TimesSquare Capital Management LLC Boosts Stock Holdings in Loar Holdings, LLC (NYSE:LOAR)

TimesSquare Capital Management LLC grew its stake in shares of Loar Holdings, LLC (NYSE:LOAR) by 57.3% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 410,509 shares of the company’s stock after buying an additional 149,460 shares during the period. TimesSquare Capital Management LLC owned 0.46% of Loar worth $30,620,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Renaissance Capital LLC purchased a new stake in Loar during the second quarter valued at about $497,000. TCW Group Inc. acquired a new position in Loar during the second quarter valued at approximately $7,366,000. Zweig DiMenna Associates LLC purchased a new stake in Loar during the second quarter worth approximately $9,208,000. Calamos Advisors LLC acquired a new stake in shares of Loar in the second quarter worth $492,000. Finally, Bank of New York Mellon Corp purchased a new position in shares of Loar in the 2nd quarter valued at $439,000.

Loar Trading Up 4.9 %

Loar stock opened at $88.86 on Friday. Loar Holdings, LLC has a 12-month low of $42.57 and a 12-month high of $92.17. The company has a quick ratio of 3.09, a current ratio of 4.86 and a debt-to-equity ratio of 0.33. The firm’s fifty day moving average price is $77.53 and its 200 day moving average price is $65.25.

Loar (NYSE:LOAR) last announced its 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 analysts’ expectations of $91.70 million. The firm’s revenue for the quarter was up 31.2% compared to the same quarter last year. Analysts anticipate that Loar Holdings, LLC will post 0.37 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

LOAR has been the subject of a number of research reports. Royal Bank of Canada reaffirmed an “outperform” rating and set a $80.00 price target on shares of Loar in a research report on Monday, October 7th. Morgan Stanley upped their target price on Loar from $70.00 to $75.00 and gave the stock an “equal weight” rating in a research report on Friday, October 18th. Finally, Citigroup raised their target price on Loar from $64.00 to $88.00 and gave the company a “buy” rating in a report on Tuesday, August 20th.

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.