StandardAero (NYSE:SARO) Reaches New 12-Month High - Here's What Happened

Shares of StandardAero, Inc. (NYSE:SARO - Get Free Report) hit a new 52-week high on Wednesday . The company traded as high as $27.09 and last traded at $26.98, with a volume of 1115253 shares trading hands. The stock had previously closed at $26.93.

Analysts Set New Price Targets

A number of equities analysts have commented on SARO shares. UBS Group boosted their target price on shares of StandardAero from $27.00 to $28.00 and gave the stock a "neutral" rating in a report on Tuesday, March 11th. Morgan Stanley cut their price target on shares of StandardAero from $33.00 to $32.00 and set an "equal weight" rating on the stock in a report on Friday, March 14th. Three research analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $34.89.

StandardAero Price Performance

The stock has a 50 day moving average of $26.61 and a 200-day moving average of $26.89.

StandardAero (NYSE:SARO - Get Free Report) last issued its 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 company had revenue of $1.41 billion during the quarter, compared to analysts' expectations of $1.37 billion. The business's revenue for the quarter was up 21.8% on a year-over-year basis. As a group, analysts forecast that StandardAero, Inc. will post 0.29 earnings per share for the current fiscal year.

Insider Transactions at StandardAero

In other StandardAero news, major shareholder Private Ltd Gic sold 6,629,834 shares of the stock in a transaction that occurred on Thursday, March 27th. The stock was sold at an average price of $27.16, for a total transaction of $180,066,291.44. Following the transaction, the insider now owns 40,817,224 shares in the company, valued at approximately $1,108,595,803.84. This represents a 13.97 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. GAMMA Investing LLC increased its stake in shares of StandardAero by 272.3% during the first quarter. GAMMA Investing LLC now owns 1,128 shares of the company's stock worth $30,000 after purchasing an additional 825 shares in the last quarter. Cerity Partners LLC boosted its stake in StandardAero by 1.3% during the first quarter. Cerity Partners LLC now owns 69,342 shares of the company's stock worth $1,847,000 after buying an additional 863 shares during the last quarter. Bessemer Group Inc. purchased a new stake in StandardAero in the 4th quarter valued at $28,000. R Squared Ltd acquired a new stake in shares of StandardAero in the 4th quarter worth $39,000. Finally, KBC Group NV purchased a new position in shares of StandardAero during the 1st quarter worth $52,000.

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.