Loar (NYSE:LOAR) Given New $89.00 Price Target at Morgan Stanley

Loar (NYSE:LOAR) had its price target upped by Morgan Stanley from $75.00 to $89.00 in a report released on Monday,Benzinga reports. The brokerage presently has an “equal weight” rating on the stock. Morgan Stanley’s price objective would indicate a potential upside of 1.41% from the company’s previous close.

LOAR has been the subject of several other reports. Citigroup raised their price target on Loar from $64.00 to $88.00 and gave the company a “buy” rating in a research note on Tuesday, August 20th. Royal Bank of Canada reissued an “outperform” rating and issued a $100.00 target price on shares of Loar in a research note on Thursday, November 14th.

Loar Stock Performance

Shares of LOAR stock opened at $87.76 on Monday. Loar has a 12 month low of $42.57 and a 12 month high of $95.35. The company’s fifty day simple moving average is $79.07 and its 200-day simple moving average is $66.59. The company has a debt-to-equity ratio of 0.78, a current ratio of 3.95 and a quick ratio of 2.28.

Loar (NYSE:LOAR) last issued its quarterly earnings results on Wednesday, November 13th. The company reported $0.15 EPS for the quarter, topping the consensus estimate of $0.13 by $0.02. The business had revenue of $103.52 million for the quarter, compared to the consensus estimate of $97.30 million. Loar’s revenue was up 25.0% on a year-over-year basis. On average, research analysts predict that Loar will post 0.37 earnings per share for the current fiscal year.

Institutional Trading of Loar

A number of hedge funds have recently made changes to their positions in LOAR. Abrams Capital Management L.P. acquired a new stake in Loar during the 2nd quarter valued at $2,052,780,000. Federated Hermes Inc. acquired a new stake in shares of Loar during the 2nd quarter worth about $38,952,000. State Street Corp boosted its holdings in shares of Loar by 413.3% during the 3rd quarter. State Street Corp now owns 416,531 shares of the company’s stock worth $31,069,000 after buying an additional 335,376 shares during the period. TimesSquare Capital Management LLC grew its stake in Loar by 57.3% in the 3rd quarter. TimesSquare Capital Management LLC now owns 410,509 shares of the company’s stock valued at $30,620,000 after buying an additional 149,460 shares during the last quarter. Finally, Loomis Sayles & Co. L P raised its holdings in Loar by 47.3% in the 3rd quarter. Loomis Sayles & Co. L P now owns 275,500 shares of the company’s stock valued at $20,550,000 after acquiring an additional 88,429 shares during the period.

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.