BNP Paribas Financial Markets Buys 10,333 Shares of Loar Holdings, LLC (NYSE:LOAR)

BNP Paribas Financial Markets lifted its stake in Loar Holdings, LLC (NYSE:LOAR - Free Report) by 3,444.3% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 10,633 shares of the company's stock after buying an additional 10,333 shares during the quarter. BNP Paribas Financial Markets' holdings in Loar were worth $793,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of the stock. Arcadia Investment Management Corp MI purchased a new position in shares of Loar in the second quarter valued at $26,000. Amalgamated Bank purchased a new position in shares of Loar in the 2nd quarter worth $37,000. nVerses Capital LLC bought a new stake in shares of Loar in the 3rd quarter worth about $45,000. Linonia Partnership LP bought a new stake in shares of Loar in the 2nd quarter worth about $53,000. Finally, RiverPark Advisors LLC purchased a new stake in shares of Loar during the 2nd quarter valued at about $155,000.

Loar Stock Down 5.8 %

LOAR traded down $4.88 on Thursday, reaching $79.41. 1,283,730 shares of the company traded hands, compared to its average volume of 330,719. The company has a current ratio of 3.95, a quick ratio of 2.28 and a debt-to-equity ratio of 0.78. Loar Holdings, LLC has a one year low of $42.57 and a one year high of $96.99. The firm has a fifty day simple moving average of $84.10 and a two-hundred day simple moving average of $71.11.

Loar (NYSE:LOAR - Get Free Report) last announced its quarterly earnings data on Wednesday, November 13th. The company reported $0.15 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.13 by $0.02. The firm had revenue of $103.52 million during the quarter, compared to the consensus estimate of $97.30 million. Loar's quarterly revenue was up 25.0% compared to the same quarter last year. Sell-side analysts predict that Loar Holdings, LLC will post 0.28 earnings per share for the current year.

Wall Street Analyst Weigh In

LOAR has been the topic of several analyst reports. Morgan Stanley boosted their price objective on Loar from $75.00 to $89.00 and gave the stock an "equal weight" rating in a research note on Monday, November 18th. Royal Bank of Canada restated an "outperform" rating and set a $100.00 price target on shares of Loar in a report on Thursday, November 14th. Finally, Citigroup lifted their price objective 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.

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.