StandardAero (NYSE:SARO) Sees Large Volume Increase – Should You Buy?

StandardAero, Inc. (NYSE:SARO) saw unusually-strong trading volume on Wednesday . Approximately 7,876,887 shares traded hands during mid-day trading, an increase of 400% from the previous session’s volume of 1,573,904 shares.The stock last traded at $28.05 and had previously closed at $29.32.

Analysts Set New Price Targets

A number of research analysts have weighed in on the company. Morgan Stanley reduced their price target on StandardAero from $33.00 to $32.00 and set an “equal weight” rating on the stock in a research note on Friday, March 14th. UBS Group increased their target price on StandardAero from $27.00 to $28.00 and gave the stock a “neutral” rating in a research report on Tuesday, March 11th. Three research analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $34.89.

StandardAero Stock Up 1.3 %

The business’s 50-day moving average price is $27.21.

StandardAero (NYSE:SARO) last posted its earnings results on Monday, March 10th. The company reported ($0.04) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.16 by ($0.20). The company had revenue of $1.41 billion for the quarter, compared to analysts’ expectations of $1.37 billion. StandardAero’s quarterly revenue was up 21.8% on a year-over-year basis. As a group, analysts anticipate that StandardAero, Inc. will post 0.29 earnings per share for the current fiscal year.

Hedge Funds Weigh In On StandardAero

Hedge funds and other institutional investors have recently made changes to their positions in the business. Wellington Management Group LLP acquired a new position in shares of StandardAero during the fourth quarter worth about $183,924,000. Carlyle Group Inc. purchased a new position in StandardAero in the 4th quarter worth approximately $165,294,000. T. Rowe Price Investment Management Inc. acquired a new stake in StandardAero in the fourth quarter valued at approximately $161,324,000. Price T Rowe Associates Inc. MD purchased a new stake in shares of StandardAero during the fourth quarter valued at approximately $155,829,000. Finally, Vanguard Group Inc. acquired a new position in shares of StandardAero during the fourth quarter worth $147,628,000.

About StandardAero

StandardAero, Inc provides aerospace engine aftermarket services for fixed and rotary wing aircraft in the United States, Canada, the United Kingdom, Rest of Europe, Asia, and internationally. It operates in two segments, Engine Services and Component Repair Services. The Engine Services segment provides a suite of aftermarket services, including maintenance, repair and overhaul, on-wing and field service support, asset management, and engineering and related solutions to customers in the commercial aerospace, military and helicopter, and business aviation end markets.