UBS Group Forecasts Strong Price Appreciation for StandardAero (NYSE:SARO) Stock

StandardAero (NYSE:SARO) had its price objective increased by UBS Group from $25.00 to $30.00 in a research note issued to investors on Tuesday,Benzinga reports. The firm currently has a neutral rating on the stock.

Separately, Morgan Stanley dropped their price objective on 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 equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, StandardAero presently has a consensus rating of “Moderate Buy” and a consensus price target of $35.11.

StandardAero Stock Performance

Shares of NYSE SARO opened at $29.86 on Tuesday. The business has a fifty day simple moving average of $26.69 and a 200 day simple moving average of $26.79. StandardAero has a one year low of $21.31 and a one year high of $34.38.

StandardAero (NYSE:SARO) last released its quarterly earnings data 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 company had revenue of $1.44 billion for the quarter, compared to analyst estimates of $1.51 billion. The company’s quarterly revenue was up 16.2% compared to the same quarter last year. Analysts predict that StandardAero will post 0.29 earnings per share for the current year.

Insider Transactions at StandardAero

In related news, major shareholder Private Ltd Gic sold 6,629,834 shares of the firm’s stock in a transaction dated Thursday, March 27th. The stock was sold at an average price of $27.16, for a total value of $180,066,291.44. Following the transaction, the insider now owns 40,817,224 shares in the company, valued at $1,108,595,803.84. This trade represents a 13.97% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 1.90% of the company’s stock.

Hedge Funds Weigh In On StandardAero

Several hedge funds have recently added to or reduced their stakes in SARO. R Squared Ltd bought a new position in StandardAero in the fourth quarter valued at about $39,000. Jennison Associates LLC bought a new position in StandardAero in the fourth quarter valued at about $23,063,000. Renaissance Capital LLC bought a new position in StandardAero in the fourth quarter valued at about $3,992,000. Mirae Asset Global Investments Co. Ltd. bought a new position in StandardAero during the fourth quarter worth about $486,000. Finally, Sumitomo Mitsui Trust Group Inc. bought a new position in StandardAero during the fourth quarter worth about $224,000.

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.