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

StandardAero, Inc. (NYSE:SARO) gapped down before the market opened 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 trading hands.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on SARO shares. UBS Group increased their price objective on shares of StandardAero from $27.00 to $28.00 and gave the company a “neutral” rating in a research note on Tuesday, March 11th. Bank of America reduced their target price on shares of StandardAero from $34.00 to $32.00 and set a “neutral” rating for the company in a report on Wednesday, November 27th. Finally, Morgan Stanley reduced their target price on shares of StandardAero from $33.00 to $32.00 and set an “equal weight” rating for the company in a report on Friday, March 14th. Three equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $34.89.

StandardAero Trading Down 1.4 %

The firm’s 50-day moving average price is $26.83.

StandardAero (NYSE:SARO) last posted its quarterly earnings results 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 analysts’ expectations of $1.37 billion. The company’s revenue for the quarter was up 21.8% compared to the same quarter last year. Research analysts expect that StandardAero, Inc. will post 0.29 earnings per share for the current fiscal year.

Hedge Funds Weigh In On StandardAero

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Wellington Management Group LLP acquired a new position in StandardAero during the fourth quarter worth about $183,924,000. Carlyle Group Inc. purchased a new position in StandardAero during the fourth quarter worth about $165,294,000. T. Rowe Price Investment Management Inc. purchased a new position in StandardAero during the fourth quarter worth about $161,324,000. Price T Rowe Associates Inc. MD purchased a new position in StandardAero during the fourth quarter worth about $155,829,000. Finally, Vanguard Group Inc. purchased a new position in StandardAero during the fourth quarter worth about $147,628,000.

StandardAero Company Profile

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.