Fred Alger Management LLC lessened its position in shares of Loar Holdings Inc. (NYSE:LOAR – Free Report) by 6.0% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 628,012 shares of the company’s stock after selling 39,881 shares during the period. Fred Alger Management LLC’s holdings in Loar were worth $42,705,000 at the end of the most recent reporting period.
A number of other large investors have also bought and sold shares of LOAR. Capital International Investors increased its stake in Loar by 909.3% in the third quarter. Capital International Investors now owns 4,461,517 shares of the company’s stock valued at $356,921,000 after purchasing an additional 4,019,489 shares in the last quarter. Wasatch Advisors LP increased its stake in Loar by 290.9% in the second quarter. Wasatch Advisors LP now owns 2,624,649 shares of the company’s stock valued at $226,166,000 after purchasing an additional 1,953,148 shares in the last quarter. Bamco Inc. NY increased its stake in Loar by 165.2% in the third quarter. Bamco Inc. NY now owns 1,809,099 shares of the company’s stock valued at $144,728,000 after purchasing an additional 1,127,033 shares in the last quarter. UBS Group AG increased its stake in Loar by 266.0% in the fourth quarter. UBS Group AG now owns 1,276,780 shares of the company’s stock valued at $86,821,000 after purchasing an additional 927,908 shares in the last quarter. Finally, Spyglass Capital Management LLC bought a new stake in Loar in the third quarter valued at $67,926,000.
Analysts Set New Price Targets
Several equities research analysts have weighed in on the stock. Royal Bank Of Canada decreased their price target on shares of Loar from $90.00 to $80.00 and set an “outperform” rating for the company in a research note on Friday, May 8th. Jefferies Financial Group set a $75.00 price target on shares of Loar in a research note on Sunday, May 10th. Morgan Stanley set a $91.00 price target on shares of Loar in a research note on Friday, May 8th. Wall Street Zen downgraded shares of Loar from a “buy” rating to a “hold” rating in a research note on Saturday, February 28th. Finally, Weiss Ratings downgraded shares of Loar from a “hold (c)” rating to a “hold (c-)” rating in a research note on Tuesday, May 26th. Four investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $83.00.
Insider Activity
In other news, Director Taiwo K. Danmola sold 35,000 shares of Loar stock in a transaction dated Wednesday, May 20th. The shares were sold at an average price of $60.59, for a total transaction of $2,120,650.00. Following the completion of the transaction, the director directly owned 54,286 shares in the company, valued at $3,289,188.74. This trade represents a 39.20% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 20.10% of the stock is owned by corporate insiders.
Loar Stock Down 1.5%
Shares of NYSE LOAR opened at $67.70 on Wednesday. The stock has a market capitalization of $6.34 billion, a P/E ratio of 95.35 and a beta of 0.69. The company has a 50-day moving average price of $62.36 and a 200-day moving average price of $65.67. Loar Holdings Inc. has a 1 year low of $53.15 and a 1 year high of $88.75. The company has a debt-to-equity ratio of 0.80, a current ratio of 4.56 and a quick ratio of 2.89.
Loar (NYSE:LOAR – Get Free Report) last issued its quarterly earnings data on Thursday, May 7th. The company reported $0.34 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.15 by $0.19. The firm had revenue of $156.09 million during the quarter, compared to analysts’ expectations of $149.71 million. Loar had a net margin of 12.64% and a return on equity of 8.47%. The business’s revenue was up 36.1% on a year-over-year basis. During the same period last year, the company earned $0.16 earnings per share. Loar has set its FY 2026 guidance at 1.260-1.300 EPS. On average, equities research analysts forecast that Loar Holdings Inc. will post 1.16 EPS for the current fiscal 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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