Loar (NYSE:LOAR) Price Target Raised to $89.00

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

A number of other equities research analysts also recently weighed in on LOAR. Citigroup boosted their price target on shares of Loar from $64.00 to $88.00 and gave the stock a “buy” rating in a research note on Tuesday, August 20th. Royal Bank of Canada reissued an “outperform” rating and issued a $100.00 target price on shares of Loar in a research note on Thursday, November 14th.

Loar Stock Up 0.3 %

Shares of NYSE:LOAR opened at $88.06 on Monday. Loar has a twelve month low of $42.57 and a twelve month high of $95.35. The business has a fifty day moving average of $79.36 and a 200-day moving average of $66.87. 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 earnings results on Wednesday, November 13th. The company reported $0.15 EPS for the quarter, beating the consensus estimate of $0.13 by $0.02. The firm had revenue of $103.52 million during the quarter, compared to analyst estimates of $97.30 million. Loar’s quarterly revenue was up 25.0% on a year-over-year basis. Analysts forecast that Loar will post 0.37 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Loar

Several institutional investors and hedge funds have recently modified their holdings of LOAR. Renaissance Capital LLC bought a new stake in shares of Loar during the second quarter worth $497,000. TCW Group Inc. acquired a new stake in shares of Loar in the 2nd quarter valued at approximately $7,366,000. Zweig DiMenna Associates LLC bought a new position in shares of Loar in the second quarter valued at $9,208,000. Calamos Advisors LLC bought a new stake in Loar during the second quarter worth $492,000. Finally, Bank of New York Mellon Corp acquired a new stake in Loar in the second quarter valued at $439,000.

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.