Victory Capital Management Inc. Acquires New Stake in Loar Holdings, LLC (NYSE:LOAR)

Victory Capital Management Inc. acquired a new stake in shares of Loar Holdings, LLC (NYSE:LOAR) in the second quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 8,792 shares of the company’s stock, valued at approximately $470,000.

A number of other large investors also recently bought and sold shares of LOAR. Renaissance Capital LLC purchased a new position in Loar during the 2nd quarter valued at $497,000. TCW Group Inc. bought a new stake in Loar during the 2nd quarter valued at $7,366,000. Zweig DiMenna Associates LLC bought a new stake in Loar during the 2nd quarter valued at $9,208,000. Calamos Advisors LLC bought a new stake in Loar during the 2nd quarter valued at $492,000. Finally, Bank of New York Mellon Corp bought a new stake in Loar during the 2nd quarter valued at $439,000.

Loar Price Performance

LOAR opened at $74.46 on Monday. The company has a debt-to-equity ratio of 0.33, a current ratio of 4.86 and a quick ratio of 3.09. Loar Holdings, LLC has a 12 month low of $42.57 and a 12 month high of $80.79. The stock has a fifty day moving average of $67.67.

Loar (NYSE:LOAR) last released its quarterly earnings results on Tuesday, August 13th. The company reported $0.13 EPS for the quarter, topping the consensus estimate of $0.10 by $0.03. The company had revenue of $97.10 million during the quarter, compared to the consensus estimate of $91.70 million. Loar’s revenue for the quarter was up 31.2% on a year-over-year basis. Analysts expect that Loar Holdings, LLC will post 0.44 earnings per share for the current year.

Analyst Upgrades and Downgrades

LOAR has been the subject of a number of research analyst reports. Jefferies Financial Group initiated coverage on Loar in a research report on Monday, June 3rd. They set a “buy” rating and a $65.00 target price for the company. Citigroup lifted their target price on Loar from $64.00 to $88.00 and gave the company a “buy” rating in a research report on Tuesday, August 20th. Morgan Stanley lifted their target price on Loar from $55.00 to $70.00 and gave the company an “equal weight” rating in a research report on Wednesday, August 14th. Finally, Royal Bank of Canada lifted their target price on Loar from $65.00 to $80.00 and gave the company an “outperform” rating in a research report on Wednesday, August 14th.

Loar Profile

Loar Holdings Inc is a diversified manufacturer and supplier of niche aerospace and defense components for aircraft and aerospace and defense systems. Loar Holdings Inc is based in WHITE PLAINS, NY.