Loar (NYSE:LOAR – Get Free Report) had its price objective raised by investment analysts at Morgan Stanley from $70.00 to $75.00 in a note issued to investors on Friday, Benzinga reports. The firm presently has an “equal weight” rating on the stock. Morgan Stanley’s price target indicates a potential downside of 3.54% from the company’s current price.
A number of other equities analysts have also weighed in on the stock. Citigroup boosted their price objective on shares of Loar from $64.00 to $88.00 and gave the stock a “buy” rating in a report on Tuesday, August 20th. Royal Bank of Canada reiterated an “outperform” rating and issued a $80.00 price target on shares of Loar in a research note on Monday, October 7th.
Get Our Latest Stock Report on Loar
Loar Stock Up 1.4 %
Loar (NYSE:LOAR – Get Free Report) last released its earnings results on Tuesday, August 13th. The company reported $0.13 EPS for the quarter, topping the consensus estimate of $0.10 by $0.03. The company had revenue of $97.10 million during the quarter, compared to the consensus estimate of $91.70 million. Loar’s revenue for the quarter was up 31.2% compared to the same quarter last year. Analysts predict that Loar will post 0.37 earnings per share for the current fiscal year.
Institutional Inflows and Outflows
Several institutional investors and hedge funds have recently bought and sold shares of LOAR. Renaissance Capital LLC purchased a new position in shares of Loar in the second quarter worth approximately $497,000. TCW Group Inc. bought a new stake in shares of Loar during the 2nd quarter valued at $7,366,000. Zweig DiMenna Associates LLC purchased a new stake in shares of Loar in the 2nd quarter worth $9,208,000. Calamos Advisors LLC bought a new position in Loar in the 2nd quarter worth $492,000. Finally, Bank of New York Mellon Corp bought a new position in Loar in the 2nd quarter worth $439,000.
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.
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