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

BNP Paribas Financial Markets grew its holdings in shares of Loar Holdings, LLC (NYSE:LOAR) by 3,444.3% during the third quarter, Holdings Channel.com reports. The institutional investor owned 10,633 shares of the company’s stock after purchasing 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 quarter.

Other large investors also recently modified their holdings of the company. Arcadia Investment Management Corp MI bought a new position in Loar in the second quarter worth approximately $26,000. Amalgamated Bank bought a new stake in Loar during the 2nd quarter valued at $37,000. nVerses Capital LLC bought a new position in shares of Loar in the third quarter valued at $45,000. Linonia Partnership LP acquired a new position in shares of Loar during the second quarter valued at about $53,000. Finally, RiverPark Advisors LLC bought a new stake in shares of Loar during the second quarter worth about $155,000.

Loar Stock Performance

NYSE:LOAR opened at $84.18 on Thursday. Loar Holdings, LLC has a 52 week low of $42.57 and a 52 week high of $96.99. The firm has a 50-day moving average price of $84.10 and a two-hundred day moving average price of $71.11. 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 (NYSE:LOAR) last issued its quarterly earnings results on Wednesday, November 13th. The company reported $0.15 EPS for the quarter, beating analysts’ consensus estimates of $0.13 by $0.02. The business had revenue of $103.52 million for the quarter, compared to analysts’ expectations of $97.30 million. The firm’s revenue for the quarter was up 25.0% compared to the same quarter last year. Analysts forecast that Loar Holdings, LLC will post 0.28 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on LOAR. Citigroup raised their price target on shares of Loar from $64.00 to $88.00 and gave the company a “buy” rating in a research report on Tuesday, August 20th. Morgan Stanley lifted their target price on Loar from $75.00 to $89.00 and gave the company an “equal weight” rating in a research report on Monday, November 18th. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $100.00 price target on shares of Loar in a research report on Thursday, November 14th.

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.