Loar (NYSE:LOAR) Stock Rating Upgraded by Morgan Stanley

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

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

Loar Stock Up 8.1 %

Loar stock opened at $77.12 on Thursday. The stock’s 50 day moving average is $70.99 and its 200 day moving average is $76.95. The company has a quick ratio of 2.28, a current ratio of 3.95 and a debt-to-equity ratio of 0.78. Loar has a one year low of $42.57 and a one year high of $96.99.

Loar (NYSE:LOAR) last issued its quarterly earnings results on Monday, March 31st. The company reported $0.11 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.11. The firm had revenue of $110.40 million during the quarter, compared to analyst estimates of $102.51 million. The business’s quarterly revenue was up 27.8% on a year-over-year basis. On average, research analysts anticipate that Loar will post 0.28 EPS for the current fiscal year.

Hedge Funds Weigh In On Loar

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