StandardAero (NYSE:SARO) Sees Unusually-High Trading Volume – Time to Buy?

Shares of StandardAero, Inc. (NYSE:SARO) saw an uptick in trading volume on Wednesday . 7,876,887 shares traded hands during trading, an increase of 400% from the previous session’s volume of 1,573,904 shares.The stock last traded at $28.05 and had previously closed at $29.32.

Analysts Set New Price Targets

Several research firms recently issued reports on SARO. Bank of America cut their target price on StandardAero from $34.00 to $32.00 and set a “neutral” rating on the stock in a research note on Wednesday, November 27th. UBS Group boosted their target price on StandardAero from $27.00 to $28.00 and gave the company a “neutral” rating in a research note on Tuesday, March 11th. Finally, Morgan Stanley dropped their price target on 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 investment analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $34.89.

StandardAero Price Performance

The business’s 50-day moving average is $27.05.

StandardAero (NYSE:SARO) last posted its quarterly 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 firm had revenue of $1.41 billion during the quarter, compared to analysts’ expectations of $1.37 billion. The firm’s revenue for the quarter was up 21.8% on a year-over-year basis. On average, equities analysts predict that StandardAero, Inc. will post 0.29 earnings per share for the current year.

Institutional Investors Weigh In On StandardAero

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