Driehaus Capital Management LLC Raises Stock 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 lifted its stake in Loar Holdings Inc. (NYSE:LOAR - Free Report) by 2.8% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 350,741 shares of the company's stock after buying an additional 9,597 shares during the period. Driehaus Capital Management LLC owned approximately 0.37% of Loar worth $24,780,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Amalgamated Bank increased its holdings 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 buying an additional 261 shares during the period. GAMMA Investing LLC increased its holdings 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 buying an additional 250 shares during the period. Arizona State Retirement System purchased a new position in shares of Loar in the first quarter worth about $378,000. Fortress Investment Group LLC purchased a new position in shares of Loar in the fourth quarter worth about $739,000. Finally, Polar Asset Management Partners Inc. increased its holdings in Loar by 343.9% during the 4th quarter. Polar Asset Management Partners Inc. now owns 18,200 shares of the company's stock valued at $1,345,000 after purchasing an additional 14,100 shares during the period.

Loar Price Performance

Loar stock traded up $0.28 during mid-day trading on Thursday, hitting $73.98. The stock had a trading volume of 791,914 shares, compared to its average volume of 1,092,547. The firm's 50 day moving average is $74.50 and its 200 day moving average is $78.33. Loar Holdings Inc. has a one year low of $62.10 and a one year high of $99.67. The firm has a market capitalization of $6.93 billion, a P/E ratio of 160.82 and a beta of 0.09. The company has a current ratio of 6.15, a quick ratio of 4.01 and a debt-to-equity ratio of 0.25.

Loar (NYSE:LOAR - Get Free Report) last released its quarterly earnings data on Wednesday, August 13th. The company reported $0.23 EPS 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 during the quarter, compared to the consensus estimate of $122.17 million. During the same quarter in the prior year, the firm earned $0.13 EPS. The business'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, sell-side analysts forecast that Loar Holdings Inc. will post 0.28 earnings per share for the current fiscal year.

Analyst Ratings Changes

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

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.