StandardAero's (SARO) "Buy" Rating Reaffirmed at BTIG Research

Key Points

• BTIG Research reaffirmed its “Buy” rating on StandardAero and maintained a $35 price target, implying 27.24% upside from the prior close.
• Analyst sentiment is broadly positive but mixed: MarketBeat reports a “Moderate Buy” consensus and an average price target of $33.55, while some firms rate the stock Hold or Negative.
• StandardAero reported quarterly EPS of $0.39, slightly above the $0.38 estimate; revenue was $1.56 billion, up 4% year over year, and EPS rose from $0.20 a year earlier.

StandardAero (NYSE:SARO - Get Free Report)'s stock had its "buy" rating reaffirmed by BTIG Research in a report released on Monday, Benzinga reports. They currently have a $35.00 price objective on the stock. BTIG Research's price objective suggests a potential upside of 27.24% from the company's previous close.

Several other research analysts have also issued reports on SARO. Susquehanna reissued a "negative" rating on shares of StandardAero in a research note on Thursday, October 1st. Canadian Imperial Bank of Commerce reduced their price target on shares of StandardAero from $38.00 to $35.00 and set an "outperformer" rating for the company in a report on Monday, October 26th. Bank of America decreased their price target on shares of StandardAero from $35.00 to $27.00 and set a "neutral" rating for the company in a research note on Thursday, September 17th. Wall Street Zen lowered shares of StandardAero from a "buy" rating to a "hold" rating in a report on Sunday, November 1st. Finally, JPMorgan Chase & Co. increased their price objective on shares of StandardAero from $38.00 to $40.00 and gave the stock an "overweight" rating in a research report on Monday, August 10th. Two equities research analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $33.55.

StandardAero Price Performance

Shares of SARO opened at $27.51 on Monday. The firm has a market cap of $9.10 billion, a PE ratio of 26.20 and a beta of 0.82. StandardAero has a 52-week low of $19.56 and a 52-week high of $34.48. The business's 50 day moving average price is $22.70 and its two-hundred day moving average price is $26.54. The company has a debt-to-equity ratio of 0.87, a quick ratio of 1.74 and a current ratio of 2.26.

StandardAero (NYSE:SARO - Get Free Report) last announced its quarterly earnings data on Thursday, November 5th. The company reported $0.39 EPS for the quarter, topping the consensus estimate of $0.38 by $0.01. The company had revenue of $1.56 billion during the quarter, compared to the consensus estimate of $1.56 billion. StandardAero had a net margin of 5.46% and a return on equity of 16.27%. The company's quarterly revenue was up 4.0% on a year-over-year basis. During the same quarter last year, the firm posted $0.20 EPS. On average, equities analysts anticipate that StandardAero will post 1.50 EPS for the current year.

Institutional Trading of StandardAero

Several institutional investors have recently made changes to their positions in SARO. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of StandardAero by 19.7% during the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 437,138 shares of the company's stock worth $13,075,000 after purchasing an additional 72,089 shares during the period. Carlyle Group Inc. purchased a new position in shares of StandardAero in the 2nd quarter worth about $2,529,998,000. Bank of America Corp DE bought a new position in StandardAero during the second quarter valued at about $178,878,000. Public Employees Retirement System of Ohio bought a new position in StandardAero during the second quarter valued at about $1,966,000. Finally, BlackRock Inc. bought a new position in StandardAero during the second quarter valued at about $646,128,000.

StandardAero Company Profile

StandardAero is a provider of maintenance, repair and overhaul services for the aerospace and aviation industries. Its work includes servicing and repairing aircraft engines, airframes and related components, as well as providing engineering and other technical support.

The company serves customers across business and general aviation, commercial aviation, military and helicopter markets. Its services support aircraft operators, airlines, original equipment manufacturers and government organizations, with operations and facilities serving customers in multiple regions worldwide.

StandardAero traces its history to 1911, when it began as Standard Machine Works in Winnipeg, Canada.

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