StandardAero (NYSE:SARO) Stock Gets Price Target Bump from UBS Group

Key Points

• UBS raised its StandardAero price target to $34 from $32 and maintained a Buy rating, implying 23.6% upside from the share price cited in the report.
• Analyst sentiment is broadly positive: MarketBeat reports a “Moderate Buy” consensus and an average price target of $33.27, though some firms recently lowered their targets or ratings.
• StandardAero shares rose 8.7% to $27.51 in Friday trading. In its latest quarter, the company slightly beat EPS estimates at $0.39 and reported revenue of $1.56 billion, up 4% year over year.

StandardAero (NYSE:SARO - Get Free Report) had its price objective increased by research analysts at UBS Group from $32.00 to $34.00 in a research report issued to clients and investors on Friday, Benzinga reports. The firm currently has a "buy" rating on the stock. UBS Group's price objective points to a potential upside of 23.60% from the stock's current price.

Several other research analysts have also weighed in on SARO. Royal Bank Of Canada cut their target price on StandardAero from $34.00 to $32.00 and set an "outperform" rating on the stock in a research report on Wednesday, October 28th. Weiss Ratings downgraded StandardAero from a "hold (c)" rating to a "hold (c-)" rating in a research report on Friday, September 11th. Canadian Imperial Bank of Commerce lowered their price target on StandardAero from $38.00 to $35.00 and set an "outperformer" rating for the company in a research report on Monday, October 26th. Morgan Stanley set a $33.00 price target on StandardAero in a research note on Monday, August 10th. Finally, Sanford C. Bernstein restated an "outperform" rating on shares of StandardAero in a report on Monday, August 24th. Two investment analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $33.27.

StandardAero Trading Up 8.7%

Shares of SARO traded up $2.21 during mid-day trading on Friday, hitting $27.51. The company had a trading volume of 6,848,326 shares, compared to its average volume of 4,016,289. The business's 50-day simple moving average is $22.65 and its 200-day simple moving average is $26.56. The company has a quick ratio of 1.59, a current ratio of 2.13 and a debt-to-equity ratio of 0.84. StandardAero has a 1-year low of $19.56 and a 1-year high of $34.48. The stock has a market cap of $9.10 billion, a PE ratio of 28.36 and a beta of 0.82.

StandardAero (NYSE:SARO - Get Free Report) last issued its quarterly earnings results on Friday, November 6th. The company reported $0.39 EPS for the quarter, topping the consensus estimate of $0.38 by $0.01. The firm had revenue of $1.56 billion during the quarter, compared to analyst estimates of $1.56 billion. StandardAero had a net margin of 5.12% and a return on equity of 14.52%. StandardAero's revenue for the quarter was up 4.0% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.20 earnings per share. Sell-side analysts forecast that StandardAero will post 1.50 earnings per share for the current year.

Hedge Funds Weigh In On StandardAero

Several hedge funds and other institutional investors have recently made changes to their positions in SARO. Royal Bank of Canada lifted its holdings in StandardAero by 0.3% during the 1st quarter. Royal Bank of Canada now owns 161,325 shares of the company's stock worth $4,167,000 after buying an additional 448 shares during the last quarter. MassMutual Private Wealth & Trust FSB increased its holdings in shares of StandardAero by 72.7% in the 3rd quarter. MassMutual Private Wealth & Trust FSB now owns 1,290 shares of the company's stock valued at $28,000 after acquiring an additional 543 shares during the last quarter. Signaturefd LLC raised its position in shares of StandardAero by 37.4% during the 3rd quarter. Signaturefd LLC now owns 2,302 shares of the company's stock valued at $49,000 after acquiring an additional 627 shares in the last quarter. Commonwealth Equity Services LLC raised its position in shares of StandardAero by 3.4% during the 3rd quarter. Commonwealth Equity Services LLC now owns 22,734 shares of the company's stock valued at $485,000 after acquiring an additional 748 shares in the last quarter. Finally, GAMMA Investing LLC lifted its stake in StandardAero by 54.6% during the second quarter. GAMMA Investing LLC now owns 3,002 shares of the company's stock worth $90,000 after purchasing an additional 1,060 shares during the last quarter.

StandardAero Company Profile

StandardAero is an aerospace maintenance, repair and overhaul (MRO) company that provides services for commercial and business aviation, military and government operators, and helicopter customers. The company supports aircraft throughout their operating life, helping customers maintain, repair, upgrade and return aircraft and components to service.

Its services include engine maintenance, repair and overhaul; airframe maintenance; avionics and electrical work; component and accessory repair; engineering; and aircraft modifications.

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