Primecap Management Co. CA Purchases New Shares in Loar Holdings, LLC (NYSE:LOAR)

Primecap Management Co. CA bought a new position in shares of Loar Holdings, LLC (NYSE:LOAR) during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 19,400 shares of the company’s stock, valued at approximately $1,036,000.

A number of other institutional investors have also recently modified their holdings of LOAR. Abrams Capital Management L.P. acquired a new position in Loar in the 2nd quarter worth about $2,052,780,000. Federated Hermes Inc. purchased a new position in shares of Loar during the 2nd quarter valued at approximately $38,952,000. Zweig DiMenna Associates LLC acquired a new stake in Loar in the 2nd quarter valued at $9,208,000. TCW Group Inc. purchased a new stake in Loar in the 2nd quarter worth $7,366,000. Finally, Roubaix Capital LLC acquired a new position in Loar during the second quarter worth $3,537,000.

Analyst Ratings Changes

Several research analysts recently weighed in on the stock. Citigroup upped their price target on shares of Loar from $64.00 to $88.00 and gave the stock a “buy” rating in a research report on Tuesday, August 20th. Morgan Stanley raised their price objective on shares of Loar from $55.00 to $70.00 and gave the company an “equal weight” rating in a research note on Wednesday, August 14th. Jefferies Financial Group assumed coverage on Loar in a research report on Monday, June 3rd. They issued a “buy” rating and a $65.00 price target on the stock. Finally, Royal Bank of Canada lifted their price objective on shares of Loar from $65.00 to $80.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 14th.

Loar Stock Performance

NYSE:LOAR opened at $73.65 on Thursday. Loar Holdings, LLC has a twelve month low of $42.57 and a twelve month high of $80.79. The company has a quick ratio of 3.09, a current ratio of 4.86 and a debt-to-equity ratio of 0.33. The company’s 50-day simple moving average is $66.88.

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

About Loar

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.