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

StandardAero’s (NYSE:SARO) lock-up period is set to expire on Monday, March 31st. StandardAero had issued 60,000,000 shares in its IPO on October 2nd. The total size of the offering was $1,440,000,000 based on an initial share price of $24.00. After the end of the company’s lock-up period, major shareholders and company insiders will be able to sell their shares of the company.

Analysts Set New Price Targets

SARO has been the topic of several research reports. UBS Group upped their price target on StandardAero from $27.00 to $28.00 and gave the company a “neutral” rating in a research report on Tuesday, March 11th. Morgan Stanley lowered their target price 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. Three research analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $34.89.

StandardAero Price Performance

StandardAero stock opened at $27.18 on Friday. StandardAero has a one year low of $22.50 and a one year high of $34.38. The business’s 50-day moving average price is $27.26.

StandardAero (NYSE:SARO) last posted its earnings results on Monday, March 10th. The company reported ($0.04) earnings per share (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 analysts’ expectations of $1.37 billion. The firm’s revenue for the quarter was up 21.8% compared to the same quarter last year. Equities research analysts predict that StandardAero will post 0.29 EPS for the current year.

Insider Activity at StandardAero

In related news, major shareholder Private Ltd Gic sold 6,629,834 shares of the company’s stock in a transaction dated Thursday, March 27th. The shares were sold at an average price of $27.16, for a total value of $180,066,291.44. Following the completion of the sale, the insider now owns 40,817,224 shares of the company’s stock, valued at $1,108,595,803.84. This represents a 13.97 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website.

Hedge Funds Weigh In On StandardAero

Several large investors have recently bought and sold shares of SARO. Wellington Management Group LLP acquired a new stake in shares of StandardAero in the 4th quarter worth approximately $183,924,000. Carlyle Group Inc. bought a new stake in StandardAero during the fourth quarter worth approximately $165,294,000. T. Rowe Price Investment Management Inc. acquired a new stake in StandardAero in the fourth quarter worth approximately $161,324,000. Price T Rowe Associates Inc. MD bought a new position in StandardAero during the 4th quarter valued at $155,829,000. Finally, Vanguard Group Inc. acquired a new position in shares of StandardAero during the 4th quarter valued at $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.