SummitTX Capital L.P. purchased a new stake in shares of Loar Holdings Inc. (NYSE:LOAR – Free Report) during the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 17,007 shares of the company’s stock, valued at approximately $974,000.
A number of other hedge funds and other institutional investors have also made changes to their positions in LOAR. Rakuten Securities Inc. purchased a new stake in shares of Loar during the second quarter valued at $27,000. Fifth Third Bancorp purchased a new position in Loar in the 4th quarter worth $28,000. Sunbelt Securities Inc. lifted its position in Loar by 238.3% during the 4th quarter. Sunbelt Securities Inc. now owns 592 shares of the company’s stock worth $40,000 after acquiring an additional 417 shares during the period. Danske Bank A S acquired a new stake in Loar during the 4th quarter worth about $62,000. Finally, State of Wyoming purchased a new stake in Loar during the 1st quarter valued at about $65,000.
Analyst Ratings Changes
A number of research analysts have recently weighed in on the company. Citigroup increased their price objective on Loar from $71.00 to $87.00 and gave the company a “buy” rating in a report on Thursday, June 25th. Royal Bank Of Canada dropped their target price on Loar from $90.00 to $80.00 and set an “outperform” rating on the stock in a research report on Friday, May 8th. Morgan Stanley reiterated an “equal weight” rating and issued a $82.00 price target (down from $91.00) on shares of Loar in a report on Wednesday, July 15th. Jefferies Financial Group set a $75.00 price target on shares of Loar in a research report on Sunday, May 10th. Finally, Zacks Research raised shares of Loar from a “hold” rating to a “strong-buy” rating in a report on Tuesday, July 7th. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $84.40.
Insiders Place Their Bets
In other Loar news, Director Taiwo K. Danmola sold 35,000 shares of the business’s stock in a transaction that occurred on Wednesday, May 20th. The stock was sold at an average price of $60.59, for a total value of $2,120,650.00. Following the completion of the transaction, the director directly owned 54,286 shares of the company’s stock, valued at approximately $3,289,188.74. The trade was a 39.20% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 20.10% of the company’s stock.
Loar Stock Performance
NYSE LOAR opened at $68.47 on Friday. The firm has a market capitalization of $6.41 billion, a P/E ratio of 96.44 and a beta of 0.47. The stock has a 50-day simple moving average of $70.24 and a two-hundred day simple moving average of $66.65. The company has a debt-to-equity ratio of 0.80, a quick ratio of 2.89 and a current ratio of 4.56. Loar Holdings Inc. has a fifty-two week low of $53.15 and a fifty-two week high of $83.43.
Loar (NYSE:LOAR – Get Free Report) last issued its earnings results on Thursday, May 7th. The company reported $0.34 EPS for the quarter, topping analysts’ consensus estimates of $0.15 by $0.19. The firm had revenue of $156.09 million for the quarter, compared to the consensus estimate of $149.71 million. Loar had a return on equity of 8.47% and a net margin of 12.64%.The company’s revenue was up 36.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.16 earnings per share. Loar has set its FY 2026 guidance at 1.260-1.300 EPS. On average, equities analysts forecast that Loar Holdings Inc. will post 1.16 earnings per share for the current 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.
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