Brokerages Set StandardAero, Inc. (NYSE:SARO) Price Target at $35.11

Shares of StandardAero, Inc. (NYSE:SARO) have received a consensus recommendation of “Moderate Buy” from the ten research firms that are currently covering the firm, Marketbeat.com reports. Three investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. The average 1-year price objective among brokerages that have issued a report on the stock in the last year is $35.11.

Several equities analysts have commented on SARO shares. UBS Group boosted their price target on shares of StandardAero from $25.00 to $30.00 and gave the stock a “neutral” rating in a research note on Tuesday, May 13th. Morgan Stanley decreased 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. Finally, Wall Street Zen cut shares of StandardAero from a “buy” rating to a “hold” rating in a research report on Saturday, June 14th.

Insider Activity at StandardAero

In other news, major shareholder Private Ltd Gic sold 5,524,862 shares of the company’s stock in a transaction dated Friday, May 23rd. The shares were sold at an average price of $27.30, for a total value of $150,828,732.60. Following the completion of the sale, the insider now directly owns 35,292,362 shares of the company’s stock, valued at approximately $963,481,482.60. This represents a 13.54% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders sold a total of 12,983,425 shares of company stock valued at $353,519,326 over the last ninety days. Insiders own 1.90% of the company’s stock.

Institutional Investors Weigh In On StandardAero

Institutional investors and hedge funds have recently made changes to their positions in the business. Comerica Bank purchased a new stake in shares of StandardAero in the first quarter valued at about $26,000. Bessemer Group Inc. purchased a new stake in shares of StandardAero in the fourth quarter valued at about $28,000. Corebridge Financial Inc. raised its holdings in shares of StandardAero by 46.8% in the first quarter. Corebridge Financial Inc. now owns 1,079 shares of the company’s stock valued at $29,000 after buying an additional 344 shares during the last quarter. GAMMA Investing LLC raised its holdings in shares of StandardAero by 272.3% in the first quarter. GAMMA Investing LLC now owns 1,128 shares of the company’s stock valued at $30,000 after buying an additional 825 shares during the last quarter. Finally, KBC Group NV purchased a new stake in shares of StandardAero in the first quarter valued at about $52,000.

StandardAero Trading Down 1.6%

SARO stock opened at $29.25 on Thursday. The company has a current ratio of 2.00, a quick ratio of 1.37 and a debt-to-equity ratio of 0.95. StandardAero has a 12 month low of $21.31 and a 12 month high of $34.38. The firm has a 50-day moving average of $28.32 and a two-hundred day moving average of $26.94.

StandardAero (NYSE:SARO) last announced its quarterly earnings results on Monday, May 12th. The company reported $0.19 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.17 by $0.02. The firm had revenue of $1.44 billion for the quarter, compared to analyst estimates of $1.51 billion. The business’s quarterly revenue was up 16.2% on a year-over-year basis. As a group, equities research analysts expect that StandardAero will post 0.29 EPS for the current fiscal year.

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.