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

Loar (NYSE:LOAR - Free Report) had its price objective raised by Morgan Stanley from $75.00 to $89.00 in a report released on Monday morning,Benzinga reports. Morgan Stanley currently has an equal weight rating on the stock.

Several other research firms also recently commented on LOAR. Citigroup upped their price target on shares of Loar from $64.00 to $88.00 and gave the company a "buy" rating in a research report on Tuesday, August 20th. Royal Bank of Canada reaffirmed an "outperform" rating and issued a $100.00 target price on shares of Loar in a report on Thursday.

Loar Stock Up 1.4 %

LOAR stock traded up $1.13 during trading on Monday, hitting $81.93. 200,653 shares of the company's stock were exchanged, compared to its average volume of 299,054. The business has a 50-day moving average price of $78.90 and a two-hundred day moving average price of $66.34. The company has a debt-to-equity ratio of 0.78, a current ratio of 3.95 and a quick ratio of 3.09. Loar has a 52-week low of $42.57 and a 52-week high of $95.35.

Loar (NYSE:LOAR - Get Free Report) last issued its quarterly earnings data on Wednesday, November 13th. The company reported $0.15 earnings per share for the quarter, topping the consensus estimate of $0.13 by $0.02. The company had revenue of $103.52 million for the quarter, compared to analysts' expectations of $97.30 million. The business's revenue was up 25.0% on a year-over-year basis. As a group, equities research analysts expect that Loar will post 0.37 EPS for the current fiscal year.

Hedge Funds Weigh In On Loar

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

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.