Renaissance Capital LLC Grows Position in Loar Holdings, LLC (NYSE:LOAR)

Renaissance Capital LLC lifted its position in shares of Loar Holdings, LLC (NYSE:LOAR) by 22.4% in the third quarter, according to its most recent 13F filing with the SEC. The firm owned 11,392 shares of the company’s stock after purchasing an additional 2,083 shares during the quarter. Loar comprises approximately 0.6% of Renaissance Capital LLC’s holdings, making the stock its 29th largest holding. Renaissance Capital LLC’s holdings in Loar were worth $850,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Arcadia Investment Management Corp MI acquired a new stake in shares of Loar in the second quarter worth $26,000. Amalgamated Bank acquired a new stake in Loar in the 2nd quarter valued at $37,000. Linonia Partnership LP purchased a new position in Loar in the second quarter valued at about $53,000. RiverPark Advisors LLC acquired a new position in shares of Loar during the second quarter worth about $155,000. Finally, Quent Capital LLC purchased a new stake in shares of Loar in the third quarter worth about $236,000.

Wall Street Analyst Weigh In

Several brokerages recently commented on LOAR. Morgan Stanley raised their target price on Loar from $55.00 to $70.00 and gave the company an “equal weight” rating in a report on Wednesday, August 14th. Citigroup lifted their price target on shares of Loar from $64.00 to $88.00 and gave the stock a “buy” rating in a research note on Tuesday, August 20th. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $80.00 price objective on shares of Loar in a research note on Monday, October 7th.

Loar Trading Down 3.7 %

Shares of LOAR opened at $74.22 on Wednesday. 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 Holdings, LLC has a 52 week low of $42.57 and a 52 week high of $80.79. The business has a 50 day moving average price of $72.62.

Loar (NYSE:LOAR) last issued its 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. Loar’s revenue for the quarter was up 31.2% compared to the same quarter last year. Analysts expect that Loar Holdings, LLC will post 0.37 earnings per share 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.