nVerses Capital LLC acquired a new position in shares of Loar Holdings, LLC (NYSE:LOAR – Free Report) during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 600 shares of the company’s stock, valued at approximately $45,000.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Arcadia Investment Management Corp MI purchased a new position in shares of Loar during the 2nd quarter worth about $26,000. Amalgamated Bank bought a new position in shares of Loar during the second quarter valued at approximately $37,000. Linonia Partnership LP purchased a new stake in shares of Loar in the second quarter worth approximately $53,000. RiverPark Advisors LLC bought a new stake in shares of Loar during the 2nd quarter worth approximately $155,000. Finally, WINTON GROUP Ltd purchased a new position in Loar during the 2nd quarter valued at $205,000.
Analyst Ratings Changes
LOAR has been the subject of several research analyst reports. Citigroup lifted their target price on Loar from $64.00 to $88.00 and gave the stock a “buy” rating in a research report on Tuesday, August 20th. Morgan Stanley upped their target price on shares of Loar from $70.00 to $75.00 and gave the stock an “equal weight” rating in a research note on Friday, October 18th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $80.00 price target on shares of Loar in a research note on Monday, October 7th.
Loar Stock Up 1.6 %
Shares of LOAR opened at $81.04 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 has a 50 day simple moving average of $74.18. Loar Holdings, LLC has a fifty-two week low of $42.57 and a fifty-two week high of $81.78.
Loar (NYSE:LOAR – Get Free Report) last announced its earnings results on Tuesday, August 13th. The company reported $0.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.10 by $0.03. The company had revenue of $97.10 million for the quarter, compared to the consensus estimate of $91.70 million. The firm’s revenue was up 31.2% on a year-over-year basis. As a group, sell-side analysts anticipate that Loar Holdings, LLC will post 0.37 earnings per share for the current fiscal year.
Loar 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.
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