Loar (NYSE:LOAR) Price Target Raised to $89.00 at Morgan Stanley

Loar (NYSE:LOAR) had its target price raised by Morgan Stanley from $75.00 to $89.00 in a research note released on Monday,Benzinga reports. Morgan Stanley currently has an equal weight rating on the stock.

Several other research analysts also recently issued reports on LOAR. Royal Bank of Canada reiterated an “outperform” rating and set a $100.00 price target on shares of Loar in a research report on Thursday, November 14th. Citigroup increased their price objective on Loar from $64.00 to $88.00 and gave the company a “buy” rating in a research report on Tuesday, August 20th.

Loar Stock Up 1.4 %

Shares of Loar stock opened at $81.93 on Monday. The firm’s 50-day moving average price is $78.90 and its two-hundred day moving average price is $66.34. 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 1-year low of $42.57 and a 1-year high of $95.35.

Loar (NYSE:LOAR) last released its quarterly earnings results on Wednesday, November 13th. The company reported $0.15 earnings per share for the quarter, beating analysts’ consensus estimates of $0.13 by $0.02. The business had revenue of $103.52 million for the quarter, compared to analyst estimates of $97.30 million. The firm’s revenue for the quarter was up 25.0% on a year-over-year basis. On average, sell-side analysts expect that Loar will post 0.37 EPS for the current year.

Institutional Investors Weigh In On Loar

Institutional investors have recently made changes to their positions in the stock. Arcadia Investment Management Corp MI bought a new position in Loar during the second quarter worth about $26,000. Amalgamated Bank acquired a new stake in shares of Loar in the 2nd quarter valued at approximately $37,000. nVerses Capital LLC bought a new position in Loar during the 3rd quarter worth approximately $45,000. Linonia Partnership LP acquired a new position in Loar during the second quarter valued at approximately $53,000. Finally, RiverPark Advisors LLC bought a new stake in Loar in the second quarter valued at approximately $155,000.

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.