Bank of America Has Lowered Expectations for StandardAero (NYSE:SARO) Stock Price

StandardAero (NYSE:SARO) had its target price decreased by Bank of America from $34.00 to $32.00 in a report issued on Wednesday,Benzinga reports. Bank of America currently has a neutral rating on the stock.

A number of other research firms also recently commented on SARO. Wolfe Research assumed coverage on shares of StandardAero in a report on Monday, October 28th. They issued an “outperform” rating and a $34.00 price objective for the company. Cibc World Mkts raised shares of StandardAero to a “strong-buy” rating in a report on Monday, October 28th. CIBC started coverage on shares of StandardAero in a report on Monday, October 28th. They set a “sector outperform” rating and a $38.00 price target for the company. Royal Bank of Canada started coverage on shares of StandardAero in a report on Monday, October 28th. They set an “outperform” rating and a $37.00 price target for the company. Finally, Morgan Stanley initiated coverage on shares of StandardAero in a report on Monday, October 28th. They set an “equal weight” rating and a $33.00 price target for the company. Three investment analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $35.67.

StandardAero Stock Performance

SARO opened at $28.66 on Wednesday. The firm’s 50 day moving average price is $30.12. StandardAero has a 52-week low of $26.78 and a 52-week high of $34.38.

Insiders Place Their Bets

In other news, major shareholder Private Ltd Gic sold 2,900,552 shares of the company’s stock in a transaction that occurred on Thursday, October 3rd. The stock was sold at an average price of $22.74, for a total transaction of $65,958,552.48. Following the completion of the transaction, the insider now directly owns 47,447,058 shares in the company, valued at $1,078,946,098.92. The trade was a 5.76 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

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.