StandardAero (NYSE:SARO) Upgraded at Wall Street Zen

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

Other analysts have also recently issued reports about the company. Morgan Stanley cut their target price on StandardAero from $33.00 to $32.00 and set an "equal weight" rating on the stock in a research note on Friday, March 14th. UBS Group lifted their price objective on StandardAero from $25.00 to $30.00 and gave the stock a "neutral" rating in a research report on Tuesday, May 13th. Three research analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $35.11.

StandardAero Price Performance

SARO traded down $0.19 on Friday, hitting $28.64. 242,004 shares of the company were exchanged, compared to its average volume of 2,413,831. StandardAero has a 12 month low of $21.31 and a 12 month high of $34.38. The firm has a fifty day simple moving average of $26.85 and a two-hundred day simple moving average of $26.79.

StandardAero (NYSE:SARO - Get Free Report) last issued its 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 firm had revenue of $1.44 billion during the quarter, compared to the consensus estimate 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, analysts predict that StandardAero will post 0.29 earnings per share for the current year.

Insider Activity at StandardAero

In related news, major shareholder Private Ltd Gic sold 5,524,862 shares of the business'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 sale, the insider now owns 35,292,362 shares of the company's stock, valued at $963,481,482.60. The trade was a 13.54% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 1.90% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On StandardAero

Several hedge funds have recently bought and sold shares of the business. Carlyle Group Inc. bought a new stake in shares of StandardAero in the 4th quarter worth approximately $165,294,000. Mirae Asset Global Investments Co. Ltd. bought a new stake in StandardAero in the fourth quarter worth $486,000. Renaissance Capital LLC bought a new stake in StandardAero in the fourth quarter worth $3,992,000. Jennison Associates LLC bought a new stake in StandardAero in the fourth quarter worth $23,063,000. Finally, JPMorgan Chase & Co. bought a new stake in StandardAero in the fourth quarter worth $5,226,000.

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.