StandardAero (NYSE:SARO) Sets New 52-Week High - Here's What Happened

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

Analysts Set New Price Targets

Several equities research analysts recently weighed in on SARO shares. UBS Group lifted their price objective on StandardAero from $27.00 to $28.00 and gave the stock a "neutral" rating in a report on Tuesday, March 11th. Morgan Stanley reduced their target price on shares of 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 assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $34.89.

StandardAero Stock Performance

The firm's 50 day moving average is $26.60 and its 200 day moving average is $26.96.

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, equities analysts forecast that StandardAero, Inc. will post 0.29 EPS for the current year.

Insider Buying and Selling at StandardAero

In other news, major shareholder Private Ltd Gic sold 6,629,834 shares of the business's stock in a transaction dated 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 completion of the transaction, the insider now owns 40,817,224 shares of the company's stock, valued at approximately $1,108,595,803.84. The trade was a 13.97 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Institutional Investors Weigh In On StandardAero

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. GAMMA Investing LLC increased its holdings in shares of StandardAero by 272.3% in the 1st quarter. GAMMA Investing LLC now owns 1,128 shares of the company's stock worth $30,000 after buying an additional 825 shares during the last quarter. Bessemer Group Inc. bought a new position in StandardAero in the fourth quarter valued at $28,000. R Squared Ltd purchased a new stake in StandardAero during the fourth quarter valued at about $39,000. KBC Group NV bought a new stake in StandardAero during the first quarter worth about $52,000. Finally, MetLife Investment Management LLC bought a new position in shares of StandardAero during the 4th quarter valued at about $54,000.

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.