Loar (NYSE:LOAR) Upgraded at Morgan Stanley

Morgan Stanley upgraded shares of Loar (NYSE:LOAR - Free Report) from an equal weight rating to an overweight rating in a research note published on Thursday morning, Marketbeat reports. The firm currently has $91.00 target price on the stock.

Separately, Royal Bank of Canada reissued an "outperform" rating and set a $92.00 price target on shares of Loar in a research note on Tuesday.

Loar Price Performance

Shares of Loar stock traded down $6.56 on Thursday, reaching $69.19. 829,211 shares of the stock were exchanged, compared to its average volume of 412,536. The company has a debt-to-equity ratio of 0.78, a quick ratio of 2.28 and a current ratio of 3.95. The firm has a market cap of $6.47 billion and a PE ratio of 288.30. The firm's 50 day moving average is $70.68 and its 200-day moving average is $76.90. Loar has a one year low of $42.57 and a one year high of $96.99.

Loar (NYSE:LOAR - Get Free Report) last issued its earnings results on Monday, March 31st. The company reported $0.11 earnings per share for the quarter, meeting analysts' consensus estimates of $0.11. The business had revenue of $110.40 million during the quarter, compared to analyst estimates of $102.51 million. The firm's revenue was up 27.8% on a year-over-year basis. As a group, analysts anticipate that Loar will post 0.28 EPS for the current fiscal year.

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Institutional Trading of Loar

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