Grandeur Peak Global Advisors LLC Acquires Shares of 9,962 Loar Holdings, LLC (NYSE:LOAR)

Grandeur Peak Global Advisors LLC bought a new position in shares of Loar Holdings, LLC (NYSE:LOAR) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 9,962 shares of the company’s stock, valued at approximately $736,000.

Other hedge funds have also modified their holdings of the company. Sterling Capital Management LLC boosted its position in Loar by 141.5% during the fourth quarter. Sterling Capital Management LLC now owns 500 shares of the company’s stock worth $37,000 after purchasing an additional 293 shares in the last quarter. Corebridge Financial Inc. lifted its position in shares of Loar by 174.3% during the 4th quarter. Corebridge Financial Inc. now owns 524 shares of the company’s stock valued at $39,000 after buying an additional 333 shares in the last quarter. Arcadia Investment Management Corp MI acquired a new stake in Loar in the 4th quarter valued at $61,000. Picton Mahoney Asset Management grew its stake in Loar by 5.6% in the 4th quarter. Picton Mahoney Asset Management now owns 19,300 shares of the company’s stock valued at $1,426,000 after acquiring an additional 1,030 shares during the period. Finally, R Squared Ltd purchased a new stake in Loar in the 4th quarter worth $95,000.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the stock. Morgan Stanley upgraded shares of Loar from an “equal weight” rating to an “overweight” rating and set a $91.00 target price on the stock in a research report on Thursday, April 3rd. Royal Bank of Canada reiterated an “outperform” rating and issued a $92.00 price objective on shares of Loar in a report on Tuesday, April 1st.

Loar Stock Up 2.4 %

Loar stock opened at $87.95 on Friday. Loar Holdings, LLC has a fifty-two week low of $42.57 and a fifty-two week high of $96.99. The company has a debt-to-equity ratio of 0.78, a quick ratio of 2.28 and a current ratio of 3.95. The firm has a 50 day moving average price of $71.03 and a 200 day moving average price of $77.20. The company has a market capitalization of $8.23 billion and a PE ratio of 366.47.

Loar (NYSE:LOAR) last announced its quarterly earnings data on Monday, March 31st. The company reported $0.11 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.11. The business 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% compared to the same quarter last year. Research analysts expect that Loar Holdings, LLC will post 0.28 earnings per share for the current year.

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.