Analysts Set StandardAero, Inc. (NYSE:SARO) Price Target at $34.89

Shares of StandardAero, Inc. (NYSE:SARO) have received a consensus rating of “Moderate Buy” from the ten research firms that are presently covering the firm, Marketbeat reports. Three investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating on the company. The average 12 month price objective among brokers that have covered the stock in the last year is $34.89.

SARO has been the topic of several recent research reports. UBS Group increased their price objective on shares of StandardAero from $27.00 to $28.00 and gave the stock a “neutral” rating in a research note on Tuesday, March 11th. Morgan Stanley decreased their price target 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.

StandardAero Stock Up 2.7 %

NYSE:SARO opened at $27.85 on Wednesday. StandardAero has a 12 month low of $21.31 and a 12 month high of $34.38. The company has a 50 day simple moving average of $26.60 and a two-hundred day simple moving average of $26.99.

StandardAero (NYSE:SARO) last released its quarterly earnings results on Monday, March 10th. The company reported ($0.04) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.16 by ($0.20). The firm had revenue of $1.41 billion during the quarter, compared to analysts’ expectations of $1.37 billion. The company’s quarterly revenue was up 21.8% compared to the same quarter last year. As a group, equities analysts forecast that StandardAero will post 0.29 earnings per share for the current year.

Insider Buying and Selling at StandardAero

In other 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 transaction of $180,066,291.44. Following the completion of 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 sale was disclosed in a document filed with the SEC, which is available at the SEC website.

Hedge Funds Weigh In On StandardAero

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Bessemer Group Inc. bought a new position in shares of StandardAero during the 4th quarter valued at approximately $28,000. GAMMA Investing LLC grew its stake in shares of StandardAero by 272.3% in the 1st quarter. GAMMA Investing LLC now owns 1,128 shares of the company’s stock worth $30,000 after buying an additional 825 shares in the last quarter. R Squared Ltd bought a new stake in shares of StandardAero in the 4th quarter worth about $39,000. KBC Group NV purchased a new stake in shares of StandardAero during the 1st quarter valued at about $52,000. Finally, MetLife Investment Management LLC bought a new position in shares of StandardAero in the 4th quarter valued at about $54,000.

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.