StandardAero (NYSE:SARO) Stock Rating Upgraded by Zacks Research

StandardAero (NYSE:SARO) was upgraded by Zacks Research from a “strong sell” rating to a “hold” rating in a research note issued on Wednesday,Zacks.com reports.

SARO has been the subject of several other research reports. Wall Street Zen cut StandardAero from a “buy” rating to a “hold” rating in a report on Saturday, October 11th. Truist Financial started coverage on StandardAero in a report on Friday, October 10th. They set a “buy” rating and a $35.00 target price on the stock. Weiss Ratings upgraded StandardAero from a “sell (d+)” rating to a “hold (c)” rating in a research note on Tuesday. Susquehanna assumed coverage on StandardAero in a report on Wednesday, September 17th. They issued a “positive” rating and a $34.00 price objective for the company. Finally, Barclays started coverage on shares of StandardAero in a report on Friday, September 12th. They set an “equal weight” rating and a $32.00 target price on the stock. Two research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $32.43.

StandardAero Price Performance

Shares of NYSE SARO opened at $25.66 on Wednesday. The firm has a market capitalization of $8.58 billion and a P/E ratio of 46.65. The company has a quick ratio of 1.49, a current ratio of 2.18 and a debt-to-equity ratio of 0.89. The stock’s 50-day simple moving average is $27.40 and its two-hundred day simple moving average is $28.35. StandardAero has a twelve month low of $21.31 and a twelve month high of $31.97.

StandardAero (NYSE:SARO) last released its quarterly earnings results on Monday, November 10th. The company reported $0.20 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.20. The business had revenue of $1.50 billion for the quarter, compared to the consensus estimate of $1.43 billion. StandardAero had a return on equity of 9.63% and a net margin of 3.15%.The company’s revenue for the quarter was up 20.4% on a year-over-year basis. During the same quarter last year, the business posted $0.06 earnings per share. As a group, equities analysts anticipate that StandardAero will post 0.29 EPS for the current fiscal year.

Insider Transactions at StandardAero

In other StandardAero news, insider Alex Trapp sold 73,718 shares of the stock in a transaction that occurred on Thursday, September 18th. The shares were sold at an average price of $28.06, for a total value of $2,068,527.08. Following the transaction, the insider directly owned 16,908 shares in the company, valued at approximately $474,438.48. This trade represents a 81.34% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders sold 90,626 shares of company stock valued at $2,554,051 over the last 90 days. Company insiders own 1.90% of the company’s stock.

Institutional Trading of StandardAero

Several institutional investors and hedge funds have recently modified their holdings of SARO. Jump Financial LLC bought a new position in StandardAero in the 3rd quarter worth $6,037,000. Invesco Ltd. boosted its stake in StandardAero by 36.5% in the 3rd quarter. Invesco Ltd. now owns 3,081,906 shares of the company’s stock worth $84,105,000 after purchasing an additional 824,275 shares during the period. Sei Investments Co. grew its stake in StandardAero by 18.4% during the third quarter. Sei Investments Co. now owns 744,376 shares of the company’s stock valued at $20,314,000 after acquiring an additional 115,630 shares in the last quarter. UBS Group AG increased its holdings in StandardAero by 5.3% in the 3rd quarter. UBS Group AG now owns 796,726 shares of the company’s stock valued at $21,743,000 after acquiring an additional 40,187 shares during the last quarter. Finally, BNP Paribas Financial Markets lifted its stake in StandardAero by 17.2% in the 3rd quarter. BNP Paribas Financial Markets now owns 762,241 shares of the company’s stock worth $20,802,000 after purchasing an additional 111,753 shares in the last quarter.

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.