Morgan Stanley Upgrades Loar (NYSE:LOAR) to Overweight

Morgan Stanley upgraded shares of Loar (NYSE:LOAR - Free Report) from an equal weight rating to an overweight rating in a report published on Thursday, Marketbeat.com reports. They currently have $91.00 price target on the stock.

Separately, Royal Bank of Canada reissued an "outperform" rating and issued a $92.00 price objective on shares of Loar in a research note on Tuesday, April 1st.

Loar Price Performance

NYSE:LOAR traded up $5.77 during midday trading on Thursday, hitting $77.62. 475,783 shares of the stock were exchanged, compared to its average volume of 443,920. The business has a 50-day moving average price of $70.58 and a two-hundred day moving average price of $76.89. The company has a current ratio of 3.95, a quick ratio of 2.28 and a debt-to-equity ratio of 0.78. The company has a market capitalization of $7.26 billion and a price-to-earnings ratio of 323.54. Loar has a one year low of $42.57 and a one year high of $96.99.

Loar (NYSE:LOAR - Get Free Report) last posted its quarterly earnings data on Monday, March 31st. The company reported $0.11 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.11. The company had revenue of $110.40 million for the quarter, compared to analyst estimates of $102.51 million. The business's revenue was up 27.8% on a year-over-year basis. Sell-side analysts predict that Loar will post 0.28 EPS for the current year.

Institutional Investors Weigh In On Loar

Several large investors have recently made changes to their positions in the company. Vanguard Group Inc. increased its stake in shares of Loar by 132.4% during the 4th quarter. Vanguard Group Inc. now owns 2,721,325 shares of the company's stock worth $201,133,000 after purchasing an additional 1,550,581 shares during the last quarter. TimesSquare Capital Management LLC raised its holdings in Loar by 159.8% during the fourth quarter. TimesSquare Capital Management LLC now owns 1,066,525 shares of the company's stock valued at $78,827,000 after buying an additional 656,016 shares in the last quarter. Wasatch Advisors LP bought a new stake in shares of Loar during the 4th quarter worth about $40,347,000. Lord Abbett & CO. LLC raised its stake in shares of Loar by 71.7% in the 3rd quarter. Lord Abbett & CO. LLC now owns 1,009,558 shares of the company's stock valued at $75,303,000 after acquiring an additional 421,637 shares in the last quarter. Finally, Norges Bank bought a new stake in Loar during the fourth quarter worth approximately $30,326,000.

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.