StandardAero (NYSE:SARO) Shares Up 5.7% on Analyst Upgrade

StandardAero, Inc. (NYSE:SARO) shares rose 5.7% on Tuesday after UBS Group raised their price target on the stock from $27.00 to $28.00. UBS Group currently has a neutral rating on the stock. StandardAero traded as high as $28.50 and last traded at $27.79. Approximately 300,991 shares traded hands during mid-day trading, a decline of 82% from the average daily volume of 1,665,350 shares. The stock had previously closed at $26.30.

Separately, Bank of America decreased their target price on shares of StandardAero from $34.00 to $32.00 and set a “neutral” rating on the stock in a report on Wednesday, November 27th. 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’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $35.00.

Institutional Trading of StandardAero

Hedge funds have recently made changes to their positions in the stock. Wellington Management Group LLP bought a new position in StandardAero during the fourth quarter valued at approximately $183,924,000. Carlyle Group Inc. purchased a new position in shares of StandardAero in the fourth quarter worth $165,294,000. T. Rowe Price Investment Management Inc. bought a new position in shares of StandardAero during the fourth quarter valued at about $161,324,000. Price T Rowe Associates Inc. MD purchased a new stake in shares of StandardAero during the fourth quarter worth about $155,829,000. Finally, Vanguard Group Inc. bought a new stake in shares of StandardAero in the 4th quarter worth approximately $147,628,000.

StandardAero Stock Performance

The business’s fifty day simple moving average is $26.09.

StandardAero (NYSE:SARO) last announced its earnings results 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 firm had revenue of $1.41 billion during the quarter, compared to analysts’ expectations of $1.37 billion. StandardAero’s revenue for the quarter was up 21.8% on a year-over-year basis. Equities analysts expect that StandardAero, Inc. will post 0.29 earnings per share for the current fiscal year.

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.