Bank of America Cuts StandardAero (NYSE:SARO) Price Target to $30.00

StandardAero (NYSE:SARO) had its target price cut by Bank of America from $33.00 to $30.00 in a research report sent to investors on Friday morning,Benzinga reports. They currently have a neutral rating on the stock.

SARO has been the subject of a number of other reports. Zacks Research upgraded shares of StandardAero from a “strong sell” rating to a “hold” rating in a research note on Wednesday, November 12th. Truist Financial assumed coverage on StandardAero in a research report on Friday, October 10th. They issued a “buy” rating and a $35.00 price target for the company. Barclays started coverage on StandardAero in a research note on Friday, September 12th. They set an “equal weight” rating and a $32.00 price objective on the stock. Susquehanna started coverage on StandardAero in a research note on Wednesday, September 17th. They issued a “positive” rating and a $34.00 target price for the company. Finally, Weiss Ratings upgraded StandardAero from a “sell (d+)” rating to a “hold (c)” rating in a research report on Tuesday, November 11th. 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 has a consensus rating of “Hold” and a consensus price target of $32.43.

StandardAero Trading Up 0.2%

Shares of SARO opened at $25.64 on Friday. StandardAero has a fifty-two week low of $21.31 and a fifty-two week high of $31.97. The business has a 50-day moving average of $27.38 and a 200 day moving average of $28.37. The firm has a market cap of $8.57 billion and a P/E ratio of 46.61. The company has a debt-to-equity ratio of 0.89, a quick ratio of 1.48 and a current ratio of 2.18.

StandardAero (NYSE:SARO) last issued its earnings results on Monday, November 10th. The company reported $0.20 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.20. StandardAero had a net margin of 3.15% and a return on equity of 9.63%. The firm had revenue of $1.50 billion during the quarter, compared to analyst estimates of $1.43 billion. During the same quarter last year, the business earned $0.06 earnings per share. The company’s quarterly revenue was up 20.4% on a year-over-year basis. As a group, research analysts forecast that StandardAero will post 0.29 EPS for the current year.

Insider Buying and Selling

In other news, insider Alex Trapp sold 73,718 shares of the stock in a transaction dated Thursday, September 18th. The stock was sold at an average price of $28.06, for a total transaction of $2,068,527.08. Following the transaction, the insider directly owned 16,908 shares in the company, valued at approximately $474,438.48. This represents a 81.34% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders sold a total of 90,626 shares of company stock valued at $2,554,051 over the last quarter.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in SARO. Comerica Bank bought a new position in shares of StandardAero during the 1st quarter valued at $26,000. State of Wyoming bought a new stake in shares of StandardAero in the 3rd quarter valued at about $27,000. Corebridge Financial Inc. grew its position in StandardAero by 46.8% during the 1st quarter. Corebridge Financial Inc. now owns 1,079 shares of the company’s stock worth $29,000 after acquiring an additional 344 shares during the last quarter. First Horizon Advisors Inc. lifted its position in StandardAero by 100.4% in the second quarter. First Horizon Advisors Inc. now owns 1,016 shares of the company’s stock valued at $32,000 after purchasing an additional 509 shares during the last quarter. Finally, First Horizon Corp bought a new position in shares of StandardAero in the third quarter worth approximately $34,000.

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.