Loar (NYSE:LOAR) Price Target Raised to $75.00 at Morgan Stanley

Loar (NYSE:LOAR - Get Free Report) had its price target raised by research analysts at Morgan Stanley from $70.00 to $75.00 in a report issued on Friday, Benzinga reports. The brokerage presently has an "equal weight" rating on the stock. Morgan Stanley's price objective points to a potential downside of 4.45% from the company's current price.

Other analysts have also recently issued reports about the company. Royal Bank of Canada restated an "outperform" rating and set a $80.00 price target on shares of Loar in a report on Monday, October 7th. Citigroup boosted their target price on shares of Loar from $64.00 to $88.00 and gave the stock a "buy" rating in a report on Tuesday, August 20th.

Loar Price Performance

NYSE:LOAR traded up $0.74 on Friday, hitting $78.49. The company had a trading volume of 155,248 shares, compared to its average volume of 286,076. Loar has a 52 week low of $42.57 and a 52 week high of $80.79. The company has a debt-to-equity ratio of 0.33, a current ratio of 4.86 and a quick ratio of 3.09. The company's 50 day moving average price is $73.69.

Loar (NYSE:LOAR - Get Free Report) last announced its quarterly earnings results on Tuesday, August 13th. The company reported $0.13 EPS for the quarter, beating analysts' consensus estimates of $0.10 by $0.03. The firm had revenue of $97.10 million during the quarter, compared to the consensus estimate of $91.70 million. The company's revenue for the quarter was up 31.2% on a year-over-year basis. Research analysts predict that Loar will post 0.37 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Loar

A number of hedge funds have recently made changes to their positions in the stock. Abrams Capital Management L.P. bought a new stake in Loar in the second quarter valued at approximately $2,052,780,000. Federated Hermes Inc. bought a new stake in shares of Loar in the 2nd quarter valued at $38,952,000. Fred Alger Management LLC acquired a new stake in shares of Loar during the second quarter worth $13,085,000. Zweig DiMenna Associates LLC bought a new position in Loar during the second quarter worth $9,208,000. Finally, TCW Group Inc. bought a new position in Loar during the second quarter worth $7,366,000.

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.