StandardAero (NYSE:SARO) Upgraded by Wall Street Zen to "Buy" Rating

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

A number of other brokerages have also recently issued reports on SARO. UBS Group raised their target price on StandardAero from $25.00 to $30.00 and gave the stock a "neutral" rating in a report on Tuesday, May 13th. Morgan Stanley reduced their price objective on shares of StandardAero from $33.00 to $32.00 and set an "equal weight" rating on the stock in a research note on Friday, March 14th. Three analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, StandardAero has a consensus rating of "Moderate Buy" and a consensus target price of $35.11.

StandardAero Trading Up 1.8%

NYSE SARO traded up $0.51 during trading hours on Friday, hitting $28.67. The company's stock had a trading volume of 3,857,397 shares, compared to its average volume of 2,273,016. StandardAero has a twelve month low of $21.31 and a twelve month high of $34.38. The stock has a fifty day moving average of $26.85 and a 200 day moving average of $26.76.

StandardAero (NYSE:SARO - Get Free Report) last issued its earnings results on Monday, May 12th. The company reported $0.19 EPS for the quarter, beating the consensus estimate of $0.17 by $0.02. The business had revenue of $1.44 billion for the quarter, compared to the consensus estimate of $1.51 billion. The company's revenue for the quarter was up 16.2% on a year-over-year basis. On average, analysts predict that StandardAero will post 0.29 EPS for the current year.

Insiders Place Their Bets

In other StandardAero news, major shareholder Private Ltd Gic sold 6,629,834 shares of the stock in a transaction dated Thursday, March 27th. The stock was sold at an average price of $27.16, for a total transaction of $180,066,291.44. Following the completion of the transaction, the insider now owns 40,817,224 shares in the company, valued at approximately $1,108,595,803.84. This represents a 13.97% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 1.90% of the company's stock.

Institutional Trading of StandardAero

Institutional investors have recently modified their holdings of the company. Corebridge Financial Inc. raised its position 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 buying an additional 344 shares during the last quarter. GAMMA Investing LLC grew its stake in shares of StandardAero by 272.3% during the 1st quarter. GAMMA Investing LLC now owns 1,128 shares of the company's stock worth $30,000 after acquiring an additional 825 shares in the last quarter. Cerity Partners LLC raised its holdings in shares of StandardAero by 1.3% in the first quarter. Cerity Partners LLC now owns 69,342 shares of the company's stock valued at $1,847,000 after purchasing an additional 863 shares during the last quarter. Comerica Bank bought a new stake in shares of StandardAero in the first quarter worth $26,000. Finally, Bessemer Group Inc. acquired a new position in StandardAero during the fourth quarter worth $28,000.

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.