StandardAero (NYSE:SARO) Shares Gap Down – Here’s Why

StandardAero, Inc. (NYSE:SARO)’s share price gapped down prior to trading on Monday . The stock had previously closed at $28.59, but opened at $27.64. StandardAero shares last traded at $28.19, with a volume of 146,100 shares.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on SARO shares. UBS Group upped their target price on shares of StandardAero from $27.00 to $28.00 and gave the stock a “neutral” rating in a report on Tuesday, March 11th. Bank of America decreased their price target on shares of StandardAero from $34.00 to $32.00 and set a “neutral” rating on the stock in a research note on Wednesday, November 27th. Finally, Morgan Stanley decreased their price target on shares of StandardAero from $33.00 to $32.00 and set an “equal weight” rating on the stock in a research note on Friday, March 14th. Three equities 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 stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $34.89.

StandardAero Trading Down 1.4 %

The business has a 50-day moving average price of $26.83.

StandardAero (NYSE:SARO) last posted its quarterly earnings data on Monday, March 10th. The company reported ($0.04) earnings per share 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 the consensus estimate of $1.37 billion. The business’s revenue for the quarter was up 21.8% compared to the same quarter last year. On average, analysts anticipate that StandardAero, Inc. will post 0.29 EPS for the current year.

Institutional Trading of StandardAero

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Wellington Management Group LLP bought a new position in StandardAero in the 4th quarter worth about $183,924,000. Carlyle Group Inc. bought a new position in StandardAero in the 4th quarter worth about $165,294,000. T. Rowe Price Investment Management Inc. bought a new position in StandardAero in the 4th quarter worth about $161,324,000. Price T Rowe Associates Inc. MD bought a new position in StandardAero in the 4th quarter worth about $155,829,000. Finally, Vanguard Group Inc. bought a new position in StandardAero in the 4th quarter worth about $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.