StandardAero (NYSE:SARO) Shares Gap Down – Time to Sell?

Shares of StandardAero, Inc. (NYSE:SARO) gapped down prior to trading on Tuesday . The stock had previously closed at $29.93, but opened at $28.99. StandardAero shares last traded at $29.03, with a volume of 82,649 shares trading hands.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the stock. UBS Group upped their price objective on shares of StandardAero from $25.00 to $30.00 and gave the company a “neutral” rating in a research report on Tuesday, May 13th. Morgan Stanley cut their target price on shares of StandardAero from $33.00 to $32.00 and set an “equal weight” rating on the stock in a report on Friday, March 14th. Three research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $35.11.

StandardAero Price Performance

The firm has a 50-day simple moving average of $26.90 and a two-hundred day simple moving average of $26.80.

StandardAero (NYSE:SARO) last released its quarterly earnings data on Monday, May 12th. The company reported $0.19 EPS for the quarter, topping analysts’ consensus estimates of $0.17 by $0.02. The firm had revenue of $1.44 billion during the quarter, compared to analyst estimates of $1.51 billion. The business’s quarterly revenue was up 16.2% compared to the same quarter last year. Sell-side analysts anticipate that StandardAero, Inc. will post 0.29 earnings per share 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 on Thursday, March 27th. The shares were sold at an average price of $27.16, for a total transaction of $180,066,291.44. Following the completion of the sale, the insider now directly owns 40,817,224 shares of the company’s stock, valued at approximately $1,108,595,803.84. This represents a 13.97% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.90% of the stock is owned by company insiders.

Hedge Funds Weigh In On StandardAero

A number of hedge funds and other institutional investors have recently made changes to their positions in SARO. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC bought a new stake in shares of StandardAero in the 1st quarter valued at approximately $12,343,000. Woodline Partners LP raised its stake in StandardAero by 71.7% during the first quarter. Woodline Partners LP now owns 655,553 shares of the company’s stock worth $17,464,000 after acquiring an additional 273,697 shares in the last quarter. Yaupon Capital Management LP grew its holdings in shares of StandardAero by 308.6% in the 1st quarter. Yaupon Capital Management LP now owns 525,000 shares of the company’s stock worth $13,986,000 after purchasing an additional 396,518 shares during the last quarter. Zimmer Partners LP increased its position in shares of StandardAero by 33.3% during the 1st quarter. Zimmer Partners LP now owns 200,000 shares of the company’s stock worth $5,328,000 after purchasing an additional 50,000 shares in the last quarter. Finally, Goldman Sachs Group Inc. bought a new position in StandardAero during the 1st quarter valued at about $6,821,000.

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.