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

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

Several other research firms also recently weighed in on LOAR. Royal Bank of Canada reiterated an “outperform” rating and set a $80.00 target price on shares of Loar in a research report on Monday, October 7th. Citigroup boosted their price objective on 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 1.0 %

Shares of LOAR opened at $78.49 on Friday. The company has a debt-to-equity ratio of 0.33, a current ratio of 4.86 and a quick ratio of 3.09. The business has a fifty day moving average price of $73.69. Loar has a one year low of $42.57 and a one year high of $80.79.

Loar (NYSE:LOAR) last released its earnings results on Tuesday, August 13th. The company reported $0.13 earnings per share for the quarter, beating the consensus estimate of $0.10 by $0.03. The company had revenue of $97.10 million for the quarter, compared to analysts’ expectations of $91.70 million. The company’s revenue was up 31.2% compared to the same quarter last year. On average, research analysts predict that Loar will post 0.37 EPS for the current year.

Institutional Investors Weigh In On Loar

Several large investors have recently made changes to their positions in the company. Arcadia Investment Management Corp MI bought a new stake in shares of Loar in the second quarter worth about $26,000. nVerses Capital LLC bought a new stake in shares of Loar in the third quarter worth about $45,000. Amalgamated Bank bought a new stake in shares of Loar in the second quarter worth about $37,000. Linonia Partnership LP bought a new stake in shares of Loar in the second quarter worth about $53,000. Finally, Renaissance Capital LLC increased its holdings in shares of Loar by 22.4% in the third quarter. Renaissance Capital LLC now owns 11,392 shares of the company’s stock worth $850,000 after purchasing an additional 2,083 shares during the last quarter.

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.