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

Loar (NYSE:LOAR) had its target price cut by stock analysts at Royal Bank of Canada from $100.00 to $92.00 in a report issued on Monday,Benzinga reports. The brokerage currently has an “outperform” rating on the stock. Royal Bank of Canada’s target price would suggest a potential upside of 37.42% from the stock’s current price.

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

Loar Stock Down 2.4 %

LOAR stock traded down $1.66 on Monday, hitting $66.95. 115,490 shares of the company’s stock were exchanged, compared to its average volume of 351,458. The firm has a 50 day moving average price of $75.50 and a two-hundred day moving average price of $77.75. The company has a quick ratio of 2.28, a current ratio of 3.95 and a debt-to-equity ratio of 0.78. Loar has a 12-month low of $42.57 and a 12-month high of $96.99.

Insiders Place Their Bets

In other Loar news, insider Michael J. Manella sold 28,153 shares of Loar stock in a transaction dated Thursday, December 12th. The stock was sold at an average price of $81.17, for a total transaction of $2,285,179.01. Following the completion of the transaction, the insider now owns 580,388 shares in the company, valued at approximately $47,110,093.96. This trade represents a 4.63 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Chairman Brett N. Milgrim sold 120,305 shares of the company’s stock in a transaction dated Thursday, December 12th. The stock was sold at an average price of $81.17, for a total value of $9,765,156.85. Following the completion of the sale, the chairman now owns 3,865,327 shares in the company, valued at $313,748,592.59. The trade was a 3.02 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 1,135,706 shares of company stock valued at $92,185,256.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the stock. Sterling Capital Management LLC grew its stake in shares of Loar by 141.5% during the 4th quarter. Sterling Capital Management LLC now owns 500 shares of the company’s stock worth $37,000 after purchasing an additional 293 shares during the period. Corebridge Financial Inc. grew its position in Loar by 174.3% during the fourth quarter. Corebridge Financial Inc. now owns 524 shares of the company’s stock valued at $39,000 after buying an additional 333 shares during the period. State of Wyoming purchased a new position in Loar in the fourth quarter valued at $53,000. Arcadia Investment Management Corp MI acquired a new position in shares of Loar in the fourth quarter worth about $61,000. Finally, Gen Wealth Partners Inc purchased a new stake in shares of Loar during the 4th quarter worth about $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.