Royal Bank of Canada Issues Pessimistic Forecast for Loar (NYSE:LOAR) Stock Price

Loar (NYSE:LOAR) had its target price reduced by equities researchers at Royal Bank of Canada from $100.00 to $92.00 in a research note issued on Monday,Benzinga reports. The firm currently has an “outperform” rating on the stock. Royal Bank of Canada’s price objective points to a potential upside of 35.31% from the stock’s current price.

Separately, Morgan Stanley increased their price objective on shares of Loar from $75.00 to $89.00 and gave the stock an “equal weight” rating in a research report on Monday, November 18th.

Loar Stock Performance

NYSE LOAR opened at $67.99 on Monday. Loar has a 12 month low of $42.57 and a 12 month high of $96.99. The firm’s 50-day moving average is $75.09 and its two-hundred day moving average is $77.85. The company has a quick ratio of 2.28, a current ratio of 3.95 and a debt-to-equity ratio of 0.78.

Insider Activity at Loar

In other Loar news, insider Michael J. Manella sold 28,153 shares of the stock in a transaction that occurred on Thursday, December 12th. The shares were sold at an average price of $81.17, for a total transaction of $2,285,179.01. Following the sale, the insider now directly owns 580,388 shares in the company, valued at $47,110,093.96. This represents a 4.63 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Chairman Brett N. Milgrim sold 120,305 shares of the firm’s stock in a transaction that occurred on Thursday, December 12th. The shares were sold at an average price of $81.17, for a total transaction of $9,765,156.85. Following the completion of the transaction, the chairman now directly owns 3,865,327 shares of the company’s stock, valued at $313,748,592.59. This represents a 3.02 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 1,135,706 shares of company stock worth $92,185,256 in the last three months.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. raised its position in Loar by 132.4% in the 4th quarter. Vanguard Group Inc. now owns 2,721,325 shares of the company’s stock valued at $201,133,000 after purchasing an additional 1,550,581 shares in the last quarter. Price T Rowe Associates Inc. MD raised its holdings in Loar by 4.6% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 1,142,073 shares of the company’s stock valued at $84,411,000 after acquiring an additional 50,287 shares in the last quarter. TimesSquare Capital Management LLC lifted its stake in Loar by 159.8% in the fourth quarter. TimesSquare Capital Management LLC now owns 1,066,525 shares of the company’s stock worth $78,827,000 after acquiring an additional 656,016 shares during the last quarter. Lord Abbett & CO. LLC lifted its stake in Loar by 71.7% in the third quarter. Lord Abbett & CO. LLC now owns 1,009,558 shares of the company’s stock worth $75,303,000 after acquiring an additional 421,637 shares during the last quarter. Finally, Federated Hermes Inc. grew its holdings in Loar by 29.7% during the 4th quarter. Federated Hermes Inc. now owns 998,733 shares of the company’s stock worth $73,816,000 after acquiring an additional 228,477 shares in the last quarter.

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.