JPMorgan Chase & Co. Forecasts Strong Price Appreciation for StandardAero (NYSE:SARO) Stock

StandardAero (NYSE:SARO) had its target price increased by equities research analysts at JPMorgan Chase & Co. from $38.00 to $40.00 in a research report issued to clients and investors on Monday,Benzinga reports. The brokerage currently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price target points to a potential upside of 41.32% from the company’s previous close.

A number of other analysts have also recently issued reports on SARO. Morgan Stanley set a $33.00 target price on StandardAero in a research note on Monday. Wall Street Zen downgraded shares of StandardAero from a “buy” rating to a “hold” rating in a research report on Sunday, May 17th. Susquehanna dropped their price objective on shares of StandardAero from $40.00 to $37.00 and set a “positive” rating on the stock in a report on Monday, May 11th. Jefferies Financial Group cut shares of StandardAero from a “buy” rating to a “hold” rating and cut their price objective for the company from $34.00 to $30.00 in a research report on Tuesday, June 2nd. Finally, Royal Bank Of Canada cut their price objective on shares of StandardAero from $37.00 to $34.00 and set an “outperform” rating on the stock in a research report on Friday, May 1st. Two research analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $34.77.

StandardAero Trading Down 3.0%

Shares of StandardAero stock traded down $0.89 during trading hours on Monday, hitting $28.30. The company’s stock had a trading volume of 1,361,019 shares, compared to its average volume of 4,139,851. The company has a market capitalization of $9.41 billion, a PE ratio of 29.19 and a beta of 0.92. The company has a debt-to-equity ratio of 0.84, a current ratio of 2.13 and a quick ratio of 1.59. The stock has a 50 day moving average of $27.93 and a 200 day moving average of $28.00. StandardAero has a 12 month low of $23.83 and a 12 month high of $34.48.

StandardAero (NYSE:SARO) last released its quarterly earnings data on Thursday, May 7th. The company reported $0.33 earnings per share for the quarter, beating the consensus estimate of $0.30 by $0.03. StandardAero had a return on equity of 14.52% and a net margin of 5.12%.The business had revenue of $1.63 billion for the quarter, compared to analysts’ expectations of $1.49 billion. During the same quarter in the previous year, the business posted $0.19 EPS. StandardAero’s revenue for the quarter was up 13.3% on a year-over-year basis. Analysts predict that StandardAero will post 1.43 earnings per share for the current year.

Insider Buying and Selling at StandardAero

In related news, CEO Russell Wayne Ford sold 40,000 shares of StandardAero stock in a transaction dated Monday, July 6th. The stock was sold at an average price of $30.44, for a total value of $1,217,600.00. Following the sale, the chief executive officer owned 486,955 shares of the company’s stock, valued at approximately $14,822,910.20. The trade was a 7.59% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In the last three months, insiders sold 170,969 shares of company stock valued at $5,222,709. 2.10% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in SARO. Carlyle Group Inc. bought a new stake in shares of StandardAero during the 2nd quarter worth approximately $2,529,998,000. BlackRock Inc. bought a new position in shares of StandardAero in the second quarter valued at $646,128,000. Allspring Global Investments Holdings LLC increased its holdings in StandardAero by 42.8% during the first quarter. Allspring Global Investments Holdings LLC now owns 15,081,516 shares of the company’s stock worth $395,890,000 after buying an additional 4,523,693 shares during the last quarter. Price T Rowe Associates Inc. MD raised its position in StandardAero by 33.8% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 14,000,143 shares of the company’s stock worth $401,525,000 after acquiring an additional 3,540,167 shares in the last quarter. Finally, Janus Henderson Group PLC lifted its stake in StandardAero by 7.3% in the first quarter. Janus Henderson Group PLC now owns 12,040,337 shares of the company’s stock valued at $311,002,000 after acquiring an additional 816,276 shares during 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.