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

StandardAero (NYSE:SARO) had its target price boosted by stock analysts at UBS Group from $25.00 to $30.00 in a research note issued to investors on Tuesday, Marketbeat.com reports. The brokerage presently has a “neutral” rating on the stock. UBS Group’s price objective indicates a potential downside of 0.56% from the company’s previous close.

Separately, Morgan Stanley cut their price target 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 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. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $35.11.

StandardAero Stock Performance

Shares of StandardAero stock opened at $30.17 on Tuesday. StandardAero has a twelve month low of $21.31 and a twelve month high of $34.38. The business has a 50-day moving average price of $26.76 and a 200 day moving average price of $26.81.

StandardAero (NYSE:SARO) last announced its quarterly earnings results on Monday, May 12th. The company reported $0.19 earnings per share for the quarter, beating the consensus estimate of $0.17 by $0.02. The business had revenue of $1.44 billion during the quarter, compared to analysts’ expectations of $1.51 billion. The business’s revenue was up 16.2% on a year-over-year basis. As a group, equities analysts expect that StandardAero will post 0.29 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, major shareholder Private Ltd Gic sold 6,629,834 shares of the company’s stock in a transaction that occurred on 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 completion of the sale, the insider now directly owns 40,817,224 shares in the company, 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 at this link. 1.90% of the stock is owned by company insiders.

Hedge Funds Weigh In On StandardAero

A number of institutional investors and hedge funds have recently added to or reduced their stakes in SARO. Corebridge Financial Inc. increased its stake in shares of StandardAero by 46.8% in the 1st quarter. Corebridge Financial Inc. now owns 1,079 shares of the company’s stock worth $29,000 after acquiring an additional 344 shares during the last quarter. GAMMA Investing LLC grew 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 period. Cerity Partners LLC grew 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 period. Comerica Bank acquired a new stake in StandardAero during the first quarter worth about $26,000. Finally, Bessemer Group Inc. acquired a new stake in StandardAero during the fourth quarter worth about $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.