Arcadia Investment Management Corp MI Purchases New Position in Loar Holdings, LLC (NYSE:LOAR)

Arcadia Investment Management Corp MI acquired a new stake in Loar Holdings, LLC (NYSE:LOAR) in the 2nd quarter, HoldingsChannel.com reports. The fund acquired 480 shares of the company’s stock, valued at approximately $26,000.

A number of other hedge funds have also recently added to or reduced their stakes in LOAR. Renaissance Capital LLC bought a new position in Loar in the second quarter valued at about $497,000. TCW Group Inc. bought a new position in Loar in the 2nd quarter valued at approximately $7,366,000. Zweig DiMenna Associates LLC acquired a new stake in Loar during the 2nd quarter worth approximately $9,208,000. Calamos Advisors LLC bought a new stake in Loar during the 2nd quarter worth approximately $492,000. Finally, Bank of New York Mellon Corp acquired a new position in Loar in the 2nd quarter valued at approximately $439,000.

Analyst Ratings Changes

A number of equities analysts have recently commented on the stock. Royal Bank of Canada lifted their price target on shares of Loar from $65.00 to $80.00 and gave the stock an “outperform” rating in a report on Wednesday, August 14th. Citigroup lifted their target price on Loar from $64.00 to $88.00 and gave the stock a “buy” rating in a report on Tuesday, August 20th. Jefferies Financial Group began 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, Morgan Stanley raised their price objective on Loar from $55.00 to $70.00 and gave the stock an “equal weight” rating in a research report on Wednesday, August 14th.

Loar Trading Down 5.0 %

Shares of LOAR traded down $3.60 during trading hours on Friday, hitting $68.32. 19,035 shares of the stock were exchanged, compared to its average volume of 293,006. Loar Holdings, LLC has a fifty-two week low of $42.57 and a fifty-two week high of $76.94. The business’s 50-day simple moving average is $63.14. The company has a quick ratio of 3.09, a current ratio of 4.86 and a debt-to-equity ratio of 0.33.

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

Loar Company Profile

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.