Loar (NYSE:LOAR) Raised to Overweight at Morgan Stanley

Loar (NYSE:LOAR) was upgraded by analysts at Morgan Stanley from an “equal weight” rating to an “overweight” rating in a research note issued to investors on Thursday, MarketBeat Ratings reports. The brokerage currently has a $91.00 target price on the stock. Morgan Stanley’s price objective indicates a potential upside of 31.52% from the company’s current price.

Separately, Royal Bank of Canada reiterated an “outperform” rating and set a $92.00 price target on shares of Loar in a research report on Tuesday.

Loar Price Performance

Shares of NYSE:LOAR opened at $69.19 on Thursday. Loar has a 12 month low of $42.57 and a 12 month high of $96.99. 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 stock has a market cap of $6.47 billion and a P/E ratio of 288.30. The company has a 50 day moving average of $70.68 and a 200 day moving average of $76.90.

Loar (NYSE:LOAR) last released its quarterly earnings results on Monday, March 31st. The company reported $0.11 EPS for the quarter, meeting analysts’ consensus estimates of $0.11. The firm had revenue of $110.40 million for the quarter, compared to analysts’ expectations of $102.51 million. The business’s quarterly revenue was up 27.8% on a year-over-year basis. As a group, sell-side analysts forecast that Loar will post 0.28 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Sterling Capital Management LLC lifted its stake in Loar by 141.5% during the fourth quarter. Sterling Capital Management LLC now owns 500 shares of the company’s stock worth $37,000 after purchasing an additional 293 shares during the last quarter. Corebridge Financial Inc. boosted its stake in Loar by 174.3% in the fourth quarter. Corebridge Financial Inc. now owns 524 shares of the company’s stock worth $39,000 after buying an additional 333 shares in the last quarter. State of Wyoming purchased a new stake in Loar in the fourth quarter worth approximately $53,000. Arcadia Investment Management Corp MI bought a new position in Loar during the fourth quarter valued at approximately $61,000. Finally, Gen Wealth Partners Inc purchased a new position in shares of Loar during the fourth quarter worth approximately $62,000.

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.