Spyglass Capital Management LLC Increases Holdings in Loar Holdings Inc. $LOAR

Key Points

• Spyglass Capital Management increased its Loar Holdings position by 4.7% in the second quarter, owning 611,657 shares valued at approximately $49.3 million, or 0.65% of the company.
• Loar reported stronger-than-expected quarterly results, with earnings per share of $0.38 versus the $0.31 consensus estimate and revenue of $171.6 million, up 39.4% year over year.
• Despite the stock trading at $70.51, analysts maintain a “Moderate Buy” consensus rating with an average price target of $88.00; recent targets range from $82 to $88.

Spyglass Capital Management LLC lifted its holdings in Loar Holdings Inc. (NYSE:LOAR - Free Report) by 4.7% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 611,657 shares of the company's stock after acquiring an additional 27,524 shares during the period. Loar accounts for about 2.7% of Spyglass Capital Management LLC's portfolio, making the stock its 22nd biggest holding. Spyglass Capital Management LLC owned approximately 0.65% of Loar worth $49,306,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the business. Grandeur Peak Global Advisors LLC raised its stake in Loar by 28.1% during the 2nd quarter. Grandeur Peak Global Advisors LLC now owns 60,027 shares of the company's stock valued at $4,839,000 after purchasing an additional 13,181 shares during the period. Wellington Management Group LLP grew its holdings in Loar by 14.5% during the 2nd quarter. Wellington Management Group LLP now owns 4,063,339 shares of the company's stock valued at $327,546,000 after buying an additional 514,061 shares in the last quarter. Public Employees Retirement System of Ohio purchased a new stake in Loar during the 2nd quarter valued at approximately $1,012,000. Bank of New York Mellon Corp bought a new stake in shares of Loar during the second quarter valued at approximately $57,024,000. Finally, NewEdge Advisors LLC bought a new stake in shares of Loar during the first quarter valued at approximately $332,000.

Loar Stock Down 1.6%

NYSE LOAR opened at $70.51 on Tuesday. The stock has a 50 day moving average price of $73.69 and a 200-day moving average price of $67.18. Loar Holdings Inc. has a one year low of $53.15 and a one year high of $83.43. The company has a debt-to-equity ratio of 0.79, a quick ratio of 3.24 and a current ratio of 4.91. The company has a market capitalization of $6.61 billion, a P/E ratio of 97.93 and a beta of 0.57.

Loar (NYSE:LOAR - Get Free Report) last announced its quarterly earnings results on Thursday, August 6th. The company reported $0.38 earnings per share for the quarter, topping the consensus estimate of $0.31 by $0.07. Loar had a net margin of 11.60% and a return on equity of 9.37%. The company had revenue of $171.58 million for the quarter, compared to analysts' expectations of $162.80 million. During the same quarter in the previous year, the business posted $0.23 earnings per share. Loar's quarterly revenue was up 39.4% on a year-over-year basis. Loar has set its FY 2026 guidance at 1.320-1.360 EPS. As a group, equities analysts predict that Loar Holdings Inc. will post 1.2 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages recently weighed in on LOAR. Royal Bank Of Canada upped their target price on shares of Loar from $80.00 to $85.00 and gave the stock an "outperform" rating in a research report on Friday, August 7th. Jefferies Financial Group reiterated a "buy" rating and issued a $88.00 price target on shares of Loar in a report on Sunday, August 9th. Morgan Stanley reiterated an "equal weight" rating and issued a $82.00 price target (down from $91.00) on shares of Loar in a research note on Wednesday, July 15th. Zacks Research downgraded shares of Loar from a "strong-buy" rating to a "hold" rating in a report on Wednesday, August 5th. Finally, Weiss Ratings raised Loar from a "hold (c-)" rating to a "hold (c)" rating in a report on Friday, July 10th. Four investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, Loar currently has a consensus rating of "Moderate Buy" and a consensus price target of $88.00.

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.

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