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

Loar (NYSE:LOAR) had its price target trimmed by Royal Bank of Canada from $100.00 to $92.00 in a research report report published on Monday morning,Benzinga reports. The brokerage currently has an outperform rating on the stock.

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

Loar Trading Up 2.3 %

Shares of NYSE LOAR opened at $69.52 on Monday. Loar has a 1-year low of $42.57 and a 1-year high of $96.99. The company has a quick ratio of 2.28, a current ratio of 3.95 and a debt-to-equity ratio of 0.78. The business has a 50-day moving average of $74.98 and a 200-day moving average of $77.79.

Insider Buying and Selling at Loar

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

Institutional Trading of Loar

Several hedge funds and other institutional investors have recently modified their holdings of LOAR. Vanguard Group Inc. boosted its position in shares of Loar by 132.4% in the fourth quarter. Vanguard Group Inc. now owns 2,721,325 shares of the company’s stock worth $201,133,000 after buying an additional 1,550,581 shares during the period. TimesSquare Capital Management LLC raised its holdings in shares of Loar by 159.8% during 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 in the last quarter. Wasatch Advisors LP purchased a new stake in shares of Loar during the fourth quarter worth $40,347,000. Lord Abbett & CO. LLC raised its holdings in shares of Loar by 71.7% during 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 in the last quarter. Finally, Norges Bank purchased a new stake in shares of Loar during the fourth quarter worth $30,326,000.

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.