Loar (NYSE:LOAR) Reaches New 12-Month High on Analyst Upgrade

Loar Holdings, LLC (NYSE:LOAR)’s stock price reached a new 52-week high on Monday after Morgan Stanley raised their price target on the stock from $70.00 to $75.00. Morgan Stanley currently has an equal weight rating on the stock. Loar traded as high as $81.15 and last traded at $79.08, with a volume of 38113 shares. The stock had previously closed at $78.49.

Several other analysts have also recently weighed in on the stock. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $80.00 target price on shares of Loar in a report on Monday, October 7th. Citigroup upped their price target on Loar from $64.00 to $88.00 and gave the stock a “buy” rating in a report on Tuesday, August 20th.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of LOAR. Arcadia Investment Management Corp MI bought a new stake in shares of Loar during the 2nd quarter worth about $26,000. Amalgamated Bank acquired a new stake in shares of Loar in the second quarter valued at approximately $37,000. nVerses Capital LLC acquired a new stake in Loar during the third quarter worth approximately $45,000. Linonia Partnership LP bought a new stake in shares of Loar during the 2nd quarter valued at $53,000. Finally, RiverPark Advisors LLC acquired a new position in Loar in the second quarter valued at about $155,000.

Loar Stock Performance

The company has a current ratio of 4.86, a quick ratio of 3.09 and a debt-to-equity ratio of 0.33. The stock has a 50-day moving average price of $74.18.

Loar (NYSE:LOAR) last issued its earnings results 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 analyst estimates of $91.70 million. The firm’s revenue was up 31.2% on a year-over-year basis. On average, analysts expect that Loar Holdings, LLC will post 0.37 EPS for the current fiscal year.

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.