StandardAero (NYSE:SARO) Shares Up 3.8% - Here's Why

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

Wall Street Analyst Weigh In

A number of brokerages have issued reports on SARO. UBS Group upped their price objective on shares of StandardAero from $27.00 to $28.00 and gave the stock a "neutral" rating in a research report on Tuesday, March 11th. Morgan Stanley cut their price target 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. Three 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 stock. According to MarketBeat, StandardAero presently has an average rating of "Moderate Buy" and a consensus target price of $34.89.

StandardAero Trading Down 3.1 %

The firm has a fifty day moving average price of $27.26.

StandardAero (NYSE:SARO - Get Free Report) last released 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 for the quarter, compared to analysts' expectations of $1.37 billion. The firm's revenue for the quarter was up 21.8% compared to the same quarter last year. As a group, analysts anticipate that StandardAero, Inc. will post 0.29 EPS for the current fiscal year.

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Insider Activity

In related news, major shareholder Private Ltd Gic sold 6,629,834 shares of the stock in a transaction on Thursday, March 27th. The stock was sold at an average price of $27.16, for a total value of $180,066,291.44. Following the transaction, the insider now owns 40,817,224 shares of the company's stock, valued at $1,108,595,803.84. This represents a 13.97 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Hedge Funds Weigh In On StandardAero

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

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.