen upgraded shares of Loar from a “hold” rating to a “buy” rating in a report on Saturday, February 14th.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of LOAR. New York State Common Retirement Fund boosted its stake in Loar by 69.1% in the third quarter. New York State Common Retirement Fund now owns 179,046 shares of the company’s stock valued at $14,324,000 after acquiring an additional 73,189 shares in the last quarter. Fox Run Management L.L.C. purchased a new stake in shares of Loar during the 2nd quarter valued at $769,000. Federated Hermes Inc. boosted its position in shares of Loar by 45.1% in the 2nd quarter. Federated Hermes Inc. now owns 1,649,069 shares of the company’s stock worth $142,100,000 after purchasing an additional 512,416 shares in the last quarter. Cerity Partners LLC acquired a new stake in shares of Loar in the 2nd quarter worth $20,884,000. Finally, Voya Investment Management LLC grew its stake in Loar by 1,627.2% during the 3rd quarter. Voya Investment Management LLC now owns 297,196 shares of the company’s stock worth $23,776,000 after buying an additional 279,989 shares during the last quarter.

Loar Stock Down 0.1%

Shares of NYSE:LOAR opened at $67.20 on Friday. The company has a market cap of $6.29 billion, a price-to-earnings ratio of 101.82 and a beta of 0.37. Loar has a 12 month low of $62.10 and a 12 month high of $99.67. The company has a current ratio of 5.92, a quick ratio of 3.81 and a debt-to-equity ratio of 0.24. The company has a 50-day moving average price of $69.12 and a 200 day moving average price of $72.41.

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.