Alliancebernstein L.P. Purchases 181,225 Shares of Loar Holdings Inc. $LOAR

Key Points

• Alliancebernstein L.P. increased its stake in Loar Holdings Inc. by 30.9%, now owning 767,863 shares valued at approximately $54.25 million.
• Loar has shown strong financial performance, reporting a quarterly revenue of $123.12 million, a year-over-year increase of 26.8%, and EPS exceeding analysts' expectations.
• Wall Street analysts maintain a consensus "Buy" rating for Loar, with an average price target of $97.00, reflecting positive growth forecasts.

Alliancebernstein L.P. raised its holdings in Loar Holdings Inc. (NYSE:LOAR - Free Report) by 30.9% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 767,863 shares of the company's stock after buying an additional 181,225 shares during the quarter. Alliancebernstein L.P. owned 0.82% of Loar worth $54,250,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. PDT Partners LLC increased its stake in Loar by 137.4% in the first quarter. PDT Partners LLC now owns 41,306 shares of the company's stock valued at $2,918,000 after acquiring an additional 23,907 shares during the period. Royal Bank of Canada grew its stake in shares of Loar by 7.6% in the 1st quarter. Royal Bank of Canada now owns 15,310 shares of the company's stock valued at $1,082,000 after purchasing an additional 1,081 shares during the period. Kingdon Capital Management L.L.C. grew its stake in shares of Loar by 33.3% in the 1st quarter. Kingdon Capital Management L.L.C. now owns 100,000 shares of the company's stock valued at $7,065,000 after purchasing an additional 25,000 shares during the period. Driehaus Capital Management LLC grew its stake in shares of Loar by 2.8% in the 1st quarter. Driehaus Capital Management LLC now owns 350,741 shares of the company's stock valued at $24,780,000 after purchasing an additional 9,597 shares during the period. Finally, MetLife Investment Management LLC grew its position in Loar by 16.1% in the first quarter. MetLife Investment Management LLC now owns 2,014 shares of the company's stock valued at $142,000 after acquiring an additional 279 shares during the period.

Analyst Ratings Changes

A number of analysts have weighed in on the company. Citigroup upped their price target on Loar from $91.00 to $99.00 and gave the company a "buy" rating in a research report on Thursday, May 15th. Wall Street Zen raised shares of Loar from a "hold" rating to a "buy" rating in a research note on Saturday, August 16th. Finally, Morgan Stanley assumed coverage on shares of Loar in a research note on Friday, May 23rd. They set an "overweight" rating and a $100.00 price objective on the stock. Three equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the stock has a consensus rating of "Buy" and an average target price of $97.00.

Loar Price Performance

NYSE:LOAR traded down $1.37 during mid-day trading on Friday, reaching $78.08. 132,694 shares of the company were exchanged, compared to its average volume of 841,967. Loar Holdings Inc. has a 12 month low of $62.10 and a 12 month high of $99.67. The company has a fifty day moving average of $73.96 and a 200 day moving average of $78.66. The company has a quick ratio of 4.01, a current ratio of 6.15 and a debt-to-equity ratio of 0.25. The stock has a market cap of $7.31 billion, a PE ratio of 169.75 and a beta of 0.09.

Loar (NYSE:LOAR - Get Free Report) last issued its quarterly earnings data on Wednesday, August 13th. The company reported $0.23 EPS for the quarter, topping analysts' consensus estimates of $0.19 by $0.04. Loar had a net margin of 9.82% and a return on equity of 5.50%. The firm had revenue of $123.12 million for the quarter, compared to analyst estimates of $122.17 million. During the same quarter in the prior year, the firm earned $0.13 EPS. The company's revenue was up 26.8% on a year-over-year basis. Loar has set its FY 2025 guidance at 0.830-0.88 EPS. On average, research analysts anticipate that Loar Holdings Inc. will post 0.28 EPS for the current fiscal 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.