Cibc World Mkts Upgrades StandardAero (NYSE:SARO) to Strong-Buy

Cibc World Mkts upgraded shares of StandardAero (NYSE:SARO) to a strong-buy rating in a research report released on Monday, Zacks.com reports.

A number of other research firms also recently issued reports on SARO. CIBC initiated coverage on shares of StandardAero in a report on Monday. They set a “sector outperform” rating and a $38.00 price objective for the company. Bank of America began coverage on StandardAero in a research note on Monday. They set a “neutral” rating and a $34.00 price target for the company. Morgan Stanley started coverage on StandardAero in a research report on Monday. They set an “equal weight” rating and a $33.00 price objective on the stock. Jefferies Financial Group assumed coverage on StandardAero in a research note on Monday. They issued a “buy” rating and a $38.00 target price for the company. Finally, Royal Bank of Canada began coverage on shares of StandardAero in a research report on Monday. They set an “outperform” rating and a $37.00 price target on the stock. Three analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, StandardAero presently has a consensus rating of “Moderate Buy” and a consensus price target of $35.89.

StandardAero Price Performance

Shares of SARO opened at $29.39 on Monday. StandardAero has a 1-year low of $28.41 and a 1-year high of $34.38.

Insider Activity at StandardAero

In other news, major shareholder Private Ltd Gic sold 2,900,552 shares of the stock in a transaction dated Thursday, October 3rd. The shares were sold at an average price of $22.74, for a total transaction of $65,958,552.48. Following the completion of the sale, the insider now directly owns 47,447,058 shares in the company, valued at approximately $1,078,946,098.92. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

StandardAero Company Profile

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.