Loar Holdings, LLC’s Lock-Up Period To Expire Tomorrow (NYSE:LOAR)

Loar’s (NYSE:LOAR) lock-up period is set to expire on Tuesday, October 22nd. Loar had issued 11,000,000 shares in its initial public offering on April 25th. The total size of the offering was $308,000,000 based on an initial share price of $28.00. After the expiration of the company’s lock-up period, restrictions preventing major shareholders and company insiders from selling shares in the company will be lifted.

Analysts Set New Price Targets

A number of brokerages have commented on LOAR. Royal Bank of Canada restated an “outperform” rating and set a $80.00 price target on shares of Loar in a research note on Monday, October 7th. Citigroup boosted their target price 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. Finally, Morgan Stanley lifted their price target on Loar from $70.00 to $75.00 and gave the company an “equal weight” rating in a research note on Friday.

Loar Stock Performance

Shares of NYSE LOAR opened at $78.49 on Monday. The company has a debt-to-equity ratio of 0.33, a quick ratio of 3.09 and a current ratio of 4.86. The business has a 50-day simple moving average of $73.69. Loar has a twelve month low of $42.57 and a twelve month high of $80.79.

Loar (NYSE:LOAR) last posted its quarterly earnings data on Tuesday, August 13th. The company reported $0.13 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.10 by $0.03. The company had revenue of $97.10 million for the quarter, compared to the consensus estimate of $91.70 million. The firm’s quarterly revenue was up 31.2% on a year-over-year basis. On average, equities analysts anticipate that Loar will post 0.37 EPS for the current fiscal year.

Hedge Funds Weigh In On Loar

Institutional investors and hedge funds have recently bought and sold shares of the stock. Abrams Capital Management L.P. purchased a new stake in Loar in the second quarter worth $2,052,780,000. Federated Hermes Inc. bought a new stake in Loar during the 2nd quarter valued at approximately $38,952,000. Fred Alger Management LLC purchased a new position in shares of Loar during the 2nd quarter worth approximately $13,085,000. Zweig DiMenna Associates LLC purchased a new position in shares of Loar in the 2nd quarter valued at approximately $9,208,000. Finally, TCW Group Inc. purchased a new stake in Loar in the second quarter worth $7,366,000.

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.