StandardAero (NYSE:SARO) Shares Gap Down - Here's Why

StandardAero, Inc. (NYSE:SARO - Get Free Report)'s share price 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 traded.

Wall Street Analysts Forecast Growth

SARO has been the topic of a number of analyst reports. UBS Group increased their price target on shares of StandardAero from $27.00 to $28.00 and gave the company a "neutral" rating in a research report on Tuesday, March 11th. 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. Three analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, StandardAero presently has a consensus rating of "Moderate Buy" and an average target price of $34.89.

StandardAero Price Performance

The firm has a 50-day moving average price of $27.21.

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

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Institutional Trading of StandardAero

Hedge funds and other institutional investors have recently modified their holdings of the stock. Bessemer Group Inc. acquired a new position in shares of StandardAero during the 4th quarter worth approximately $28,000. R Squared Ltd acquired a new position in StandardAero during the fourth quarter worth $39,000. MetLife Investment Management LLC bought a new stake in StandardAero during the fourth quarter worth $54,000. PNC Financial Services Group Inc. acquired a new stake in StandardAero in the fourth quarter valued at $62,000. Finally, Sterling Capital Management LLC acquired a new position in shares of StandardAero during the 4th quarter worth about $78,000.

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.