StandardAero, Inc. (NYSE:SARO) Receives $35.11 Average PT from Brokerages

StandardAero, Inc. (NYSE:SARO - Get Free Report) has earned an average recommendation of "Moderate Buy" from the ten ratings firms that are currently covering the company, MarketBeat Ratings reports. Three analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. The average twelve-month price target among brokerages that have issued a report on the stock in the last year is $35.11.

A number of analysts have commented on the stock. Morgan Stanley reduced 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 note on Friday, March 14th. UBS Group boosted their target price on shares of StandardAero from $25.00 to $30.00 and gave the company a "neutral" rating in a research note on Tuesday, May 13th. Finally, Wall Street Zen raised shares of StandardAero from a "hold" rating to a "buy" rating in a research note on Saturday.

Insider Buying and Selling at StandardAero

In other StandardAero 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 transaction of $150,828,732.60. Following the completion of the sale, the insider now directly owns 35,292,362 shares in the company, valued at $963,481,482.60. This represents a 13.54% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 1.90% of the company's stock.

Institutional Investors Weigh In On StandardAero

Hedge funds have recently made changes to their positions in the stock. Comerica Bank bought a new stake in shares of StandardAero in the first quarter valued at about $26,000. Corebridge Financial Inc. raised its position in StandardAero by 46.8% in the first quarter. Corebridge Financial Inc. now owns 1,079 shares of the company's stock worth $29,000 after purchasing an additional 344 shares in the last quarter. GAMMA Investing LLC raised its position in StandardAero by 272.3% in the first quarter. GAMMA Investing LLC now owns 1,128 shares of the company's stock worth $30,000 after purchasing an additional 825 shares in the last quarter. Bessemer Group Inc. acquired a new position in StandardAero in the fourth quarter worth about $28,000. Finally, R Squared Ltd acquired a new position in StandardAero in the fourth quarter worth about $39,000.

StandardAero Price Performance

Shares of NYSE SARO traded down $0.08 during mid-day trading on Friday, reaching $28.61. 971,321 shares of the company traded hands, compared to its average volume of 2,265,390. StandardAero has a fifty-two week low of $21.31 and a fifty-two week high of $34.38. The stock has a fifty day simple moving average of $26.85 and a 200-day simple moving average of $26.77.

StandardAero (NYSE:SARO - Get Free Report) last posted its quarterly earnings results on Monday, May 12th. The company reported $0.19 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.17 by $0.02. The business had revenue of $1.44 billion during the quarter, compared to analyst estimates of $1.51 billion. The business's revenue for the quarter was up 16.2% compared to the same quarter last year. As a group, equities research analysts forecast 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.