StandardAero, Inc.’s (NYSE:SARO) Lock-Up Period To End on March 31st

StandardAero’s (NYSE:SARO) lock-up period is set to expire 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. After the expiration of StandardAero’s lock-up period, company insiders and major shareholders will be able to sell their shares of the company.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the stock. UBS Group raised their price objective on shares of StandardAero from $27.00 to $28.00 and gave the stock a “neutral” rating in a report on Tuesday, March 11th. Morgan Stanley cut their price objective on shares of StandardAero from $33.00 to $32.00 and set an “equal weight” rating for the company in a research report on Friday, March 14th. Three research analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $34.89.

StandardAero Stock Up 1.3 %

Shares of NYSE SARO opened at $28.09 on Friday. The stock has a 50-day moving average price of $27.21. StandardAero has a 1 year low of $22.50 and a 1 year high of $34.38.

StandardAero (NYSE:SARO) last issued its quarterly 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 company had revenue of $1.41 billion during the quarter, compared to analysts’ expectations of $1.37 billion. StandardAero’s revenue for the quarter was up 21.8% compared to the same quarter last year. On average, sell-side analysts predict that StandardAero will post 0.29 earnings per share for the current fiscal year.

Institutional Trading of StandardAero

Hedge funds have recently added to or reduced their stakes in the business. Mirae Asset Global Investments Co. Ltd. purchased a new stake in shares of StandardAero in the 4th quarter worth approximately $486,000. Renaissance Capital LLC purchased a new stake in StandardAero during the fourth quarter worth $3,992,000. Jennison Associates LLC purchased a new stake in StandardAero during the fourth quarter worth $23,063,000. Legato Capital Management LLC bought a new stake in StandardAero during the 4th quarter valued at $335,000. Finally, Sumitomo Mitsui Trust Group Inc. purchased a new position in shares of StandardAero in the 4th quarter valued at $224,000.

About StandardAero

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.