Loar (NYSE:LOAR) Now Covered by Analysts at Morgan Stanley

Analysts at Morgan Stanley assumed coverage on shares of Loar (NYSE:LOAR - Get Free Report) in a research note issued to investors on Friday. The firm set an "overweight" rating and a $100.00 price target on the stock. Morgan Stanley's price objective would suggest a potential upside of 18.68% from the company's current price.

Several other research analysts have also recently issued reports on the company. Citigroup increased their price objective on Loar from $91.00 to $99.00 and gave the stock a "buy" rating in a research report on Thursday, May 15th. Royal Bank of Canada restated an "outperform" rating and set a $92.00 price objective on shares of Loar in a research report on Tuesday, April 1st. Finally, Wall Street Zen upgraded shares of Loar from a "hold" rating to a "buy" rating in a report on Thursday. Five investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Loar has an average rating of "Buy" and a consensus price target of $89.00.

Loar Price Performance

LOAR stock opened at $84.26 on Friday. The company has a current ratio of 3.95, a quick ratio of 2.28 and a debt-to-equity ratio of 0.78. The company has a market capitalization of $7.88 billion and a P/E ratio of 221.73. Loar has a twelve month low of $50.02 and a twelve month high of $99.67. The business has a 50 day simple moving average of $82.81 and a 200-day simple moving average of $79.49.

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

Insider Buying and Selling

In other news, Director David C. Abrams sold 703,691 shares of the stock in a transaction on Friday, May 16th. The shares were sold at an average price of $80.91, for a total value of $56,935,638.81. Following the completion of the sale, the director now owns 32,050,240 shares of the company's stock, valued at $2,593,184,918.40. This represents a 2.15% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Alison Bomberg sold 690,258 shares of the firm's stock in a transaction dated Friday, May 16th. The shares were sold at an average price of $80.91, for a total value of $55,848,774.78. Following the sale, the director now owns 31,438,420 shares in the company, valued at approximately $2,543,682,562.20. The trade was a 2.15% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 5,742,872 shares of company stock valued at $464,655,774.

Institutional Investors Weigh In On Loar

A number of institutional investors have recently modified their holdings of the stock. GAMMA Investing LLC boosted its position in Loar by 204.9% during the 1st quarter. GAMMA Investing LLC now owns 372 shares of the company's stock valued at $26,000 after purchasing an additional 250 shares during the period. Sterling Capital Management LLC lifted its stake in Loar by 141.5% during the fourth quarter. Sterling Capital Management LLC now owns 500 shares of the company's stock valued at $37,000 after purchasing an additional 293 shares during the last quarter. Corebridge Financial Inc. boosted its stake in shares of 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 in the last quarter. State of Wyoming acquired a new position in shares of Loar in the 4th quarter valued at $53,000. Finally, Caitong International Asset Management Co. Ltd increased its position in shares of Loar by 5,286.7% in the first quarter. Caitong International Asset Management Co. Ltd now owns 808 shares of the company's stock worth $57,000 after acquiring an additional 793 shares in the last quarter.

About Loar

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.

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