StandardAero (NYSE:SARO) Price Target Raised to $40.00

StandardAero (NYSE:SARO) had its price objective lifted by JPMorgan Chase & Co. from $38.00 to $40.00 in a report published on Monday morning,Benzinga reports. The brokerage currently has an overweight rating on the stock.

A number of other equities research analysts have also issued reports on SARO. Jefferies Financial Group lowered shares of StandardAero from a “buy” rating to a “hold” rating and reduced their target price for the stock from $34.00 to $30.00 in a report on Tuesday, June 2nd. Truist Financial raised StandardAero to a “strong-buy” rating in a research report on Friday, May 1st. Weiss Ratings upgraded StandardAero from a “hold (c-)” rating to a “hold (c)” rating in a research note on Monday, June 29th. Wall Street Zen lowered StandardAero from a “buy” rating to a “hold” rating in a report on Sunday, May 17th. Finally, UBS Group upped their price target on StandardAero from $35.00 to $36.00 and gave the stock a “buy” rating in a report on Friday, August 7th. Two equities research analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and six have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $34.77.

StandardAero Trading Down 2.5%

Shares of SARO stock opened at $27.49 on Monday. The company has a debt-to-equity ratio of 0.84, a quick ratio of 1.59 and a current ratio of 2.13. The stock has a market capitalization of $9.10 billion, a P/E ratio of 28.34 and a beta of 0.92. The company has a 50 day moving average price of $28.06 and a 200 day moving average price of $27.91. StandardAero has a fifty-two week low of $23.83 and a fifty-two week high of $34.48.

Insider Buying and Selling

In other StandardAero news, CEO Russell Wayne Ford sold 40,000 shares of the stock in a transaction that occurred on Monday, July 6th. The shares were sold at an average price of $30.44, for a total value of $1,217,600.00. Following the sale, the chief executive officer directly owned 486,955 shares of the company’s stock, valued at approximately $14,822,910.20. This represents a 7.59% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. In the last ninety days, insiders have sold 191,423 shares of company stock worth $5,847,760. Insiders own 2.10% of the company’s stock.

Institutional Investors Weigh In On StandardAero

Several institutional investors have recently modified their holdings of SARO. Comerica Bank purchased a new position in StandardAero in the first quarter valued at $26,000. Optiver Holding B.V. purchased a new stake in StandardAero during the 1st quarter worth about $51,000. Northwestern Mutual Wealth Management Co. purchased a new stake in StandardAero during the 2nd quarter worth about $55,000. Danske Bank A S acquired a new position in shares of StandardAero during the 3rd quarter worth about $82,000. Finally, Parallel Advisors LLC boosted its position in shares of StandardAero by 210.3% during the 4th quarter. Parallel Advisors LLC now owns 3,050 shares of the company’s stock worth $87,000 after acquiring an additional 2,067 shares in the last quarter.

StandardAero Company Profile

StandardAero is a global aerospace maintenance, repair and overhaul (MRO) provider specializing in gas turbine engines, auxiliary power units (APUs), airframe components and oil & gas rotating equipment. The company offers a full suite of technical services including engine repair and overhaul, component repair, accessory maintenance, parts manufacturing and on-site field support. Its customer base spans commercial airlines, business and general aviation operators, regional carriers, original equipment manufacturers (OEMs) and defense organizations.

With roots dating back to 1911, StandardAero has grown through strategic acquisitions and organic expansion to become one of the largest independent MRO providers in the industry.