Moore Capital Management LP Buys New Position in Loar Holdings, LLC (NYSE:LOAR)

Moore Capital Management LP purchased a new stake in Loar Holdings, LLC (NYSE:LOAR) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 22,292 shares of the company’s stock, valued at approximately $1,648,000.

Several other large investors have also added to or reduced their stakes in the stock. LMR Partners LLP bought a new stake in shares of Loar during the 4th quarter valued at about $5,174,000. Lighthouse Investment Partners LLC bought a new position in Loar in the fourth quarter worth about $317,000. Gen Wealth Partners Inc bought a new stake in Loar during the 4th quarter valued at approximately $62,000. Fortress Investment Group LLC bought a new stake in Loar during the 4th quarter valued at approximately $739,000. Finally, Ethic Inc. bought a new stake in Loar during the 4th quarter valued at approximately $424,000.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the company. Royal Bank of Canada reiterated an “outperform” rating and issued a $92.00 price objective on shares of Loar in a report on Tuesday, April 1st. Morgan Stanley upgraded shares of Loar from an “equal weight” rating to an “overweight” rating and set a $91.00 price target for the company in a research note on Thursday, April 3rd.

Loar Price Performance

NYSE LOAR opened at $99.43 on Tuesday. The company has a market capitalization of $9.30 billion and a price-to-earnings ratio of 414.31. The stock has a 50-day moving average of $79.69 and a 200 day moving average of $79.51. Loar Holdings, LLC has a one year low of $45.49 and a one year high of $99.67. The company has a debt-to-equity ratio of 0.78, a quick ratio of 2.28 and a current ratio of 3.95.

Loar (NYSE:LOAR) last issued its quarterly earnings data on Monday, March 31st. The company reported $0.11 EPS for the quarter, hitting the consensus estimate of $0.11. The firm had revenue of $110.40 million during the quarter, compared to the consensus estimate of $102.51 million. The firm’s quarterly revenue was up 27.8% compared to the same quarter last year. On average, sell-side analysts forecast that Loar Holdings, LLC will post 0.28 EPS for the current 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.