Wall Street Zen Downgrades StandardAero (NYSE:SARO) to Hold

StandardAero (NYSE:SARO - Get Free Report) was downgraded by analysts at Wall Street Zen from a "buy" rating to a "hold" rating in a report issued on Saturday.

Several other research firms also recently issued reports on SARO. Morgan Stanley reduced their price objective on StandardAero from $33.00 to $32.00 and set an "equal weight" rating on the stock in a report on Friday, March 14th. UBS Group upped their target price on shares of StandardAero from $25.00 to $30.00 and gave the company a "neutral" rating in a research report on Tuesday, May 13th. Four analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $35.11.

StandardAero Stock Down 1.3%

NYSE:SARO traded down $0.39 during trading hours on Friday, hitting $30.38. 2,362,208 shares of the stock were exchanged, compared to its average volume of 2,269,597. The company's 50 day moving average is $27.77 and its two-hundred day moving average is $26.90. StandardAero has a twelve month low of $21.31 and a twelve month high of $34.38.

StandardAero (NYSE:SARO - Get Free Report) last posted its quarterly earnings data 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 firm had revenue of $1.44 billion for the quarter, compared to analyst estimates of $1.51 billion. The firm's revenue for the quarter was up 16.2% on a year-over-year basis. On average, analysts anticipate that StandardAero will post 0.29 EPS for the current year.

Insider Buying and Selling at StandardAero

In related news, major shareholder Private Ltd Gic sold 6,629,834 shares of the company's stock in a transaction on Thursday, March 27th. The shares were sold at an average price of $27.16, for a total value of $180,066,291.44. Following the completion of the transaction, the insider now directly owns 40,817,224 shares of the company's stock, valued at approximately $1,108,595,803.84. This represents a 13.97% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In the last 90 days, insiders sold 12,983,425 shares of company stock worth $353,519,326. Insiders own 1.90% of the company's stock.

Hedge Funds Weigh In On StandardAero

A number of large investors have recently modified their holdings of the business. Comerica Bank acquired a new stake in StandardAero in the 1st quarter valued at about $26,000. Bessemer Group Inc. acquired a new stake in StandardAero in the 4th quarter valued at about $28,000. Corebridge Financial Inc. lifted its stake in StandardAero by 46.8% in the 1st quarter. Corebridge Financial Inc. now owns 1,079 shares of the company's stock valued at $29,000 after purchasing an additional 344 shares during the last quarter. GAMMA Investing LLC lifted its stake in StandardAero by 272.3% in the 1st quarter. GAMMA Investing LLC now owns 1,128 shares of the company's stock valued at $30,000 after purchasing an additional 825 shares during the last quarter. Finally, KBC Group NV acquired a new stake in StandardAero in the 1st quarter valued at about $52,000.

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.