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

StandardAero (NYSE:SARO) had its price objective boosted by UBS Group from $25.00 to $30.00 in a report released on Tuesday morning, MarketBeat.com reports. They currently have a neutral rating on the stock.

Separately, Morgan Stanley reduced their target price 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. Three research analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $35.11.

StandardAero Trading Down 0.0%

StandardAero stock opened at $30.19 on Tuesday. The firm’s 50-day simple moving average is $26.84 and its 200 day simple moving average is $26.81. StandardAero has a 52 week low of $21.31 and a 52 week 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, beating analysts’ consensus estimates of $0.17 by $0.02. The firm had revenue of $1.44 billion during the quarter, compared to analysts’ expectations of $1.51 billion. The business’s revenue for the quarter was up 16.2% on a year-over-year basis. As a group, sell-side analysts predict that StandardAero will post 0.29 EPS for the current fiscal year.

Insider Activity

In related news, major shareholder Private Ltd Gic sold 6,629,834 shares of the stock in a transaction that occurred on 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 completion of the sale, the insider now owns 40,817,224 shares of the company’s stock, valued at approximately $1,108,595,803.84. This represents a 13.97% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 1.90% of the company’s stock.

Institutional Trading of StandardAero

Institutional investors and hedge funds have recently bought and sold shares of the business. Carlyle Group Inc. acquired a new stake in StandardAero during the 4th quarter worth approximately $165,294,000. Mirae Asset Global Investments Co. Ltd. acquired a new stake in StandardAero during the 4th quarter worth approximately $486,000. Renaissance Capital LLC acquired a new stake in StandardAero during the 4th quarter worth approximately $3,992,000. Jennison Associates LLC acquired a new stake in StandardAero during the 4th quarter worth approximately $23,063,000. Finally, JPMorgan Chase & Co. acquired a new stake in StandardAero during the 4th quarter worth approximately $5,226,000.

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.