StandardAero (NYSE:SARO) Upgraded to Hold at Zacks Research

Zacks Research upgraded shares of StandardAero (NYSE:SARO) from a strong sell rating to a hold rating in a research report released on Wednesday,Zacks.com reports.

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

StandardAero Stock Performance

SARO traded up $0.06 during midday trading on Wednesday, hitting $25.64. 2,129,666 shares of the company traded hands, compared to its average volume of 2,182,075. The company’s 50-day moving average is $27.40 and its 200 day moving average is $28.35. 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 firm has a market capitalization of $8.57 billion and a PE ratio of 46.61. StandardAero has a 52 week low of $21.31 and a 52 week high of $31.97.

StandardAero (NYSE:SARO) last posted its quarterly earnings data on Monday, November 10th. The company reported $0.20 EPS for the quarter, meeting analysts’ consensus estimates of $0.20. StandardAero had a return on equity of 9.63% and a net margin of 3.15%.The company had revenue of $1.50 billion during the quarter, compared to analysts’ expectations of $1.43 billion. During the same quarter in the prior year, the business earned $0.06 earnings per share. StandardAero’s revenue for the quarter was up 20.4% compared to the same quarter last year. On average, research analysts expect that StandardAero will post 0.29 EPS for the current year.

Insider Activity at StandardAero

In other news, insider Alex Trapp sold 73,718 shares of StandardAero 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 owned 16,908 shares of the company’s stock, valued at $474,438.48. The trade was a 81.34% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Over the last three months, insiders sold 90,626 shares of company stock valued at $2,554,051. Insiders own 1.90% of the company’s stock.

Hedge Funds Weigh In On StandardAero

A number of large investors have recently made changes to their positions in the business. Carlyle Group Inc. boosted its position in shares of StandardAero by 13.6% in the 2nd quarter. Carlyle Group Inc. now owns 152,673,891 shares of the company’s stock worth $4,832,129,000 after purchasing an additional 18,321,061 shares in the last quarter. Vanguard Group Inc. raised its stake in StandardAero by 0.9% in the third quarter. Vanguard Group Inc. now owns 11,210,370 shares of the company’s stock valued at $305,931,000 after buying an additional 95,801 shares during the last quarter. Wellington Management Group LLP raised its stake in StandardAero by 18.2% in the third quarter. Wellington Management Group LLP now owns 10,345,564 shares of the company’s stock valued at $282,330,000 after buying an additional 1,593,347 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its holdings in StandardAero by 6.1% in the third quarter. Allspring Global Investments Holdings LLC now owns 9,073,068 shares of the company’s stock worth $249,056,000 after acquiring an additional 524,455 shares in the last quarter. Finally, T. Rowe Price Investment Management Inc. grew its stake in shares of StandardAero by 29.2% during the first quarter. T. Rowe Price Investment Management Inc. now owns 8,418,195 shares of the company’s stock worth $224,261,000 after acquiring an additional 1,902,687 shares during the last quarter.

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.