Victory Capital Management Inc. Invests $376,000 in StandardAero, Inc. (NYSE:SARO)

Victory Capital Management Inc. bought a new stake in StandardAero, Inc. (NYSE:SARO) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 15,186 shares of the company’s stock, valued at approximately $376,000.

Other institutional investors have also added to or reduced their stakes in the company. R Squared Ltd bought a new position in StandardAero in the fourth quarter valued at $39,000. Amalgamated Bank bought a new position in StandardAero in the fourth quarter valued at $98,000. Sumitomo Mitsui Trust Group Inc. bought a new position in StandardAero in the fourth quarter valued at $224,000. Legato Capital Management LLC bought a new position in StandardAero in the fourth quarter valued at $335,000. Finally, Mirae Asset Global Investments Co. Ltd. bought a new position in StandardAero in the fourth quarter valued at $486,000.

StandardAero Stock Down 1.5 %

NYSE SARO opened at $28.68 on Friday. The company’s 50-day simple moving average is $26.83. StandardAero, Inc. has a 12-month low of $22.50 and a 12-month high of $34.38.

StandardAero (NYSE:SARO) last posted its earnings results on Monday, March 10th. The company reported ($0.04) earnings per share for the quarter, missing analysts’ consensus estimates of $0.16 by ($0.20). The firm had revenue of $1.41 billion for the quarter, compared to the consensus estimate of $1.37 billion. The firm’s revenue for the quarter was up 21.8% compared to the same quarter last year. Sell-side analysts predict that StandardAero, Inc. will post 0.29 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research firms recently commented on SARO. UBS Group increased their target price on StandardAero from $27.00 to $28.00 and gave the company a “neutral” rating in a research note on Tuesday, March 11th. Bank of America reduced their target price on StandardAero from $34.00 to $32.00 and set a “neutral” rating on the stock in a research note on Wednesday, November 27th. Finally, Morgan Stanley cut their price target 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 equities 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 company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $34.89.

StandardAero 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.