TimesSquare Capital Management LLC Purchases 130,364 Shares of Loar Holdings Inc. $LOAR

TimesSquare Capital Management LLC boosted its holdings in Loar Holdings Inc. (NYSE:LOAR) by 16.8% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 907,093 shares of the company’s stock after purchasing an additional 130,364 shares during the quarter. TimesSquare Capital Management LLC’s holdings in Loar were worth $72,567,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in the business. Oppenheimer Asset Management Inc. lifted its holdings in shares of Loar by 39.4% in the third quarter. Oppenheimer Asset Management Inc. now owns 47,858 shares of the company’s stock valued at $3,829,000 after purchasing an additional 13,532 shares in the last quarter. Bessemer Group Inc. boosted its holdings in Loar by 1,172.0% during the third quarter. Bessemer Group Inc. now owns 1,590 shares of the company’s stock worth $128,000 after purchasing an additional 1,465 shares during the last quarter. Envestnet Asset Management Inc. lifted its holdings in Loar by 41.3% during the third quarter. Envestnet Asset Management Inc. now owns 29,762 shares of the company’s stock worth $2,381,000 after acquiring an additional 8,699 shares during the period. Arizona State Retirement System raised its position in shares of Loar by 1.4% in the third quarter. Arizona State Retirement System now owns 9,689 shares of the company’s stock valued at $775,000 after purchasing an additional 134 shares during the period. Finally, New York State Common Retirement Fund grew its holdings in Loar by 69.1% during the 3rd quarter. New York State Common Retirement Fund now owns 179,046 shares of the company’s stock valued at $14,324,000 after buying an additional 73,189 shares in the last quarter.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the company. The Goldman Sachs Group initiated coverage on Loar in a research note on Tuesday, November 25th. They issued a “buy” rating and a $91.00 target price on the stock. Wall Street Zen upgraded shares of Loar from a “hold” rating to a “buy” rating in a report on Saturday. Morgan Stanley lowered their price target on shares of Loar from $100.00 to $97.00 and set an “overweight” rating for the company in a report on Thursday, November 13th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Loar in a research report on Monday, December 29th. Finally, Citigroup cut their price objective on Loar from $87.00 to $81.00 and set a “buy” rating on the stock in a research report on Thursday, February 5th. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Buy” and a consensus target price of $90.25.

Loar Stock Up 0.3%

LOAR stock opened at $64.50 on Friday. The business has a 50 day moving average of $69.40 and a 200 day moving average of $72.63. The firm has a market cap of $6.04 billion, a PE ratio of 97.73 and a beta of 0.37. Loar Holdings Inc. has a twelve month low of $62.10 and a twelve month high of $99.67. 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 posted its earnings results on Wednesday, November 12th. The company reported $0.35 EPS for the quarter, topping analysts’ consensus estimates of $0.22 by $0.13. Loar had a return on equity of 6.45% and a net margin of 13.33%.The business had revenue of $126.75 million during the quarter, compared to analyst estimates of $126.80 million. During the same quarter last year, the company earned $0.15 EPS. The company’s quarterly revenue was up 22.5% compared to the same quarter last year. On average, research analysts forecast that Loar Holdings Inc. will post 0.28 EPS for the current fiscal year.

About Loar

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.