Amalgamated Bank Takes Position in Loar Holdings, LLC (NYSE:LOAR)

Amalgamated Bank bought a new stake in shares of Loar Holdings, LLC (NYSE:LOAR) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 688 shares of the company’s stock, valued at approximately $37,000.

Several other large investors have also recently made changes to their positions in the business. Renaissance Capital LLC purchased a new position in Loar in the second quarter worth $497,000. TCW Group Inc. bought a new stake in Loar during the second quarter worth about $7,366,000. Zweig DiMenna Associates LLC bought a new stake in Loar during the second quarter worth about $9,208,000. Calamos Advisors LLC bought a new stake in Loar during the second quarter worth about $492,000. Finally, Bank of New York Mellon Corp bought a new stake in Loar in the second quarter valued at $439,000.

Wall Street Analysts Forecast Growth

Several analysts have commented on the stock. Royal Bank of Canada raised their price objective on shares of Loar from $65.00 to $80.00 and gave the stock an “outperform” rating in a report on Wednesday, August 14th. Morgan Stanley raised their price objective on Loar from $55.00 to $70.00 and gave the company an “equal weight” rating in a research report on Wednesday, August 14th. Finally, Citigroup raised their price target on shares of Loar from $64.00 to $88.00 and gave the company a “buy” rating in a report on Tuesday, August 20th.

Loar Stock Performance

Shares of NYSE:LOAR opened at $71.83 on Wednesday. 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 stock’s fifty day moving average is $69.65. Loar Holdings, LLC has a fifty-two week low of $42.57 and a fifty-two week high of $80.79.

Loar (NYSE:LOAR) last issued its quarterly earnings results on Tuesday, August 13th. The company reported $0.13 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.10 by $0.03. The business had revenue of $97.10 million for the quarter, compared to the consensus estimate of $91.70 million. Loar’s quarterly revenue was up 31.2% on a year-over-year basis. Research analysts expect that Loar Holdings, LLC will post 0.44 earnings per share for the current fiscal year.

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.