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

Loar (NYSE:LOAR) had its target price boosted by Morgan Stanley from $75.00 to $89.00 in a research note released on Monday morning,Benzinga reports. The brokerage currently has an equal weight rating on the stock.

Several other research firms have also weighed in on LOAR. Citigroup boosted their price objective 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 set a $100.00 price target on shares of Loar in a research report on Thursday, November 14th.

Loar Price Performance

Shares of LOAR stock opened at $90.74 on Monday. The firm’s fifty day moving average price is $79.60 and its two-hundred day moving average price is $67.02. Loar has a 1 year low of $42.57 and a 1 year 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.

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

Institutional Trading of Loar

A number of hedge funds have recently modified their holdings of LOAR. Barclays PLC raised its holdings in Loar by 871.3% in the 3rd quarter. Barclays PLC now owns 2,943 shares of the company’s stock valued at $219,000 after acquiring an additional 2,640 shares during the period. Geode Capital Management LLC grew its position in shares of Loar by 1.5% in the third quarter. Geode Capital Management LLC now owns 175,575 shares of the company’s stock valued at $13,100,000 after purchasing an additional 2,551 shares during the last quarter. Y Intercept Hong Kong Ltd bought a new position in shares of Loar during the third quarter worth approximately $332,000. State Street Corp lifted its holdings in 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 purchasing an additional 335,376 shares during the last quarter. Finally, Polar Asset Management Partners Inc. bought a new stake in Loar in the 3rd quarter valued at $306,000.

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.