StandardAero (NYSE:SARO) Price Target Raised to $30.00 at UBS Group

StandardAero (NYSE:SARO) had its price target upped by UBS Group from $25.00 to $30.00 in a report issued on Tuesday,Benzinga reports. UBS Group currently has a neutral rating on the stock.

Separately, Morgan Stanley decreased their target price on shares of StandardAero from $33.00 to $32.00 and set an “equal weight” rating on the stock in a research report on Friday, March 14th. Three research analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, StandardAero currently has an average rating of “Moderate Buy” and an average price target of $35.11.

StandardAero Stock Up 4.4%

StandardAero stock opened at $29.86 on Tuesday. The firm’s 50-day moving average is $26.69 and its two-hundred day moving average is $26.79. StandardAero has a 12-month low of $21.31 and a 12-month high of $34.38.

StandardAero (NYSE:SARO) last released its earnings results 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 during the quarter, compared to analyst estimates of $1.51 billion. StandardAero’s revenue was up 16.2% compared to the same quarter last year. On average, research analysts anticipate that StandardAero will post 0.29 EPS for the current fiscal year.

Insiders Place Their Bets

In other StandardAero news, major shareholder Private Ltd Gic sold 6,629,834 shares of the business’s 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 sale, the insider now owns 40,817,224 shares in the company, valued at approximately $1,108,595,803.84. The trade was a 13.97% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.90% of the stock is owned by company insiders.

Hedge Funds Weigh In On StandardAero

Several institutional investors and hedge funds have recently bought and sold shares of the business. R Squared Ltd acquired a new stake in shares of StandardAero in the 4th quarter valued at $39,000. Jennison Associates LLC bought a new stake in StandardAero during the fourth quarter worth approximately $23,063,000. Renaissance Capital LLC bought a new stake in shares of StandardAero in the fourth quarter valued at approximately $3,992,000. Mirae Asset Global Investments Co. Ltd. bought a new stake in shares of StandardAero in the fourth quarter valued at approximately $486,000. Finally, Sumitomo Mitsui Trust Group Inc. bought a new stake in shares of StandardAero in the fourth quarter valued at approximately $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.