StandardAero, Inc.’s (NYSE:SARO) Lock-Up Period To End Tomorrow

StandardAero’s (NYSE:SARO) lock-up period will end on Monday, March 31st. StandardAero had issued 60,000,000 shares in its public offering on October 2nd. The total size of the offering was $1,440,000,000 based on an initial share price of $24.00. Shares of the company owned by company insiders and major shareholders will be eligible for trade following the expiration of the lock-up period.

Analysts Set New Price Targets

Several research firms have recently commented on SARO. Morgan Stanley reduced their price target on shares of StandardAero from $33.00 to $32.00 and set an “equal weight” rating on the stock in a research report on Friday, March 14th. UBS Group raised their target price on StandardAero from $27.00 to $28.00 and gave the stock a “neutral” rating in a research note on Tuesday, March 11th. Three equities research 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’s stock. According to data from MarketBeat, StandardAero presently has an average rating of “Moderate Buy” and a consensus target price of $34.89.

StandardAero Stock Performance

NYSE:SARO opened at $27.18 on Friday. StandardAero has a 52 week low of $22.50 and a 52 week high of $34.38. The stock’s fifty day moving average price is $27.26.

StandardAero (NYSE:SARO) last announced its quarterly earnings data on Monday, March 10th. The company reported ($0.04) EPS for the quarter, missing analysts’ consensus estimates of $0.16 by ($0.20). The business had revenue of $1.41 billion for the quarter, compared to the consensus estimate of $1.37 billion. The firm’s quarterly revenue was up 21.8% on a year-over-year basis. As a group, analysts anticipate that StandardAero will post 0.29 EPS 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 firm’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 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. This trade represents a 13.97 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link.

Hedge Funds Weigh In On StandardAero

Several institutional investors and hedge funds have recently modified their holdings of SARO. Wellington Management Group LLP purchased a new position in StandardAero during the fourth quarter worth approximately $183,924,000. Carlyle Group Inc. acquired a new position in StandardAero during the 4th quarter worth approximately $165,294,000. T. Rowe Price Investment Management Inc. purchased a new position in shares of StandardAero in the fourth quarter valued at $161,324,000. Price T Rowe Associates Inc. MD purchased a new position in StandardAero in the 4th quarter valued at about $155,829,000. Finally, Vanguard Group Inc. acquired a new stake in shares of StandardAero during the fourth quarter valued at about $147,628,000.

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.