Loar Holdings Inc. $LOAR Shares Sold by Next Century Growth Investors LLC

Key Points

• Next Century Growth Investors LLC sold 8,466 shares of Loar Holdings Inc., reducing its holdings by 6.8%, and now owns 115,359 shares valued at approximately $8.15 million.
• Several institutional investors have increased their stakes in Loar, with Wells Fargo growing its position by 179.9%, now owning 6,536 shares worth $483,000.
• Analysts have upgraded Loar’s stock from a "hold" to a "buy" rating, with a consensus target price of $97.00, reflecting positive investor sentiment.

Next Century Growth Investors LLC decreased its stake in Loar Holdings Inc. (NYSE:LOAR - Free Report) by 6.8% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 115,359 shares of the company's stock after selling 8,466 shares during the period. Next Century Growth Investors LLC owned 0.12% of Loar worth $8,150,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in the stock. MetLife Investment Management LLC lifted 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 worth $142,000 after purchasing an additional 279 shares during the last quarter. Jump Financial LLC bought a new stake in shares of Loar in the 1st quarter worth approximately $219,000. T. Rowe Price Investment Management Inc. lifted its holdings in shares of Loar by 232.6% in the 1st quarter. T. Rowe Price Investment Management Inc. now owns 1,601,485 shares of the company's stock worth $113,145,000 after purchasing an additional 1,119,958 shares during the last quarter. Caitong International Asset Management Co. Ltd increased its position in 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 period. Finally, Nuveen LLC acquired a new stake in Loar in the 1st quarter valued at approximately $6,300,000.

Loar Price Performance

Shares of LOAR stock traded down $0.81 during mid-day trading on Tuesday, hitting $69.85. 198,423 shares of the stock traded hands, compared to its average volume of 836,776. Loar Holdings Inc. has a twelve month low of $62.10 and a twelve month high of $99.67. The firm has a market cap of $6.54 billion, a price-to-earnings ratio of 152.18 and a beta of 0.10. The company's 50-day simple moving average is $75.19 and its 200-day simple moving average is $78.37. 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 issued its 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. The business had revenue of $123.12 million for the quarter, compared to analysts' expectations of $122.17 million. Loar had a return on equity of 5.50% and a net margin of 9.82%.The company's quarterly revenue was up 26.8% on a year-over-year basis. During the same period in the previous year, the firm posted $0.13 EPS. Loar has set its FY 2025 guidance at 0.830-0.88 EPS. As a group, equities research analysts expect that Loar Holdings Inc. will post 0.28 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the company. Wall Street Zen upgraded Loar from a "hold" rating to a "buy" rating in a research report on Saturday, August 16th. Citigroup raised their target price on Loar from $91.00 to $99.00 and gave the company a "buy" rating in a research report on Thursday, May 15th. Finally, Morgan Stanley assumed coverage on Loar in a research report on Friday, May 23rd. They issued an "overweight" rating and a $100.00 target price on the stock. Three investment analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the company has an average 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.