StandardAero (NYSE:SARO) Trading Up 4.9% – Here’s Why

StandardAero, Inc. (NYSE:SARO)’s share price was up 4.9% during mid-day trading on Thursday . The stock traded as high as $26.13 and last traded at $26.11. Approximately 412,811 shares changed hands during trading, a decline of 78% from the average daily volume of 1,864,457 shares. The stock had previously closed at $24.90.

Analyst Ratings Changes

Several equities research analysts have recently commented on the stock. UBS Group initiated coverage on shares of StandardAero in a research note on Monday, October 28th. They issued a “neutral” rating and a $34.00 target price on the stock. Royal Bank of Canada began coverage on shares of StandardAero in a report on Monday, October 28th. They set an “outperform” rating and a $37.00 price objective for the company. Cibc World Mkts raised StandardAero to a “strong-buy” rating in a report on Monday, October 28th. JPMorgan Chase & Co. began coverage on StandardAero in a report on Monday, October 28th. They set an “overweight” rating and a $36.00 price target for the company. Finally, Jefferies Financial Group assumed coverage on StandardAero in a research note on Monday, October 28th. They issued a “buy” rating and a $38.00 price objective on the stock. Three investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $35.67.

StandardAero Price Performance

The business’s fifty day moving average price is $26.08.

Institutional Investors Weigh In On StandardAero

A number of institutional investors and hedge funds have recently modified their holdings of SARO. Jennison Associates LLC bought a new stake in shares of StandardAero during the 4th quarter valued at $23,063,000. Renaissance Capital LLC bought a new stake in StandardAero in the fourth quarter valued at about $3,992,000. Finally, R Squared Ltd acquired a new position in StandardAero in the fourth quarter valued at about $39,000.

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.