StandardAero, Inc. (NYSE:SARO) Receives $34.89 Consensus Target Price from Analysts

StandardAero, Inc. (NYSE:SARO) has received a consensus recommendation of “Moderate Buy” from the ten research firms that are presently covering the company, MarketBeat reports. Three analysts have rated the stock with a hold recommendation, six have given a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year target price among brokers that have covered the stock in the last year is $34.89.

Several brokerages recently commented on SARO. 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 report on Friday, March 14th. UBS Group raised their price objective on shares of StandardAero from $27.00 to $28.00 and gave the stock a “neutral” rating in a research report on Tuesday, March 11th.

Insider Activity at StandardAero

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

Hedge Funds Weigh In On StandardAero

Several large investors have recently modified their holdings of the business. R Squared Ltd bought a new position in StandardAero in the 4th quarter worth approximately $39,000. Jennison Associates LLC bought a new position in shares of StandardAero in the fourth quarter worth $23,063,000. Renaissance Capital LLC purchased a new position in shares of StandardAero in the fourth quarter valued at $3,992,000. Mirae Asset Global Investments Co. Ltd. bought a new stake in shares of StandardAero during the 4th quarter valued at $486,000. Finally, Sumitomo Mitsui Trust Group Inc. purchased a new stake in StandardAero during the 4th quarter worth about $224,000.

StandardAero Trading Down 1.6 %

NYSE SARO opened at $27.23 on Wednesday. StandardAero has a 12 month low of $21.31 and a 12 month high of $34.38. The business’s 50-day moving average price is $26.60 and its two-hundred day moving average price is $26.89.

StandardAero (NYSE:SARO) last issued its quarterly earnings results on Monday, March 10th. The company reported ($0.04) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.16 by ($0.20). The firm had revenue of $1.41 billion for the quarter, compared to analysts’ expectations of $1.37 billion. The business’s quarterly revenue was up 21.8% on a year-over-year basis. As a group, sell-side analysts anticipate that StandardAero will post 0.29 earnings per share for the current year.

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.