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

Loar Holdings Inc. (NYSE:LOAR) has been given an average rating of “Buy” by the six brokerages that are covering the company, MarketBeat reports. One analyst has rated the stock with a hold recommendation, four have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year target price among analysts that have issued ratings on the stock in the last year is $89.75.

LOAR has been the subject of a number of research reports. Morgan Stanley reduced their price objective on Loar from $100.00 to $97.00 and set an “overweight” rating for the company in a research report on Thursday, November 13th. Citigroup reduced their price target on shares of Loar from $87.00 to $81.00 and set a “buy” rating for the company in a research report on Thursday, February 5th. The Goldman Sachs Group started coverage on shares of Loar in a report on Tuesday, November 25th. They issued a “buy” rating and a $91.00 price objective on the stock. Weiss Ratings restated a “hold (c)” rating on shares of Loar in a research report on Monday, December 29th. Finally, Wall Street Zen upgraded shares of Loar from a “hold” rating to a “buy” rating in a research report on Saturday, February 14th.

Hedge Funds Weigh In On Loar

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Capital International Investors grew its holdings in Loar by 909.3% during the third quarter. Capital International Investors now owns 4,461,517 shares of the company’s stock valued at $356,921,000 after purchasing an additional 4,019,489 shares during the period. Wasatch Advisors LP lifted its position in shares of Loar by 290.9% during the 2nd quarter. Wasatch Advisors LP now owns 2,624,649 shares of the company’s stock valued at $226,166,000 after buying an additional 1,953,148 shares in the last quarter. Marshall Wace LLP grew its stake in shares of Loar by 2,104.8% during the 2nd quarter. Marshall Wace LLP now owns 1,386,318 shares of the company’s stock valued at $119,459,000 after acquiring an additional 1,323,442 shares during the period. Bamco Inc. NY increased its holdings in Loar by 165.2% in the 3rd quarter. Bamco Inc. NY now owns 1,809,099 shares of the company’s stock worth $144,728,000 after acquiring an additional 1,127,033 shares in the last quarter. Finally, UBS Group AG raised its stake in Loar by 266.0% during the 4th quarter. UBS Group AG now owns 1,276,780 shares of the company’s stock worth $86,821,000 after acquiring an additional 927,908 shares during the period.

Loar Price Performance

NYSE LOAR opened at $67.12 on Friday. The stock has a market capitalization of $6.28 billion, a price-to-earnings ratio of 101.70 and a beta of 0.37. Loar has a 1-year low of $62.10 and a 1-year 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. The business’s fifty day moving average price is $69.18 and its 200-day moving average price is $72.42.

Loar Company Profile

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.