StandardAero (NYSE:SARO) Shares Gap Down – Here’s Why

Shares of StandardAero, Inc. (NYSE:SARO) gapped down before the market opened on Monday . The stock had previously closed at $28.59, but opened at $27.64. StandardAero shares last traded at $28.19, with a volume of 146,100 shares trading hands.

Analyst Ratings Changes

Several brokerages have issued reports on SARO. Bank of America decreased their target price on shares of StandardAero from $34.00 to $32.00 and set a “neutral” rating for the company in a report on Wednesday, November 27th. UBS Group upped their price objective on StandardAero from $27.00 to $28.00 and gave the company a “neutral” rating in a research report on Tuesday, March 11th. Finally, Morgan Stanley reduced their target price on StandardAero from $33.00 to $32.00 and set an “equal weight” rating for the company in a report on Friday, March 14th. Three 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 company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $34.89.

StandardAero Stock Up 1.9 %

The firm has a 50 day simple moving average of $27.05.

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 business had revenue of $1.41 billion during the quarter, compared to analyst estimates of $1.37 billion. The business’s revenue was up 21.8% compared to the same quarter last year. As a group, analysts forecast that StandardAero, Inc. will post 0.29 EPS for the current year.

Institutional Trading of StandardAero

Several large investors have recently added to or reduced their stakes in SARO. California State Teachers Retirement System purchased a new position in shares of StandardAero during the 4th quarter worth $127,000. Public Employees Retirement System of Ohio purchased a new position in StandardAero during the fourth quarter valued at $588,000. Woodline Partners LP bought a new stake in StandardAero during the fourth quarter valued at about $9,455,000. Zimmer Partners LP purchased a new stake in StandardAero in the fourth quarter worth about $3,714,000. Finally, Squarepoint Ops LLC bought a new position in shares of StandardAero in the fourth quarter worth about $6,422,000.

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.