Oppenheimer Asset Management Inc. Makes New $230,000 Investment in Loar Holdings, LLC (NYSE:LOAR)

Oppenheimer Asset Management Inc. bought a new stake in Loar Holdings, LLC (NYSE:LOAR) during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 3,084 shares of the company’s stock, valued at approximately $230,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Abrams Capital Management L.P. acquired a new stake in shares of Loar during the second quarter worth about $2,052,780,000. Federated Hermes Inc. acquired a new stake in Loar during the 2nd quarter valued at approximately $38,952,000. TimesSquare Capital Management LLC boosted its holdings in shares of Loar by 57.3% in the 3rd quarter. TimesSquare Capital Management LLC now owns 410,509 shares of the company’s stock valued at $30,620,000 after acquiring an additional 149,460 shares during the last quarter. Fred Alger Management LLC acquired a new stake in shares of Loar in the second quarter worth $13,085,000. Finally, Zweig DiMenna Associates LLC purchased a new position in shares of Loar during the second quarter worth $9,208,000.

Loar Stock Performance

Shares of Loar stock opened at $88.06 on Thursday. The business has a 50-day moving average price of $79.36 and a 200 day moving average price of $66.87. The company has a debt-to-equity ratio of 0.78, a quick ratio of 2.28 and a current ratio of 3.95. Loar Holdings, LLC has a twelve month low of $42.57 and a twelve month high of $95.35.

Loar (NYSE:LOAR) last released its quarterly earnings results on Wednesday, November 13th. The company reported $0.15 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.13 by $0.02. The company had revenue of $103.52 million during the quarter, compared to analyst estimates of $97.30 million. Loar’s quarterly revenue was up 25.0% on a year-over-year basis. On average, analysts predict that Loar Holdings, LLC will post 0.37 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on LOAR shares. Morgan Stanley increased their price target on Loar from $75.00 to $89.00 and gave the stock an “equal weight” rating in a research report on Monday. Royal Bank of Canada reiterated an “outperform” rating and set a $100.00 price target on shares of Loar in a research report on Thursday, November 14th. Finally, Citigroup upped their price objective on Loar from $64.00 to $88.00 and gave the stock a “buy” rating in a research report on Tuesday, August 20th.

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.