StandardAero (NYSE:SARO) Upgraded at Wall Street Zen

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

Several other brokerages also recently weighed in on SARO. UBS Group increased their target price on shares of StandardAero from $25.00 to $30.00 and gave the stock a "neutral" rating in a research note on Tuesday, May 13th. Morgan Stanley decreased their target price 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. Three investment 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 stock. Based on data from MarketBeat, StandardAero has a consensus rating of "Moderate Buy" and an average target price of $35.11.

StandardAero Stock Performance

NYSE SARO traded up $0.17 during trading hours on Friday, hitting $29.00. The company had a trading volume of 2,359,798 shares, compared to its average volume of 2,277,162. StandardAero has a 1-year low of $21.31 and a 1-year high of $34.38. The business has a 50 day moving average of $26.85 and a 200-day moving average of $26.78.

StandardAero (NYSE:SARO - Get Free Report) last released its quarterly earnings data on Monday, May 12th. The company reported $0.19 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.17 by $0.02. The company had revenue of $1.44 billion during the quarter, compared to analyst estimates of $1.51 billion. The business's revenue was up 16.2% compared to the same quarter last year. As a group, analysts expect that StandardAero will post 0.29 earnings per share for the current year.

Insider Activity at StandardAero

In other StandardAero news, major shareholder Private Ltd Gic sold 5,524,862 shares of the stock in a transaction dated Friday, May 23rd. The shares were sold at an average price of $27.30, for a total value of $150,828,732.60. Following the completion of the transaction, the insider now directly owns 35,292,362 shares of the company's stock, valued at approximately $963,481,482.60. This trade represents a 13.54% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 1.90% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Carlyle Group Inc. purchased a new position in StandardAero in the fourth quarter valued at about $165,294,000. Mirae Asset Global Investments Co. Ltd. purchased a new position in StandardAero in the fourth quarter valued at about $486,000. Renaissance Capital LLC purchased a new position in StandardAero in the fourth quarter valued at about $3,992,000. Jennison Associates LLC purchased a new position in StandardAero in the fourth quarter valued at about $23,063,000. Finally, JPMorgan Chase & Co. purchased a new position in shares of StandardAero during the 4th quarter worth approximately $5,226,000.

About StandardAero

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.