Loar (NYSE:LOAR) Raised to “Overweight” at Morgan Stanley

Loar (NYSE:LOAR) was upgraded by Morgan Stanley from an “equal weight” rating to an “overweight” rating in a research note issued to investors on Thursday,Briefing.com Automated Import reports. The brokerage presently has a $91.00 target price on the stock. Morgan Stanley’s price objective would indicate a potential upside of 18.00% from the company’s previous close.

Separately, Royal Bank of Canada reiterated an “outperform” rating and set a $92.00 price objective on shares of Loar in a research report on Tuesday.

Loar Price Performance

NYSE LOAR opened at $77.12 on Thursday. The business has a fifty day moving average price of $70.99 and a two-hundred day moving average price of $76.95. Loar has a fifty-two week low of $42.57 and a fifty-two week high of $96.99. The company has a debt-to-equity ratio of 0.78, a quick ratio of 2.28 and a current ratio of 3.95.

Loar (NYSE:LOAR) last released its quarterly earnings data on Monday, March 31st. The company reported $0.11 earnings per share for the quarter, meeting the consensus estimate of $0.11. The business had revenue of $110.40 million during the quarter, compared to analyst estimates of $102.51 million. The firm’s revenue was up 27.8% compared to the same quarter last year. As a group, research analysts anticipate that Loar will post 0.28 EPS for the current year.

Institutional Trading of Loar

A number of hedge funds have recently made changes to their positions in the company. Sterling Capital Management LLC increased its stake in shares of Loar by 141.5% in the fourth quarter. Sterling Capital Management LLC now owns 500 shares of the company’s stock valued at $37,000 after buying an additional 293 shares during the period. Corebridge Financial Inc. grew its holdings in Loar by 174.3% during the 4th quarter. Corebridge Financial Inc. now owns 524 shares of the company’s stock worth $39,000 after acquiring an additional 333 shares during the last quarter. State of Wyoming acquired a new position in Loar in the 4th quarter valued at approximately $53,000. Arcadia Investment Management Corp MI bought a new position in shares of Loar during the fourth quarter valued at $61,000. Finally, Gen Wealth Partners Inc bought a new position in shares of Loar during the fourth quarter valued at $62,000.

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.