9,742 Shares in Loar Holdings, LLC (NYSE:LOAR) Purchased by Verition Fund Management LLC

Verition Fund Management LLC bought a new stake in Loar Holdings, LLC (NYSE:LOAR) in the third quarter, HoldingsChannel.com reports. The fund bought 9,742 shares of the company’s stock, valued at approximately $727,000.

Other institutional investors also recently made changes to their positions in the company. Arcadia Investment Management Corp MI acquired a new position in Loar during the 2nd quarter valued at approximately $26,000. Amalgamated Bank bought a new stake in Loar in the second quarter valued at $37,000. nVerses Capital LLC acquired a new position in shares of Loar during the third quarter valued at $45,000. Linonia Partnership LP bought a new position in shares of Loar during the second quarter worth about $53,000. Finally, RiverPark Advisors LLC acquired a new stake in shares of Loar in the 2nd quarter worth about $155,000.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on LOAR shares. Citigroup boosted their target price on shares of Loar from $64.00 to $88.00 and gave the company a “buy” rating in a research note on Tuesday, August 20th. Morgan Stanley boosted their price objective on Loar from $75.00 to $89.00 and gave the stock an “equal weight” rating in a research report on Monday, November 18th. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $100.00 target price on shares of Loar in a research report on Thursday, November 14th.

Loar Stock Performance

Loar stock opened at $91.33 on Tuesday. The company’s 50-day moving average price is $83.56 and its two-hundred day moving average price is $70.79. Loar Holdings, LLC has a 52 week low of $42.57 and a 52 week high of $96.99. 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 (NYSE:LOAR) last announced its earnings results on Wednesday, November 13th. The company reported $0.15 EPS for the quarter, topping the consensus estimate of $0.13 by $0.02. The firm had revenue of $103.52 million for the quarter, compared to the consensus estimate of $97.30 million. Loar’s revenue for the quarter was up 25.0% compared to the same quarter last year. As a group, analysts expect that Loar Holdings, LLC will post 0.28 EPS for the current fiscal year.

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.