StandardAero (NYSE:SARO) Shares Up 3.8% – Still a Buy?

StandardAero, Inc. (NYSE:SARO) shares shot up 3.8% during trading on Tuesday . The company traded as high as $29.85 and last traded at $29.84. 758,173 shares changed hands during trading, a decline of 48% from the average session volume of 1,464,068 shares. The stock had previously closed at $28.74.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the stock. UBS Group upped their price objective 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 reduced their price target 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. Finally, Bank of America lowered their price objective on shares of StandardAero from $34.00 to $32.00 and set a “neutral” rating on the stock in a research note on Wednesday, November 27th. Three investment 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 stock. According to data from MarketBeat.com, StandardAero currently has a consensus rating of “Moderate Buy” and an average target price of $34.89.

StandardAero Stock Performance

The company’s 50-day moving average is $27.13.

StandardAero (NYSE:SARO) last issued its quarterly earnings results on Monday, March 10th. The company reported ($0.04) earnings per share for the quarter, missing analysts’ consensus estimates of $0.16 by ($0.20). The firm had revenue of $1.41 billion during the quarter, compared to analyst estimates of $1.37 billion. The company’s quarterly revenue was up 21.8% on a year-over-year basis. Sell-side analysts forecast that StandardAero, Inc. will post 0.29 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in SARO. Bessemer Group Inc. purchased a new position in shares of StandardAero during the 4th quarter valued at $28,000. R Squared Ltd purchased a new position in StandardAero in the fourth quarter valued at about $39,000. MetLife Investment Management LLC acquired a new position in StandardAero in the 4th quarter worth about $54,000. PNC Financial Services Group Inc. purchased a new stake in shares of StandardAero during the 4th quarter worth about $62,000. Finally, Sterling Capital Management LLC acquired a new stake in shares of StandardAero during the 4th quarter valued at about $78,000.

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.