Loar (NYSE:LOAR) Stock Price Expected to Rise, Morgan Stanley Analyst Says

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

Several other research firms have also recently weighed in on LOAR. Royal Bank of Canada reissued an “outperform” rating and set a $100.00 price target on shares of Loar in a report on Thursday, November 14th. Citigroup boosted their target price on shares of Loar from $64.00 to $88.00 and gave the company a “buy” rating in a research report on Tuesday, August 20th.

Loar Stock Up 0.3 %

NYSE:LOAR opened at $88.06 on Monday. The firm’s fifty day moving average price is $79.36 and its two-hundred day moving average price is $66.87. Loar has a one year low of $42.57 and a one 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 results on Wednesday, November 13th. The company reported $0.15 EPS for the quarter, beating analysts’ consensus estimates of $0.13 by $0.02. The company had revenue of $103.52 million during the quarter, compared to analyst estimates of $97.30 million. The company’s quarterly revenue was up 25.0% on a year-over-year basis. On average, analysts anticipate that Loar will post 0.37 EPS for the current year.

Institutional Trading of Loar

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