StandardAero (NYSE:SARO) Stock Rating Lowered by Wall Street Zen

StandardAero (NYSE:SARO) was downgraded by equities researchers at Wall Street Zen from a “buy” rating to a “hold” rating in a report released on Saturday.

SARO has been the topic of a number of other reports. UBS Group lifted their price objective on shares of StandardAero from $25.00 to $30.00 and gave the company a “neutral” rating in a report on Tuesday, May 13th. Morgan Stanley lowered their price objective on shares of StandardAero from $33.00 to $32.00 and set an “equal weight” rating on the stock in a report on Friday, March 14th. Four research analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $35.11.

StandardAero Trading Down 1.3%

NYSE SARO opened at $30.38 on Friday. StandardAero has a 12-month low of $21.31 and a 12-month high of $34.38. The firm’s 50 day moving average is $27.77 and its 200-day moving average is $26.88.

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

Insider Buying and Selling

In other StandardAero 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 transaction, the insider now directly owns 40,817,224 shares in the company, valued at $1,108,595,803.84. The trade was 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 at this hyperlink. Over the last three months, insiders have 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

Institutional investors and hedge funds have recently modified their holdings of the stock. Comerica Bank acquired a new position in shares of StandardAero in the first quarter valued at $26,000. Corebridge Financial Inc. increased its holdings in shares of StandardAero by 46.8% in the first 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 increased its holdings in shares of StandardAero by 272.3% in the first 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. Bessemer Group Inc. acquired a new position in shares of StandardAero in the fourth quarter valued at $28,000. Finally, KBC Group NV acquired a new position in shares of StandardAero in the first quarter valued at $52,000.

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.