Loar Holdings, LLC’s Lock-Up Period Will Expire on October 22nd (NYSE:LOAR)

Loar’s (NYSE:LOAR) lock-up period is set to expire on Tuesday, October 22nd. Loar had issued 11,000,000 shares in its public offering on April 25th. The total size of the offering was $308,000,000 based on an initial share price of $28.00. Shares of the company owned by major shareholders and company insiders will be eligible for trade following the end of the lock-up period.

Wall Street Analyst Weigh In

Several analysts have recently commented on LOAR shares. Royal Bank of Canada reaffirmed an “outperform” rating and set a $80.00 price target on shares of Loar in a research report on Monday, October 7th. Morgan Stanley upped their price target on Loar from $70.00 to $75.00 and gave the stock an “equal weight” rating in a research note on Friday. Finally, Citigroup upped their price target on Loar from $64.00 to $88.00 and gave the stock a “buy” rating in a research note on Tuesday, August 20th.

Loar Stock Performance

NYSE:LOAR opened at $78.49 on Friday. The company has a current ratio of 4.86, a quick ratio of 3.09 and a debt-to-equity ratio of 0.33. The company’s fifty day simple moving average is $73.69. Loar has a twelve month low of $42.57 and a twelve month high of $80.79.

Loar (NYSE:LOAR) last issued its quarterly earnings data on Tuesday, August 13th. The company reported $0.13 EPS for the quarter, topping analysts’ consensus estimates of $0.10 by $0.03. The firm had revenue of $97.10 million during the quarter, compared to analyst estimates of $91.70 million. The company’s quarterly revenue was up 31.2% on a year-over-year basis. Sell-side analysts anticipate that Loar will post 0.37 earnings per share for the current year.

Institutional Investors Weigh In On Loar

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

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.