The filing detailed various sales by Blackstone-related entities, with the largest transaction involving 297,024 shares. Following these sales, the entities continue to hold substantial positions in Loar Holdings, reflecting their ongoing investment in the company, which maintains strong financial health with a current ratio of 3.95 and impressive gross margins of 49.42%. The sales were conducted as part of a secondary offering, as noted in the filing. For deeper insights into LOAR's valuation metrics and 14+ additional ProTips, visit InvestingPro. The transactions, which took place on December 12, amounted to approximately $27.2 million.
The filing detailed various sales by Blackstone-related entities, with the largest transaction involving 297,024 shares. Following these sales, the entities continue to hold substantial positions in Loar Holdings, reflecting their ongoing investment in the company, which maintains strong financial health with a current ratio of 3.95 and impressive gross margins of 49.42%. The sales were conducted as part of a secondary offering, as noted in the filing. For deeper insights into LOAR's valuation metrics and 14+ additional ProTips, visit InvestingPro.
In other recent news, Loar Holdings Inc. reported strong earnings and revenue results, with a 17% increase in organic growth, an adjusted EBITDA of $35 million, and total sales reaching $97 million. The company has also successfully completed an equity offering, generating approximately $310 million in net proceeds. RBC Capital maintained its Outperform rating for Loar Holdings, updating its estimates to reflect the increased number of shares and expected reduction in debt.
Loar Holdings also finalized the strategic acquisition of Applied Avionics for $385 million, a move expected to increase annual revenues by approximately $40 million and adjusted EBITDA by around $20 million. This acquisition is seen as a significant step in strengthening the company's market position.
Analyst firms, including Jefferies, Citi, and Morgan Stanley (NYSE:MS), initiated coverage on Loar Holdings, expressing confidence in the company's potential for significant free cash flow in the coming years. RBC Capital Markets adjusted its outlook on Loar Holdings, increasing the price target to $100 from the previous $80, while retaining an Outperform rating on the stock.
These are recent developments in Loar Holdings' growth trajectory and financial strategy. As always, these projections are based on analyst expectations, and actual results may vary.
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