StandardAero (NYSE:SARO) Sees Large Volume Increase – Here’s What Happened

StandardAero, Inc. (NYSE:SARO) saw unusually-high 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.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the company. Morgan Stanley lowered their target price on StandardAero from $33.00 to $32.00 and set an “equal weight” rating for the company in a research note on Friday, March 14th. UBS Group increased their price target on StandardAero from $27.00 to $28.00 and gave the company a “neutral” rating in a 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 issued a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $34.89.

StandardAero Stock Performance

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

StandardAero (NYSE:SARO) last announced its quarterly earnings data on Monday, March 10th. The company reported ($0.04) earnings per share (EPS) for the quarter, missing the consensus estimate 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 business’s revenue was up 21.8% on a year-over-year basis. Research analysts forecast that StandardAero, Inc. will post 0.29 earnings per share for the current year.

Institutional Investors Weigh In On StandardAero

Several institutional investors and hedge funds have recently made changes to their positions in the company. R Squared Ltd acquired a new position in StandardAero in the fourth quarter worth $39,000. Jennison Associates LLC bought a new position in shares of StandardAero in the 4th quarter worth about $23,063,000. Renaissance Capital LLC acquired a new position in shares of StandardAero in the 4th quarter valued at about $3,992,000. Mirae Asset Global Investments Co. Ltd. bought a new stake in shares of StandardAero during the 4th quarter valued at about $486,000. Finally, Sumitomo Mitsui Trust Group Inc. acquired a new stake in StandardAero during the fourth quarter worth about $224,000.

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.