Loar (NYSE:LOAR) Upgraded by Wall Street Zen to “Buy” Rating

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

LOAR has been the subject of several other research reports. Weiss Ratings reissued a “hold (c)” rating on shares of Loar in a research report on Monday, December 29th. Citigroup decreased their price objective on Loar from $87.00 to $81.00 and set a “buy” rating on the stock in a research note on Thursday, February 5th. Morgan Stanley cut their target price on shares of Loar from $100.00 to $97.00 and set an “overweight” rating for the company in a research note on Thursday, November 13th. Finally, The Goldman Sachs Group began coverage on shares of Loar in a research note on Tuesday, November 25th. They set a “buy” rating and a $91.00 price target on the stock. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Buy” and an average price target of $90.25.

Loar Stock Up 0.3%

Shares of NYSE LOAR opened at $64.50 on Friday. The firm’s 50-day moving average is $69.40 and its two-hundred day moving average is $72.62. The company has a market capitalization of $6.04 billion, a PE ratio of 97.73 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 debt-to-equity ratio of 0.24, a current ratio of 5.92 and a quick ratio of 3.81.

Loar (NYSE:LOAR) last issued its quarterly earnings data on Wednesday, November 12th. The company reported $0.35 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $126.75 million during the quarter, compared to the consensus estimate of $126.80 million. During the same period in the previous year, the firm posted $0.15 EPS. The company’s quarterly revenue was up 22.5% compared to the same quarter last year. Equities analysts anticipate that Loar will post 0.28 EPS for the current fiscal year.

Institutional Trading of Loar

A number of hedge funds have recently added to or reduced their stakes in the business. Capital International Investors increased its stake in shares of Loar by 61.8% during the 4th quarter. Capital International Investors now owns 7,218,814 shares of the company’s stock valued at $490,879,000 after acquiring an additional 2,757,297 shares during the last quarter. Wasatch Advisors LP grew its holdings in Loar by 17.3% in the fourth quarter. Wasatch Advisors LP now owns 3,064,965 shares of the company’s stock valued at $208,418,000 after purchasing an additional 452,646 shares during the period. State Street Corp grew its holdings in Loar by 18.1% in the fourth quarter. State Street Corp now owns 1,880,955 shares of the company’s stock valued at $127,905,000 after purchasing an additional 288,095 shares during the period. Bamco Inc. NY increased its position in Loar by 165.2% during the third quarter. Bamco Inc. NY now owns 1,809,099 shares of the company’s stock worth $144,728,000 after purchasing an additional 1,127,033 shares during the last quarter. Finally, Federated Hermes Inc. raised its stake in Loar by 45.1% during the second 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 during the period.

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.