StandardAero (NYSE:SARO) Shares Up 4.9% – Still a Buy?

StandardAero, Inc. (NYSE:SARO) shares shot up 4.9% during trading on Thursday . The company traded as high as $26.13 and last traded at $26.11. 412,811 shares were traded during mid-day trading, a decline of 78% from the average session volume of 1,864,457 shares. The stock had previously closed at $24.90.

Wall Street Analyst Weigh In

Several brokerages recently commented on SARO. Wolfe Research assumed coverage on StandardAero in a research note on Monday, October 28th. They set an “outperform” rating and a $34.00 price objective on the stock. Bank of America dropped their price target on StandardAero from $34.00 to $32.00 and set a “neutral” rating on the stock in a research report on Wednesday, November 27th. UBS Group began coverage on StandardAero in a research report on Monday, October 28th. They issued a “neutral” rating and a $34.00 price objective for the company. Cibc World Mkts upgraded shares of StandardAero to a “strong-buy” rating in a report on Monday, October 28th. Finally, CIBC assumed coverage on shares of StandardAero in a research note on Monday, October 28th. They issued a “sector outperform” rating and a $38.00 price target on the stock. Three equities research 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 company’s stock. According to data from MarketBeat, StandardAero presently has an average rating of “Moderate Buy” and an average price target of $35.67.

StandardAero Trading Down 2.9 %

The company has a 50-day simple moving average of $26.08.

Hedge Funds Weigh In On StandardAero

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

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.