Wasatch Advisors LP Buys New Position in Loar Holdings, LLC (NYSE:LOAR)

Wasatch Advisors LP acquired a new position in Loar Holdings, LLC (NYSE:LOAR - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 545,889 shares of the company's stock, valued at approximately $40,347,000. Wasatch Advisors LP owned about 0.61% of Loar at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of LOAR. Sterling Capital Management LLC boosted its holdings in shares of Loar by 141.5% in the 4th quarter. Sterling Capital Management LLC now owns 500 shares of the company's stock worth $37,000 after buying an additional 293 shares during the last quarter. Corebridge Financial Inc. boosted its stake in Loar by 174.3% in the fourth quarter. Corebridge Financial Inc. now owns 524 shares of the company's stock valued at $39,000 after acquiring an additional 333 shares during the last quarter. Barclays PLC grew its position in shares of Loar by 12.1% during the 4th quarter. Barclays PLC now owns 3,298 shares of the company's stock valued at $243,000 after acquiring an additional 355 shares during the period. Arcadia Investment Management Corp MI purchased a new stake in shares of Loar during the 4th quarter worth approximately $61,000. Finally, Picton Mahoney Asset Management raised its stake in shares of Loar by 5.6% in the fourth quarter. Picton Mahoney Asset Management now owns 19,300 shares of the company's stock valued at $1,426,000 after buying an additional 1,030 shares during the period.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the company. Royal Bank of Canada restated an "outperform" rating and issued a $92.00 price objective on shares of Loar in a research note on Tuesday, April 1st. Morgan Stanley raised shares of Loar from an "equal weight" rating to an "overweight" rating and set a $91.00 price objective for the company in a report on Thursday, April 3rd.

Loar Price Performance

Shares of LOAR traded down $0.02 during midday trading on Tuesday, hitting $81.68. 84,122 shares of the company traded hands, compared to its average volume of 424,332. The stock has a 50-day moving average of $72.16 and a 200-day moving average of $77.75. The company has a debt-to-equity ratio of 0.78, a current ratio of 3.95 and a quick ratio of 2.28. Loar Holdings, LLC has a one year low of $42.57 and a one year high of $96.99. The firm has a market cap of $7.64 billion and a P/E ratio of 340.16.

Loar (NYSE:LOAR - Get Free Report) last posted its earnings results on Monday, March 31st. The company reported $0.11 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.11. The firm had revenue of $110.40 million during the quarter, compared to analysts' expectations of $102.51 million. The company's revenue was up 27.8% on a year-over-year basis. As a group, sell-side analysts predict that Loar Holdings, LLC will post 0.28 EPS for the current fiscal year.

About Loar

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.