StandardAero, Inc. (NYSE:SARO - Get Free Report) saw unusually-strong trading volume on Thursday . Approximately 4,413,212 shares traded hands during trading, an increase of 103% from the previous session's volume of 2,174,036 shares.The stock last traded at $28.23 and had previously closed at $28.38.
Wall Street Analysts Forecast Growth
SARO has been the subject of several recent research reports. Morgan Stanley decreased their price target on StandardAero from $33.00 to $32.00 and set an "equal weight" rating for the company in a report on Friday, March 14th. UBS Group upped their price objective on shares of StandardAero from $25.00 to $30.00 and gave the stock a "neutral" rating in a research report on Tuesday, May 13th. Three investment 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. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $35.11.
Get Our Latest Report on StandardAero
StandardAero Trading Down 1.0%
The stock has a fifty day moving average of $26.90 and a two-hundred day moving average of $26.82.
StandardAero (NYSE:SARO - Get Free Report) last posted its quarterly earnings results on Monday, May 12th. The company reported $0.19 earnings per share for the quarter, topping analysts' consensus estimates of $0.17 by $0.02. The company had revenue of $1.44 billion for the quarter, compared to analyst estimates of $1.51 billion. The firm's revenue was up 16.2% on a year-over-year basis. Analysts expect that StandardAero, Inc. will post 0.29 EPS for the current fiscal year.
Insiders Place Their Bets
In other StandardAero news, major shareholder Private Ltd Gic sold 6,629,834 shares of the business's stock in a transaction 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 sale, the insider now directly owns 40,817,224 shares in the company, valued at approximately $1,108,595,803.84. The trade was a 13.97% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 1.90% of the stock is currently owned by company insiders.
Institutional Inflows and Outflows
Hedge funds and other institutional investors have recently made changes to their positions in the company. Carlyle Group Inc. increased its holdings in StandardAero by 1,912.5% during the 1st quarter. Carlyle Group Inc. now owns 134,352,830 shares of the company's stock valued at $3,579,159,000 after acquiring an additional 127,676,968 shares in the last quarter. Vanguard Group Inc. grew its position in shares of StandardAero by 53.2% in the first quarter. Vanguard Group Inc. now owns 9,133,766 shares of the company's stock valued at $243,324,000 after purchasing an additional 3,171,404 shares during the last quarter. T. Rowe Price Investment Management Inc. grew its position in shares of StandardAero by 29.2% in the first quarter. T. Rowe Price Investment Management Inc. now owns 8,418,195 shares of the company's stock valued at $224,261,000 after purchasing an additional 1,902,687 shares during the last quarter. Wellington Management Group LLP increased its stake in shares of StandardAero by 9.1% during the 1st quarter. Wellington Management Group LLP now owns 8,106,811 shares of the company's stock worth $215,965,000 after purchasing an additional 678,520 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD acquired a new position in shares of StandardAero during the 4th quarter worth approximately $155,829,000.
About StandardAero
(
Get Free Report)
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.
Further Reading
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