Empirical Financial Services LLC d.b.a. Empirical Wealth Management Takes $2.90 Million Position in Loar Holdings Inc. $LOAR

Empirical Financial Services LLC d.b.a. Empirical Wealth Management bought a new stake in Loar Holdings Inc. (NYSE:LOAR) in the second quarter, Holdings Channel.com reports. The firm bought 33,703 shares of the company’s stock, valued at approximately $2,904,000.

A number of other hedge funds have also modified their holdings of LOAR. Truist Financial Corp acquired a new stake in Loar during the second quarter worth about $226,000. Public Employees Retirement System of Ohio increased its position in Loar by 24.1% during the second quarter. Public Employees Retirement System of Ohio now owns 50,506 shares of the company’s stock worth $4,352,000 after purchasing an additional 9,794 shares during the last quarter. Thrive Wealth Management LLC acquired a new stake in Loar during the second quarter worth about $3,523,000. Bourne Lent Asset Management Inc. acquired a new stake in Loar during the second quarter worth about $224,000. Finally, Burkett Financial Services LLC acquired a new stake in Loar during the second quarter worth about $10,771,000.

Loar Trading Down 1.4%

Shares of LOAR stock opened at $78.83 on Friday. The company has a debt-to-equity ratio of 0.25, a current ratio of 6.15 and a quick ratio of 4.01. The firm has a market cap of $7.38 billion, a PE ratio of 171.37 and a beta of 0.21. The company has a 50-day moving average of $74.51 and a two-hundred day moving average of $79.92. Loar Holdings Inc. has a 1-year low of $62.10 and a 1-year high of $99.67.

Loar (NYSE:LOAR) last announced its earnings results on Wednesday, August 13th. The company reported $0.23 earnings per share for the quarter, topping the consensus estimate of $0.19 by $0.04. The company had revenue of $123.12 million during the quarter, compared to analyst estimates of $122.17 million. Loar had a net margin of 9.82% and a return on equity of 5.50%. Loar’s revenue was up 26.8% compared to the same quarter last year. During the same quarter last year, the firm posted $0.13 earnings per share. Loar has set its FY 2025 guidance at 0.830-0.88 EPS. On average, analysts predict that Loar Holdings Inc. will post 0.28 EPS for the current year.

Analysts Set New Price Targets

LOAR has been the subject of several recent analyst reports. Wall Street Zen upgraded shares of Loar from a “hold” rating to a “buy” rating in a research report on Saturday, August 16th. Weiss Ratings restated a “hold (c-)” rating on shares of Loar in a research report on Saturday, September 27th. Three research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $97.00.

Loar Company 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.