Next Century Growth Investors LLC Sells 8,466 Shares of Loar Holdings Inc. $LOAR

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

Several other institutional investors also recently modified their holdings of LOAR. Wells Fargo & Company MN grew its stake in shares of Loar by 179.9% in the fourth quarter. Wells Fargo & Company MN now owns 6,536 shares of the company's stock worth $483,000 after purchasing an additional 4,201 shares during the last quarter. Envestnet Asset Management Inc. grew its stake in shares of Loar by 16.5% in the fourth quarter. Envestnet Asset Management Inc. now owns 17,559 shares of the company's stock worth $1,298,000 after purchasing an additional 2,484 shares during the last quarter. Legal & General Group Plc grew its stake in shares of Loar by 194.0% in the fourth quarter. Legal & General Group Plc now owns 3,084 shares of the company's stock worth $228,000 after purchasing an additional 2,035 shares during the last quarter. Barclays PLC lifted its holdings in Loar by 12.1% in the fourth quarter. Barclays PLC now owns 3,298 shares of the company's stock valued at $243,000 after buying an additional 355 shares during the period. Finally, First Trust Advisors LP acquired a new position in Loar in the fourth quarter valued at $4,488,000.

Analyst Upgrades and Downgrades

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

Loar Trading Up 1.4%

LOAR opened at $73.46 on Thursday. Loar Holdings Inc. has a 1-year low of $62.10 and a 1-year high of $99.67. The company has a current ratio of 6.15, a quick ratio of 4.01 and a debt-to-equity ratio of 0.25. The company has a market cap of $6.88 billion, a P/E ratio of 159.69 and a beta of 0.11. The company has a fifty day moving average price of $75.83 and a two-hundred day moving average price of $78.33.

Loar (NYSE:LOAR - Get Free Report) last posted 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 firm had revenue of $123.12 million during the quarter, compared to the consensus estimate of $122.17 million. During the same period in the previous year, the firm posted $0.13 earnings per share. The business's 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. Analysts predict that Loar Holdings Inc. will post 0.28 EPS for the current fiscal year.

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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