StandardAero (NYSE:SARO) Shares Up 3.8% – What’s Next?

StandardAero, Inc. (NYSE:SARO) shares traded up 3.8% on Tuesday . The stock traded as high as $29.85 and last traded at $29.84. 758,173 shares were traded during 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 equities analysts recently weighed in on the stock. Morgan Stanley lowered their target price on shares of StandardAero from $33.00 to $32.00 and set an “equal weight” rating for the company in a research note on Friday, March 14th. Bank of America lowered their price objective on StandardAero from $34.00 to $32.00 and set a “neutral” rating for the company in a research report on Wednesday, November 27th. Finally, UBS Group upped their target price on StandardAero from $27.00 to $28.00 and gave the company a “neutral” rating in a research report on Tuesday, March 11th. Three equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, StandardAero has an average rating of “Moderate Buy” and a consensus price target of $34.89.

StandardAero Stock Up 1.9 %

The company’s 50 day moving average price is $26.95.

StandardAero (NYSE:SARO) last announced its quarterly earnings data on Monday, March 10th. The company reported ($0.04) EPS for the quarter, missing analysts’ consensus estimates of $0.16 by ($0.20). The business had revenue of $1.41 billion during the quarter, compared to analysts’ expectations of $1.37 billion. The firm’s revenue was up 21.8% on a year-over-year basis. On average, equities research analysts forecast 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 bought and sold shares of SARO. R Squared Ltd acquired a new position in shares of StandardAero during the fourth quarter valued at about $39,000. Jennison Associates LLC acquired a new position in StandardAero during the 4th quarter valued at about $23,063,000. Renaissance Capital LLC bought a new stake in StandardAero during the 4th quarter worth approximately $3,992,000. Mirae Asset Global Investments Co. Ltd. purchased a new position in shares of StandardAero during the fourth quarter valued at approximately $486,000. Finally, Sumitomo Mitsui Trust Group Inc. bought a new stake in StandardAero during the fourth quarter worth $224,000.

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.