TimesSquare Capital Management LLC Has $30.62 Million Holdings in Loar Holdings, LLC (NYSE:LOAR)

TimesSquare Capital Management LLC boosted its holdings in shares of Loar Holdings, LLC (NYSE:LOAR - Free Report) by 57.3% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 410,509 shares of the company's stock after purchasing an additional 149,460 shares during the period. TimesSquare Capital Management LLC owned about 0.46% of Loar worth $30,620,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Abrams Capital Management L.P. bought a new position in shares of Loar in the second quarter worth about $2,052,780,000. Federated Hermes Inc. acquired a new stake in shares of Loar during the 2nd quarter worth approximately $38,952,000. Fred Alger Management LLC acquired a new position in Loar in the second quarter valued at approximately $13,085,000. Zweig DiMenna Associates LLC bought a new position in Loar in the second quarter valued at approximately $9,208,000. Finally, TCW Group Inc. acquired a new stake in Loar during the 2nd quarter worth $7,366,000.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on LOAR. Royal Bank of Canada reaffirmed an "outperform" rating and issued a $80.00 price target on shares of Loar in a research note on Monday, October 7th. Citigroup boosted their target price on Loar from $64.00 to $88.00 and gave the company a "buy" rating in a research note on Tuesday, August 20th. Finally, Morgan Stanley lifted their price objective on Loar from $70.00 to $75.00 and gave the company an "equal weight" rating in a report on Friday, October 18th.

Loar Trading Up 4.9 %

NYSE:LOAR traded up $4.18 on Friday, hitting $88.86. 230,985 shares of the company's stock were exchanged, compared to its average volume of 295,032. The firm has a 50-day moving average price of $77.53 and a 200-day moving average price of $65.25. Loar Holdings, LLC has a 52 week low of $42.57 and a 52 week high of $92.17. The company has a current ratio of 4.86, a quick ratio of 3.09 and a debt-to-equity ratio of 0.33.

Loar (NYSE:LOAR - Get Free Report) last issued its quarterly earnings results on Tuesday, August 13th. The company reported $0.13 EPS for the quarter, beating the consensus estimate of $0.10 by $0.03. The company had revenue of $97.10 million for the quarter, compared to analyst estimates of $91.70 million. Loar's revenue was up 31.2% compared to the same quarter last year. Equities research analysts anticipate that Loar Holdings, LLC will post 0.37 EPS 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.