Loar (NYSE:LOAR) Price Target Raised to $70.00 at Morgan Stanley

Loar (NYSE:LOAR) had its price objective increased by Morgan Stanley from $55.00 to $70.00 in a research note published on Wednesday, Benzinga reports. Morgan Stanley currently has an equal weight rating on the stock.

Several other equities analysts have also issued reports on LOAR. Royal Bank of Canada began coverage on shares of Loar in a report on Monday, May 20th. They set an outperform rating and a $60.00 price objective on the stock. Citigroup began coverage on shares of Loar in a report on Monday, May 20th. They set a buy rating and a $64.00 price objective on the stock. Finally, Jefferies Financial Group began coverage on shares of Loar in a report on Monday, June 3rd. They set a buy rating and a $65.00 price objective on the stock.

Loar Price Performance

Shares of NYSE LOAR opened at $74.95 on Wednesday. The company has a quick ratio of 1.68, a current ratio of 3.09 and a debt-to-equity ratio of 1.26. Loar has a 1 year low of $42.57 and a 1 year high of $76.94. The stock has a 50-day moving average price of $59.60.

Loar (NYSE:LOAR) last issued its earnings results on Tuesday, August 13th. The company reported $0.13 EPS for the quarter, topping analysts’ consensus estimates 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 firm’s revenue was up 31.2% compared to the same quarter last year. On average, sell-side analysts expect that Loar will post 0.5 EPS for the current fiscal year.

Hedge Funds Weigh In On Loar

Several institutional investors and hedge funds have recently bought and sold shares of LOAR. Arcadia Investment Management Corp MI purchased a new position in Loar in the second quarter worth $26,000. Amalgamated Bank purchased a new position in Loar in the second quarter worth $37,000. Linonia Partnership LP purchased a new position in Loar in the second quarter worth $53,000. RiverPark Advisors LLC acquired a new stake in shares of Loar during the second quarter worth $155,000. Finally, WINTON GROUP Ltd acquired a new stake in shares of Loar during the second quarter worth $205,000.

About Loar

Loar Holdings Inc is a diversified manufacturer and supplier of niche aerospace and defense components for aircraft and aerospace and defense systems. Loar Holdings Inc is based in WHITE PLAINS, NY.