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

Loar (NYSE:LOAR) had its target price upped by research analysts at Morgan Stanley from $70.00 to $75.00 in a note issued to investors on Friday, Benzinga reports. The brokerage presently has an “equal weight” rating on the stock. Morgan Stanley’s price target indicates a potential downside of 4.45% from the company’s previous close.

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

Loar Price Performance

NYSE LOAR opened at $78.49 on Friday. The company has a debt-to-equity ratio of 0.33, a current ratio of 4.86 and a quick ratio of 3.09. Loar has a 52-week low of $42.57 and a 52-week high of $80.79. The business’s 50-day moving average price is $73.69.

Loar (NYSE:LOAR) last released its quarterly earnings data on Tuesday, August 13th. The company reported $0.13 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.10 by $0.03. The business had revenue of $97.10 million during the quarter, compared to analysts’ expectations of $91.70 million. The company’s revenue for the quarter was up 31.2% compared to the same quarter last year. On average, analysts predict that Loar will post 0.37 EPS for the current year.

Institutional Investors Weigh In On Loar

Large investors have recently bought and sold shares of the stock. TCW Group Inc. purchased a new stake in shares of Loar in the second quarter valued at $7,366,000. Select Equity Group L.P. purchased a new position in Loar in the 2nd quarter valued at about $911,000. Emerald Advisers LLC acquired a new stake in shares of Loar during the 2nd quarter worth about $1,146,000. Abrams Capital Management L.P. purchased a new stake in shares of Loar during the second quarter worth about $2,052,780,000. Finally, Picton Mahoney Asset Management acquired a new position in shares of Loar in the second quarter valued at approximately $964,000.

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.