Oppenheimer Asset Management Inc. Buys 13,532 Shares of Loar Holdings Inc. $LOAR

Oppenheimer Asset Management Inc. increased its stake in Loar Holdings Inc. (NYSE:LOAR) by 39.4% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 47,858 shares of the company’s stock after purchasing an additional 13,532 shares during the quarter. Oppenheimer Asset Management Inc. owned approximately 0.05% of Loar worth $3,829,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. Rakuten Securities Inc. purchased a new stake in Loar in the second quarter worth $27,000. PNC Financial Services Group Inc. grew its stake in shares of Loar by 390.1% during the 2nd quarter. PNC Financial Services Group Inc. now owns 348 shares of the company’s stock worth $30,000 after acquiring an additional 277 shares during the period. Farther Finance Advisors LLC grew its stake in shares of Loar by 8,383.3% during the 3rd quarter. Farther Finance Advisors LLC now owns 509 shares of the company’s stock worth $41,000 after acquiring an additional 503 shares during the period. KBC Group NV purchased a new stake in Loar in the 2nd quarter worth about $82,000. Finally, Tower Research Capital LLC TRC raised its stake in Loar by 347.0% in the 2nd quarter. Tower Research Capital LLC TRC now owns 970 shares of the company’s stock valued at $84,000 after acquiring an additional 753 shares during the period.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the stock. Morgan Stanley cut their target price on shares of Loar from $100.00 to $97.00 and set an “overweight” rating for the company in a research report on Thursday, November 13th. Weiss Ratings reissued a “hold (c)” rating on shares of Loar in a research report on Monday, December 29th. Zacks Research raised shares of Loar from a “hold” rating to a “strong-buy” rating in a report on Thursday, October 16th. The Goldman Sachs Group started coverage on shares of Loar in a research note on Tuesday, November 25th. They issued a “buy” rating and a $91.00 price objective for the company. Finally, Wall Street Zen cut shares of Loar from a “buy” rating to a “hold” rating in a report on Saturday, January 3rd. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and one has given a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of $90.25.

Loar Price Performance

Shares of NYSE LOAR opened at $63.99 on Thursday. The stock’s 50-day simple moving average is $69.52 and its two-hundred day simple moving average is $72.73. Loar Holdings Inc. has a twelve month low of $62.10 and a twelve month high of $99.67. The firm has a market capitalization of $5.99 billion, a P/E ratio of 96.95 and a beta of 0.37. The company has a quick ratio of 3.81, a current ratio of 5.92 and a debt-to-equity ratio of 0.24.

Loar (NYSE:LOAR) last issued its quarterly earnings data on Wednesday, November 12th. The company reported $0.35 EPS for the quarter, topping the consensus estimate of $0.22 by $0.13. The company had revenue of $126.75 million during the quarter, compared to analyst estimates of $126.80 million. Loar had a return on equity of 6.45% and a net margin of 13.33%.Loar’s revenue was up 22.5% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.15 earnings per share. As a group, equities analysts anticipate that Loar Holdings Inc. 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.