Mitchell Capital Management Co. Purchases Shares of 55,369 Loar Holdings Inc. $LOAR

Key Points

• Mitchell Capital Management Co. purchased 55,369 shares of Loar Holdings Inc., valued at approximately $4.77 million, during the second quarter of 2023.
• Loar Holdings reported a quarterly earnings per share (EPS) of $0.23, exceeding analyst estimates and showing a 26.8% increase in revenue compared to the same quarter last year.
• Analysts currently have a "Moderate Buy" average rating for Loar Holdings, with a price target of $97.00 per share.

Mitchell Capital Management Co. purchased a new stake in shares of Loar Holdings Inc. (NYSE:LOAR - Free Report) during the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 55,369 shares of the company's stock, valued at approximately $4,771,000. Mitchell Capital Management Co. owned approximately 0.06% of Loar at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. GAMMA Investing LLC boosted its holdings in shares of Loar by 204.9% in the 1st quarter. GAMMA Investing LLC now owns 372 shares of the company's stock valued at $26,000 after acquiring an additional 250 shares during the last quarter. Caitong International Asset Management Co. Ltd boosted its holdings in shares of Loar by 5,286.7% in the 1st quarter. Caitong International Asset Management Co. Ltd now owns 808 shares of the company's stock valued at $57,000 after acquiring an additional 793 shares during the last quarter. MetLife Investment Management LLC boosted its holdings in shares of Loar by 16.1% in the 1st 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 last quarter. Amalgamated Bank boosted its holdings in shares of Loar by 13.1% in the 1st quarter. Amalgamated Bank now owns 2,261 shares of the company's stock valued at $160,000 after acquiring an additional 261 shares during the last quarter. Finally, Jump Financial LLC purchased a new stake in shares of Loar in the 1st quarter valued at $219,000.

Loar Stock Performance

Shares of NYSE LOAR opened at $79.24 on Monday. The company's fifty day moving average price is $75.15 and its 200 day moving average price is $80.53. Loar Holdings Inc. has a 1 year low of $62.10 and a 1 year high of $99.67. The company has a market capitalization of $7.42 billion, a PE ratio of 172.26 and a beta of 0.21. The company has a debt-to-equity ratio of 0.25, a quick ratio of 4.01 and a current ratio of 6.15.

Loar (NYSE:LOAR - Get Free Report) last announced its quarterly earnings results on Wednesday, August 13th. The company reported $0.23 earnings per share (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 the consensus estimate of $122.17 million. During the same period in the prior year, the firm posted $0.13 earnings per share. The firm's quarterly revenue was up 26.8% compared to the same quarter last year. Loar has set its FY 2025 guidance at 0.830-0.88 EPS. On average, research analysts predict that Loar Holdings Inc. will post 0.28 earnings per share for the current year.

Analyst Ratings Changes

Several research firms have recently commented on LOAR. Wall Street Zen raised shares of Loar from a "hold" rating to a "buy" rating in a report on Saturday, August 16th. Weiss Ratings reaffirmed a "hold (c-)" rating on shares of Loar in a report on Wednesday, October 8th. Three equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target 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.

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