TimesSquare Capital Management LLC Cuts Stock Position in Loar Holdings Inc. $LOAR

TimesSquare Capital Management LLC decreased its holdings in shares of Loar Holdings Inc. (NYSE:LOAR) by 21.8% during the 2nd quarter, HoldingsChannel.com reports. The fund owned 776,729 shares of the company’s stock after selling 216,774 shares during the period. TimesSquare Capital Management LLC’s holdings in Loar were worth $66,931,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in LOAR. Vanguard Group Inc. raised its position in Loar by 0.5% in the first quarter. Vanguard Group Inc. now owns 2,735,157 shares of the company’s stock valued at $193,239,000 after purchasing an additional 13,832 shares during the period. T. Rowe Price Investment Management Inc. boosted its position in shares of Loar by 232.6% in the first quarter. T. Rowe Price Investment Management Inc. now owns 1,601,485 shares of the company’s stock worth $113,145,000 after buying an additional 1,119,958 shares during the period. Invesco Ltd. grew its stake in shares of Loar by 38.5% in the first quarter. Invesco Ltd. now owns 1,179,384 shares of the company’s stock valued at $83,323,000 after buying an additional 327,888 shares in the last quarter. Federated Hermes Inc. raised its holdings in shares of Loar by 13.8% during the 1st quarter. Federated Hermes Inc. now owns 1,136,653 shares of the company’s stock valued at $80,305,000 after buying an additional 137,920 shares during the period. Finally, Alliancebernstein L.P. raised its holdings in shares of Loar by 30.9% during the 1st quarter. Alliancebernstein L.P. now owns 767,863 shares of the company’s stock valued at $54,250,000 after buying an additional 181,225 shares during the period.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on LOAR shares. Wall Street Zen upgraded shares of Loar from a “hold” rating to a “buy” rating in a research note on Saturday, August 16th. Zacks Research upgraded Loar from a “hold” rating to a “strong-buy” rating in a research note on Thursday, October 16th. Finally, Weiss Ratings reiterated a “hold (c-)” rating on shares of Loar in a research note on Wednesday, October 8th. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus target price of $97.00.

Loar Trading Down 5.1%

NYSE LOAR opened at $73.18 on Wednesday. The company has a market capitalization of $6.85 billion, a price-to-earnings ratio of 159.09 and a beta of 0.19. The company has a debt-to-equity ratio of 0.25, a current ratio of 6.15 and a quick ratio of 4.01. Loar Holdings Inc. has a 12 month low of $62.10 and a 12 month high of $99.67. The company’s fifty day moving average price is $78.59 and its two-hundred day moving average price is $80.14.

Loar (NYSE:LOAR) last issued its quarterly earnings results on Wednesday, August 13th. The company reported $0.23 EPS for the quarter, topping the consensus estimate of $0.19 by $0.04. The business had revenue of $123.12 million for the quarter, compared to analysts’ expectations of $122.17 million. Loar had a net margin of 9.82% and a return on equity of 5.50%. The company’s quarterly revenue was up 26.8% compared to the same quarter last year. During the same quarter last year, the company posted $0.13 earnings per share. As a group, research analysts predict that Loar Holdings Inc. will post 0.28 earnings per share 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.