Loar Holdings Inc. $LOAR Shares Purchased by Rhumbline Advisers

Key Points

• Rhumbline Advisers increased its stake in Loar Holdings Inc. by 26.9%, acquiring an additional 7,188 shares and bringing its total holdings to 33,950 shares, valued at approximately $2.4 million.
• Loar Holdings reported earnings per share of $0.23 for the most recent quarter, exceeding analysts' expectations of $0.19, with revenue up by 26.8% year-over-year.
• Several firms, including Morgan Stanley and Wall Street Zen, have recently rated Loar stock with a buy outlook, setting a price target around $97.00.

Rhumbline Advisers raised its position in Loar Holdings Inc. (NYSE:LOAR - Free Report) by 26.9% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 33,950 shares of the company's stock after acquiring an additional 7,188 shares during the period. Rhumbline Advisers' holdings in Loar were worth $2,399,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. lifted its stake in shares of Loar by 0.5% in the first quarter. Vanguard Group Inc. now owns 2,735,157 shares of the company's stock valued at $193,239,000 after purchasing an additional 13,832 shares during the period. T. Rowe Price Investment Management Inc. lifted its stake in shares of Loar by 232.6% in the first quarter. T. Rowe Price Investment Management Inc. now owns 1,601,485 shares of the company's stock valued at $113,145,000 after purchasing an additional 1,119,958 shares during the period. Invesco Ltd. lifted its stake in shares of Loar by 38.5% in the first quarter. Invesco Ltd. now owns 1,179,384 shares of the company's stock valued at $83,323,000 after purchasing an additional 327,888 shares during the period. Federated Hermes Inc. lifted its stake in shares of Loar by 13.8% in the first quarter. Federated Hermes Inc. now owns 1,136,653 shares of the company's stock valued at $80,305,000 after purchasing an additional 137,920 shares during the period. Finally, Alliancebernstein L.P. lifted its stake in shares of Loar by 30.9% in the first quarter. Alliancebernstein L.P. now owns 767,863 shares of the company's stock valued at $54,250,000 after purchasing an additional 181,225 shares during the period.

Loar Stock Down 1.6%

Shares of NYSE LOAR traded down $1.31 during trading on Friday, reaching $80.01. 1,833,319 shares of the stock were exchanged, compared to its average volume of 891,937. The business's 50-day moving average price is $73.86 and its 200 day moving average price is $79.04. Loar Holdings Inc. has a twelve month low of $62.10 and a twelve month high of $99.67. 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 company has a market capitalization of $7.49 billion, a price-to-earnings ratio of 173.94 and a beta of 0.09.

Loar (NYSE:LOAR - Get Free Report) last posted its earnings results 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 business had revenue of $123.12 million for the quarter, compared to analysts' expectations of $122.17 million. During the same period in the previous year, the company posted $0.13 earnings per share. The business's revenue for the quarter was up 26.8% compared to the same quarter last year. Loar has set its FY 2025 guidance at 0.830-0.88 EPS. As a group, equities analysts forecast that Loar Holdings Inc. will post 0.28 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts recently commented on LOAR shares. Morgan Stanley started coverage on shares of Loar in a research note on Friday, May 23rd. They issued an "overweight" rating and a $100.00 price objective for the company. Wall Street Zen upgraded shares of Loar from a "hold" rating to a "buy" rating in a report on Saturday, August 16th. Three equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the stock currently has a consensus rating of "Buy" and a consensus target price of $97.00.

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.