Odyssean LLC increased its stake in Loar Holdings Inc. (NYSE:LOAR – Free Report) by 111.3% in the second quarter, Holdings Channel reports. The institutional investor owned 43,660 shares of the company’s stock after acquiring an additional 22,996 shares during the quarter. Loar accounts for about 0.6% of Odyssean LLC’s portfolio, making the stock its 7th largest position. Odyssean LLC’s holdings in Loar were worth $3,519,000 as of its most recent SEC filing.
Several other institutional investors have also recently added to or reduced their stakes in the stock. Rakuten Securities Inc. bought a new position in Loar during the 2nd quarter valued at $27,000. Fifth Third Bancorp bought a new stake in shares of Loar in the 4th quarter worth about $28,000. Nykredit A S bought a new stake in shares of Loar in the 2nd quarter worth about $33,000. Sunbelt Securities Inc. raised its stake in shares of Loar by 238.3% in the 4th quarter. Sunbelt Securities Inc. now owns 592 shares of the company’s stock valued at $40,000 after purchasing an additional 417 shares in the last quarter. Finally, Danske Bank A S acquired a new stake in shares of Loar in the 4th quarter valued at about $62,000.
Analysts Set New Price Targets
A number of research firms recently commented on LOAR. Zacks Research downgraded Loar from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, August 5th. Weiss Ratings upgraded Loar from a “hold (c-)” rating to a “hold (c)” rating in a research note on Friday, July 10th. Royal Bank Of Canada increased their target price on Loar from $80.00 to $85.00 and gave the stock an “outperform” rating in a report on Friday, August 7th. Citigroup lifted their target price on Loar from $71.00 to $87.00 and gave the stock a “buy” rating in a research report on Thursday, June 25th. Finally, Jefferies Financial Group reiterated a “buy” rating and issued a $88.00 price target on shares of Loar in a report on Sunday, August 9th. Four investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $88.00.
Loar Stock Performance
Shares of LOAR opened at $67.79 on Friday. The firm has a fifty day moving average of $73.14 and a 200-day moving average of $67.28. The company has a market cap of $6.35 billion, a price-to-earnings ratio of 94.15 and a beta of 0.56. The company has a debt-to-equity ratio of 0.79, a quick ratio of 3.24 and a current ratio of 4.91. Loar Holdings Inc. has a 1 year low of $53.15 and a 1 year high of $83.43.
Loar (NYSE:LOAR – Get Free Report) last released its quarterly earnings data on Thursday, August 6th. The company reported $0.38 earnings per share for the quarter, topping analysts’ consensus estimates of $0.31 by $0.07. The business had revenue of $171.58 million for the quarter, compared to analysts’ expectations of $162.80 million. Loar had a net margin of 11.60% and a return on equity of 9.37%. The company’s revenue for the quarter was up 39.4% compared to the same quarter last year. During the same quarter last year, the company earned $0.23 EPS. Loar has set its FY 2026 guidance at 1.320-1.360 EPS. As a group, equities analysts anticipate that Loar Holdings Inc. will post 1.2 earnings per share for the current 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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