Loar (NYSE:LOAR) Price Target Raised to $75.00

Loar (NYSE:LOAR) had its price target lifted by Morgan Stanley from $70.00 to $75.00 in a research note released on Friday, Benzinga reports. They currently have an equal weight rating on the stock.

A number of other research analysts have also commented on LOAR. Royal Bank of Canada reaffirmed an “outperform” rating and set a $80.00 price target on shares of Loar in a research report on Monday, October 7th. Citigroup increased 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.

Loar Stock Performance

Loar stock opened at $78.49 on Friday. Loar has a 52 week low of $42.57 and a 52 week high of $80.79. The business’s 50-day simple moving average is $73.69. 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 (NYSE:LOAR) last posted its quarterly earnings data on Tuesday, August 13th. The company reported $0.13 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.10 by $0.03. The firm had revenue of $97.10 million during the quarter, compared to analysts’ expectations of $91.70 million. The company’s quarterly revenue was up 31.2% on a year-over-year basis. Analysts forecast that Loar will post 0.37 EPS for the current fiscal year.

Institutional Trading of Loar

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Arcadia Investment Management Corp MI purchased a new stake in shares of Loar in the 2nd quarter worth approximately $26,000. Amalgamated Bank purchased a new stake in Loar during the 2nd quarter valued at $37,000. nVerses Capital LLC purchased a new stake in Loar during the 3rd quarter valued at $45,000. Linonia Partnership LP purchased a new stake in Loar during the 2nd quarter valued at $53,000. Finally, RiverPark Advisors LLC bought a new position in shares of Loar during the 2nd quarter valued at $155,000.

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.