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

Arcadia Investment Management Corp MI acquired a new stake in shares of Loar Holdings, LLC (NYSE:LOAR) in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 480 shares of the company’s stock, valued at approximately $26,000.

Several other large investors have also recently bought and sold shares of the company. Victory Capital Management Inc. bought a new position in shares of Loar during the 2nd quarter valued at about $470,000. TD Asset Management Inc acquired a new stake in shares of Loar during the second quarter worth $545,000. Roubaix Capital LLC bought a new stake in Loar in the 2nd quarter valued at $3,537,000. Rhumbline Advisers acquired a new position in Loar in the 2nd quarter worth $523,000. Finally, Picton Mahoney Asset Management bought a new position in Loar during the 2nd quarter worth about $964,000.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on LOAR shares. Jefferies Financial Group started coverage on Loar in a research note on Monday, June 3rd. They issued a “buy” rating and a $65.00 target price on the stock. Morgan Stanley increased their target price on shares of Loar from $55.00 to $70.00 and gave the stock an “equal weight” rating in a report on Wednesday, August 14th. Citigroup boosted their price target on shares of Loar from $64.00 to $88.00 and gave the stock a “buy” rating in a research report on Tuesday, August 20th. Finally, Royal Bank of Canada lifted their target price on Loar from $65.00 to $80.00 and gave the company an “outperform” rating in a research report on Wednesday, August 14th.

Loar Trading Down 5.0 %

NYSE:LOAR traded down $3.60 during trading hours on Friday, reaching $68.32. 19,035 shares of the company were exchanged, compared to its average volume of 293,006. The firm has a 50 day moving average of $63.14. Loar Holdings, LLC has a 1-year low of $42.57 and a 1-year high of $76.94. The company has a debt-to-equity ratio of 0.33, a current ratio of 4.86 and a quick ratio of 3.09.

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 firm had revenue of $97.10 million for the quarter, compared to the consensus estimate of $91.70 million. The firm’s revenue was up 31.2% on a year-over-year basis. On average, research analysts anticipate that Loar Holdings, LLC will post 0.44 EPS for the current fiscal 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.