StandardAero (NYSE:SARO) Sees Unusually-High Trading Volume – What’s Next?

Shares of StandardAero, Inc. (NYSE:SARO) saw unusually-strong trading volume on Wednesday . Approximately 7,876,887 shares traded hands during mid-day 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.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on SARO shares. Morgan Stanley cut their price objective 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. UBS Group increased their price objective on shares of StandardAero from $27.00 to $28.00 and gave the stock a “neutral” rating in a research note on Tuesday, March 11th. Finally, Bank of America lowered their target price 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 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 MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $34.89.

StandardAero Price Performance

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

StandardAero (NYSE:SARO) last released its quarterly earnings data 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 during the quarter, compared to analyst estimates of $1.37 billion. The business’s quarterly revenue was up 21.8% on a year-over-year basis. As a group, analysts forecast that StandardAero, Inc. will post 0.29 earnings per share for the current fiscal year.

Institutional Investors Weigh In On StandardAero

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