Morgan Stanley Increases Loar (NYSE:LOAR) Price Target to $89.00

Loar (NYSE:LOAR) had its price objective raised by analysts at Morgan Stanley from $75.00 to $89.00 in a research report issued on Monday,Benzinga reports. The firm currently has an “equal weight” rating on the stock. Morgan Stanley’s target price would indicate a potential upside of 1.41% from the company’s current price.

A number of other equities research analysts also recently weighed in on the stock. Citigroup boosted their price target on shares of Loar from $64.00 to $88.00 and gave the stock a “buy” rating in a research note on Tuesday, August 20th. Royal Bank of Canada reissued an “outperform” rating and issued a $100.00 price target on shares of Loar in a research note on Thursday, November 14th.

Loar Stock Up 7.1 %

Shares of LOAR opened at $87.76 on Monday. Loar has a 52 week low of $42.57 and a 52 week high of $95.35. 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 business’s fifty day moving average price is $79.07 and its two-hundred day moving average price is $66.59.

Loar (NYSE:LOAR) last posted its quarterly earnings results on Wednesday, November 13th. The company reported $0.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.13 by $0.02. The firm had revenue of $103.52 million during the quarter, compared to the consensus estimate of $97.30 million. The company’s revenue for the quarter was up 25.0% compared to the same quarter last year. As a group, equities analysts forecast that Loar will post 0.37 EPS for the current year.

Hedge Funds Weigh In On Loar

Several institutional investors and hedge funds have recently made changes to their positions in the company. Arcadia Investment Management Corp MI bought a new stake in Loar during the 2nd quarter worth approximately $26,000. nVerses Capital LLC bought a new stake in shares of Loar during the third quarter worth $45,000. Amalgamated Bank acquired a new stake in shares of Loar during the second quarter worth $37,000. Linonia Partnership LP bought a new stake in Loar in the 2nd quarter valued at $53,000. Finally, RiverPark Advisors LLC acquired a new position in Loar in the 2nd quarter worth $155,000.

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.