Driehaus Capital Management LLC Grows Position in Loar Holdings Inc. $LOAR

Key Points

• Driehaus Capital Management LLC increased its stake in Loar Holdings Inc. by 2.8%, now holding 350,741 shares worth approximately $24.78 million.
• Analysts have upgraded their ratings for Loar, with three giving it a "Buy" rating and a consensus target price of $97.00.
• Loar Holdings reported a quarterly earnings per share of $0.23, outperforming estimates and showing a 26.8% increase in revenue year-over-year.

Driehaus Capital Management LLC increased its holdings in shares of Loar Holdings Inc. (NYSE:LOAR - Free Report) by 2.8% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 350,741 shares of the company's stock after purchasing an additional 9,597 shares during the quarter. Driehaus Capital Management LLC owned 0.37% of Loar worth $24,780,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Universal Beteiligungs und Servicegesellschaft mbH grew its stake in shares of Loar by 0.3% in the first quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 40,436 shares of the company's stock worth $2,857,000 after acquiring an additional 139 shares during the period. Huntleigh Advisors Inc. grew its stake in shares of Loar by 1.6% in the first quarter. Huntleigh Advisors Inc. now owns 11,477 shares of the company's stock worth $811,000 after acquiring an additional 182 shares during the period. GAMMA Investing LLC grew its stake in shares of Loar by 204.9% in the first quarter. GAMMA Investing LLC now owns 372 shares of the company's stock worth $26,000 after acquiring an additional 250 shares during the period. Amalgamated Bank grew its stake in shares of Loar by 13.1% in the first quarter. Amalgamated Bank now owns 2,261 shares of the company's stock worth $160,000 after acquiring an additional 261 shares during the period. Finally, MetLife Investment Management LLC grew its stake in shares of Loar by 16.1% in the first quarter. MetLife Investment Management LLC now owns 2,014 shares of the company's stock worth $142,000 after acquiring an additional 279 shares during the period.

Loar Stock Performance

LOAR traded up $0.89 during trading on Tuesday, hitting $71.55. The company's stock had a trading volume of 641,164 shares, compared to its average volume of 839,527. The company has a quick ratio of 4.01, a current ratio of 6.15 and a debt-to-equity ratio of 0.25. Loar Holdings Inc. has a one year low of $62.10 and a one year high of $99.67. The firm has a market cap of $6.70 billion, a PE ratio of 155.55 and a beta of 0.10. The business's 50 day simple moving average is $75.19 and its 200-day simple moving average is $78.37.

Loar (NYSE:LOAR - Get Free Report) last issued its quarterly earnings results on Wednesday, August 13th. The company reported $0.23 earnings per share for the quarter, beating the consensus estimate 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 the consensus estimate of $122.17 million. During the same quarter in the previous year, the firm earned $0.13 earnings per share. The company's revenue for the quarter was up 26.8% on a year-over-year basis. Loar has set its FY 2025 guidance at 0.830-0.88 EPS. As a group, sell-side analysts predict that Loar Holdings Inc. will post 0.28 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

LOAR has been the subject of a number of research analyst reports. Wall Street Zen upgraded shares of Loar from a "hold" rating to a "buy" rating in a research note on Saturday, August 16th. Morgan Stanley initiated coverage on shares of Loar in a research note on Friday, May 23rd. They issued an "overweight" rating and a $100.00 price target for the company. Finally, Citigroup lifted their price target on shares of Loar from $91.00 to $99.00 and gave the stock a "buy" rating in a research note on Thursday, May 15th. Three equities research analysts have rated the stock with a Buy rating, According to MarketBeat, the company currently has a consensus rating of "Buy" and an average target price of $97.00.

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.