Loar (NYSE:LOAR) Stock Rating Upgraded by Wall Street Zen

Loar (NYSE:LOAR) was upgraded by stock analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a research note issued on Saturday.

A number of other brokerages also recently commented on LOAR. Weiss Ratings restated a “hold (c)” rating on shares of Loar in a research report on Monday, December 29th. Citigroup dropped their price target on shares of Loar from $87.00 to $81.00 and set a “buy” rating on the stock in a research note on Thursday, February 5th. The Goldman Sachs Group initiated coverage on shares of Loar in a research report on Tuesday, November 25th. They issued a “buy” rating and a $91.00 price objective for the company. Finally, Morgan Stanley lowered their price objective on Loar from $100.00 to $97.00 and set an “overweight” rating on the stock in a report on Thursday, November 13th. One 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 stock. According to data from MarketBeat.com, Loar currently has an average rating of “Buy” and a consensus price target of $90.25.

Loar Stock Up 0.3%

LOAR opened at $64.50 on Friday. Loar has a 52 week low of $62.10 and a 52 week high of $99.67. The business has a 50 day moving average price of $69.40 and a two-hundred day moving average price of $72.62. The company has a quick ratio of 3.81, a current ratio of 5.92 and a debt-to-equity ratio of 0.24. The company has a market cap of $6.04 billion, a PE ratio of 97.73 and a beta of 0.37.

Loar (NYSE:LOAR) last announced its earnings results on Wednesday, November 12th. The company reported $0.35 earnings per share for the quarter, beating the consensus estimate of $0.22 by $0.13. Loar had a return on equity of 6.45% and a net margin of 13.33%.The company had revenue of $126.75 million for the quarter, compared to the consensus estimate of $126.80 million. During the same period last year, the business posted $0.15 EPS. The company’s revenue was up 22.5% on a year-over-year basis. As a group, research analysts anticipate that Loar will post 0.28 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Rakuten Securities Inc. acquired a new stake in shares of Loar during the 2nd quarter valued at approximately $27,000. Fifth Third Bancorp purchased a new position in Loar in the 4th quarter valued at approximately $28,000. PNC Financial Services Group Inc. raised its holdings in Loar by 390.1% during the second quarter. PNC Financial Services Group Inc. now owns 348 shares of the company’s stock worth $30,000 after purchasing an additional 277 shares during the last quarter. Farther Finance Advisors LLC boosted its position in Loar by 8,383.3% during the third quarter. Farther Finance Advisors LLC now owns 509 shares of the company’s stock worth $41,000 after purchasing an additional 503 shares in the last quarter. Finally, Danske Bank A S purchased a new stake in Loar during the fourth quarter worth $62,000.

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.