StandardAero (NYSE:SARO) Trading 3.8% Higher – Here’s Why

StandardAero, Inc. (NYSE:SARO)’s stock price traded up 3.8% during trading on Tuesday . The stock traded as high as $29.85 and last traded at $29.84. 758,173 shares changed hands during mid-day trading, a decline of 48% from the average session volume of 1,464,068 shares. The stock had previously closed at $28.74.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on SARO. Bank of America decreased their price objective 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. Morgan Stanley reduced their target price on StandardAero from $33.00 to $32.00 and set an “equal weight” rating on the stock in a report on Friday, March 14th. Finally, UBS Group boosted their price target on StandardAero from $27.00 to $28.00 and gave the stock a “neutral” rating in a report on Tuesday, March 11th. Three investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $34.89.

StandardAero Price Performance

The firm’s fifty day simple moving average is $26.95.

StandardAero (NYSE:SARO) last announced its quarterly earnings results on Monday, March 10th. The company reported ($0.04) EPS for the quarter, missing analysts’ consensus estimates of $0.16 by ($0.20). The firm had revenue of $1.41 billion during the quarter, compared to analysts’ expectations of $1.37 billion. The company’s revenue for the quarter was up 21.8% compared to the same quarter last year. On average, equities research analysts anticipate that StandardAero, Inc. will post 0.29 earnings per share for the current year.

Hedge Funds Weigh In On StandardAero

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. California State Teachers Retirement System acquired a new stake in StandardAero in the fourth quarter valued at $127,000. Public Employees Retirement System of Ohio acquired a new stake in shares of StandardAero in the fourth quarter valued at about $588,000. Woodline Partners LP acquired a new stake in shares of StandardAero in the fourth quarter valued at about $9,455,000. Zimmer Partners LP bought a new position in shares of StandardAero during the fourth quarter worth about $3,714,000. Finally, Squarepoint Ops LLC acquired a new position in shares of StandardAero in the fourth quarter worth approximately $6,422,000.

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.