TimesSquare Capital Management LLC Has $72.57 Million Position in Loar Holdings Inc. $LOAR

TimesSquare Capital Management LLC lifted its position in Loar Holdings Inc. (NYSE:LOAR) by 16.8% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 907,093 shares of the company’s stock after purchasing an additional 130,364 shares during the quarter. TimesSquare Capital Management LLC owned 0.97% of Loar worth $72,567,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Royal Bank of Canada grew its holdings in shares of Loar by 7.6% during the first quarter. Royal Bank of Canada now owns 15,310 shares of the company’s stock worth $1,082,000 after purchasing an additional 1,081 shares during the last quarter. Goldman Sachs Group Inc. increased its position in Loar by 10.1% in the 1st quarter. Goldman Sachs Group Inc. now owns 538,592 shares of the company’s stock valued at $38,052,000 after acquiring an additional 49,629 shares in the last quarter. Truist Financial Corp bought a new stake in Loar during the 2nd quarter worth about $226,000. Huntleigh Advisors Inc. raised its position in shares of Loar by 5.9% during the 2nd quarter. Huntleigh Advisors Inc. now owns 12,155 shares of the company’s stock valued at $1,047,000 after acquiring an additional 678 shares during the last quarter. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new position in Loar in the second quarter valued at about $284,000.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on LOAR. The Goldman Sachs Group initiated coverage on shares of Loar in a research note on Tuesday, November 25th. They set a “buy” rating and a $91.00 price objective on the stock. Morgan Stanley reduced their price objective on Loar from $100.00 to $97.00 and set an “overweight” rating for the company in a research report on Thursday, November 13th. Weiss Ratings restated a “hold (c)” rating on shares of Loar in a research note on Monday, December 29th. Wall Street Zen upgraded Loar from a “hold” rating to a “buy” rating in a research note on Saturday. Finally, Citigroup lowered their target price on shares of Loar from $87.00 to $81.00 and set a “buy” rating on the stock in a report on Thursday, February 5th. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and an average price target of $90.25.

Loar Stock Up 0.3%

NYSE LOAR opened at $64.50 on Friday. Loar Holdings Inc. has a fifty-two week low of $62.10 and a fifty-two week high of $99.67. The company has a debt-to-equity ratio of 0.24, a current ratio of 5.92 and a quick ratio of 3.81. The business has a fifty day moving average price of $69.40 and a two-hundred day moving average price of $72.63. The stock has a market capitalization of $6.04 billion, a PE ratio of 97.73 and a beta of 0.37.

Loar (NYSE:LOAR) last posted its earnings results on Wednesday, November 12th. The company reported $0.35 EPS for the quarter, topping analysts’ consensus estimates of $0.22 by $0.13. Loar had a net margin of 13.33% and a return on equity of 6.45%. The firm had revenue of $126.75 million during the quarter, compared to analysts’ expectations of $126.80 million. During the same quarter in the prior year, the business earned $0.15 earnings per share. The business’s revenue for the quarter was up 22.5% compared to the same quarter last year. Equities analysts expect that Loar Holdings Inc. will post 0.28 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.