StandardAero (NYSE:SARO) Price Target Raised to $40.00

Key Points

• JPMorgan raised StandardAero’s price target from $38 to $40 and maintained an “overweight” rating, implying 41.32% upside from the prior close.
• Analyst sentiment remains positive overall, with a consensus “Moderate Buy” rating and an average price target of $34.77, despite some firms lowering targets or downgrading the stock.
• StandardAero exceeded quarterly expectations, reporting $0.33 in adjusted earnings per share versus a $0.30 estimate and $1.63 billion in revenue, up 13.3% year over year.

StandardAero (NYSE:SARO - Get Free Report) had its price target increased by analysts at JPMorgan Chase & Co. from $38.00 to $40.00 in a research report issued on Monday,Benzinga reports. The firm currently has an "overweight" rating on the stock. JPMorgan Chase & Co.'s target price would suggest a potential upside of 41.32% from the stock's previous close.

A number of other research firms have also recently weighed in on SARO. Truist Financial raised StandardAero to a "strong-buy" rating in a report on Friday, May 1st. Susquehanna reduced their price objective on StandardAero from $40.00 to $37.00 and set a "positive" rating on the stock in a research note on Monday, May 11th. Canadian Imperial Bank of Commerce restated an "outperform" rating and set a $39.00 target price on shares of StandardAero in a report on Friday, May 8th. Royal Bank Of Canada lowered their target price on StandardAero from $37.00 to $34.00 and set an "outperform" rating for the company in a research note on Friday, May 1st. Finally, Zacks Research downgraded shares of StandardAero from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, May 12th. Two research analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and six have issued a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $34.77.

StandardAero Price Performance

NYSE:SARO traded down $0.89 on Monday, reaching $28.30. The stock had a trading volume of 1,361,019 shares, compared to its average volume of 4,139,851. The company has a quick ratio of 1.59, a current ratio of 2.13 and a debt-to-equity ratio of 0.84. The company has a market capitalization of $9.41 billion, a P/E ratio of 29.19 and a beta of 0.92. StandardAero has a 1-year low of $23.83 and a 1-year high of $34.48. The stock has a fifty day moving average price of $27.93 and a 200-day moving average price of $28.00.

StandardAero (NYSE:SARO - Get Free Report) last posted its quarterly earnings data on Thursday, May 7th. The company reported $0.33 earnings per share for the quarter, topping the consensus estimate of $0.30 by $0.03. The company had revenue of $1.63 billion during the quarter, compared to analyst estimates of $1.49 billion. StandardAero had a net margin of 5.12% and a return on equity of 14.52%. The company's revenue was up 13.3% on a year-over-year basis. During the same quarter last year, the business posted $0.19 earnings per share. Research analysts forecast that StandardAero will post 1.43 EPS for the current year.

Insider Activity at StandardAero

In related news, CEO Russell Wayne Ford sold 40,000 shares of the company's stock in a transaction dated Thursday, August 6th. The stock was sold at an average price of $31.42, for a total value of $1,256,800.00. Following the completion of the sale, the chief executive officer owned 315,986 shares in the company, valued at approximately $9,928,280.12. This represents a 11.24% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Insiders sold 170,969 shares of company stock worth $5,222,709 over the last ninety days. 2.10% of the stock is owned by insiders.

Hedge Funds Weigh In On StandardAero

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Comerica Bank acquired a new stake in shares of StandardAero in the 1st quarter valued at approximately $26,000. Optiver Holding B.V. acquired a new position in StandardAero during the first quarter valued at approximately $51,000. Danske Bank A S acquired a new position in StandardAero during the third quarter valued at approximately $82,000. Parallel Advisors LLC increased its stake in StandardAero by 210.3% in the fourth quarter. Parallel Advisors LLC now owns 3,050 shares of the company's stock valued at $87,000 after purchasing an additional 2,067 shares in the last quarter. Finally, GAMMA Investing LLC raised its holdings in StandardAero by 54.6% in 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 period.

StandardAero Company Profile

StandardAero is a global aerospace maintenance, repair and overhaul (MRO) provider specializing in gas turbine engines, auxiliary power units (APUs), airframe components and oil & gas rotating equipment. The company offers a full suite of technical services including engine repair and overhaul, component repair, accessory maintenance, parts manufacturing and on-site field support. Its customer base spans commercial airlines, business and general aviation operators, regional carriers, original equipment manufacturers (OEMs) and defense organizations.

With roots dating back to 1911, StandardAero has grown through strategic acquisitions and organic expansion to become one of the largest independent MRO providers in the industry.

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