Shares of Loar Holdings, LLC (NYSE:LOAR - Get Free Report) hit a new 52-week high on Monday after Morgan Stanley raised their price target on the stock from $70.00 to $75.00. Morgan Stanley currently has an equal weight rating on the stock. Loar traded as high as $81.15 and last traded at $79.08, with a volume of 38113 shares changing hands. The stock had previously closed at $78.49.
Other analysts have also issued reports about the stock. Citigroup boosted their price objective on shares of Loar from $64.00 to $88.00 and gave the company a "buy" rating in a report on Tuesday, August 20th. Royal Bank of Canada restated an "outperform" rating and issued a $80.00 price objective on shares of Loar in a report on Monday, October 7th.
Read Our Latest Report on Loar
Institutional Trading of Loar
A number of institutional investors and hedge funds have recently bought and sold shares of the business. Renaissance Capital LLC purchased a new stake in shares of Loar during the second quarter worth approximately $497,000. TCW Group Inc. purchased a new stake in shares of Loar during the second quarter worth approximately $7,366,000. Zweig DiMenna Associates LLC purchased a new stake in shares of Loar during the second quarter worth approximately $9,208,000. Calamos Advisors LLC purchased a new stake in shares of Loar during the second quarter worth approximately $492,000. Finally, Bank of New York Mellon Corp acquired a new position in Loar in the second quarter valued at approximately $439,000.
Loar Stock Up 1.6 %
The business's fifty day moving average is $74.04. The company has a quick ratio of 3.09, a current ratio of 4.86 and a debt-to-equity ratio of 0.33.
Loar (NYSE:LOAR - Get Free Report) last announced its quarterly earnings results on Tuesday, August 13th. The company reported $0.13 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.10 by $0.03. The business had revenue of $97.10 million during the quarter, compared to analyst estimates of $91.70 million. The firm's revenue for the quarter was up 31.2% compared to the same quarter last year. Equities analysts anticipate that Loar Holdings, LLC will post 0.37 EPS for the current fiscal year.
Loar Company Profile
(
Get Free Report)
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.
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