StandardAero’s (SARO) Buy Rating Reiterated at BTIG Research

BTIG Research reissued their buy rating on shares of StandardAero (NYSE:SARO) in a research note issued to investors on Monday,Benzinga reports. The firm currently has a $35.00 target price on the stock.

SARO has been the subject of several other research reports. Bank of America reduced their target price on shares of StandardAero from $35.00 to $27.00 and set a “neutral” rating for the company in a report on Thursday, September 17th. Morgan Stanley set a $33.00 price target on shares of StandardAero in a report on Monday, August 10th. Canadian Imperial Bank of Commerce cut their price target on StandardAero from $38.00 to $35.00 and set an “outperformer” rating on the stock in a research report on Monday, October 26th. Weiss Ratings lowered StandardAero from a “hold (c)” rating to a “hold (c-)” rating in a research note on Friday, September 11th. Finally, Susquehanna reiterated a “negative” rating on shares of StandardAero in a research note on Thursday, October 1st. Two 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 data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $33.55.

StandardAero Stock Performance

SARO opened at $28.66 on Monday. StandardAero has a 12-month low of $19.56 and a 12-month high of $34.48. The company has a current ratio of 2.26, a quick ratio of 1.74 and a debt-to-equity ratio of 0.87. The firm has a market capitalization of $9.41 billion, a PE ratio of 27.29 and a beta of 0.82. The firm has a 50 day moving average of $22.94 and a two-hundred day moving average of $26.48.

StandardAero (NYSE:SARO) last announced its quarterly earnings data on Thursday, November 5th. The company reported $0.39 EPS for the quarter, beating the consensus estimate of $0.38 by $0.01. The business had revenue of $1.56 billion during the quarter, compared to analysts’ expectations of $1.56 billion. StandardAero had a net margin of 5.46% and a return on equity of 16.27%. The business’s quarterly revenue was up 4.0% compared to the same quarter last year. During the same period in the previous year, the business posted $0.20 EPS. On average, analysts anticipate that StandardAero will post 1.50 EPS for the current year.

Institutional Trading of StandardAero

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. MassMutual Private Wealth & Trust FSB increased its holdings in StandardAero by 72.7% in the third quarter. MassMutual Private Wealth & Trust FSB now owns 1,290 shares of the company’s stock valued at $28,000 after buying an additional 543 shares in the last quarter. Global Retirement Partners LLC raised its position in shares of StandardAero by 117.8% in the third quarter. Global Retirement Partners LLC now owns 1,640 shares of the company’s stock worth $35,000 after acquiring an additional 887 shares during the period. CX Institutional acquired a new position in shares of StandardAero in the third quarter worth about $36,000. Northwestern Mutual Wealth Management Co. purchased a new stake in shares of StandardAero during the 2nd quarter worth about $55,000. Finally, Optiver Holding B.V. purchased a new stake in shares of StandardAero during the 1st quarter worth about $51,000.

About StandardAero

StandardAero is a provider of maintenance, repair and overhaul services for the aerospace and aviation industries. Its work includes servicing and repairing aircraft engines, airframes and related components, as well as providing engineering and other technical support. The company serves customers across business and general aviation, commercial aviation, military and helicopter markets. Its services support aircraft operators, airlines, original equipment manufacturers and government organizations, with operations and facilities serving customers in multiple regions worldwide.