StandardAero (NYSE:SARO) Given New $30.00 Price Target at Bank of America

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

A number of other analysts also recently commented on the stock. Weiss Ratings raised shares of StandardAero from a “sell (d+)” rating to a “hold (c)” rating in a report on Tuesday. Truist Financial initiated coverage on shares of StandardAero in a research report on Friday, October 10th. They set a “buy” rating and a $35.00 price target for the company. Wall Street Zen cut StandardAero from a “buy” rating to a “hold” rating in a report on Saturday, October 11th. Susquehanna started coverage on StandardAero in a report on Wednesday, September 17th. They set a “positive” rating and a $34.00 price objective for the company. Finally, Barclays initiated coverage on StandardAero in a research report on Friday, September 12th. They set an “equal weight” rating and a $32.00 target price on the stock. Two analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat, StandardAero has a consensus rating of “Hold” and a consensus price target of $32.43.

StandardAero Price Performance

Shares of SARO traded up $0.06 during mid-day trading on Friday, hitting $25.64. The company’s stock had a trading volume of 2,129,666 shares, compared to its average volume of 1,699,817. The company has a current ratio of 2.18, a quick ratio of 1.49 and a debt-to-equity ratio of 0.89. StandardAero has a 1-year low of $21.31 and a 1-year high of $31.97. The firm has a market capitalization of $8.57 billion and a P/E ratio of 46.61. The firm has a 50-day simple moving average of $27.38 and a 200 day simple moving average of $28.35.

StandardAero (NYSE:SARO) last released its quarterly earnings data on Monday, November 10th. The company reported $0.20 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.20. StandardAero had a return on equity of 9.63% and a net margin of 3.15%.The firm had revenue of $1.50 billion during the quarter, compared to analysts’ expectations of $1.43 billion. During the same quarter in the prior year, the business posted $0.06 earnings per share. StandardAero’s revenue was up 20.4% compared to the same quarter last year. Analysts predict that StandardAero will post 0.29 EPS for the current fiscal year.

Insider Buying and Selling

In related news, insider Alex Trapp sold 10,000 shares of the business’s stock in a transaction dated Wednesday, October 15th. The shares were sold at an average price of $29.21, for a total value of $292,100.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In the last three months, insiders sold 90,626 shares of company stock worth $2,554,051. Company insiders own 1.90% of the company’s stock.

Hedge Funds Weigh In On StandardAero

Institutional investors have recently added to or reduced their stakes in the business. Corebridge Financial Inc. increased its stake in shares of StandardAero by 46.8% during the 1st quarter. Corebridge Financial Inc. now owns 1,079 shares of the company’s stock valued at $29,000 after acquiring an additional 344 shares during the last quarter. Cerity Partners LLC raised its stake in StandardAero by 0.6% during the second quarter. Cerity Partners LLC now owns 69,758 shares of the company’s stock worth $2,208,000 after purchasing an additional 416 shares during the period. First Horizon Advisors Inc. boosted its holdings in shares of StandardAero by 100.4% in the 2nd 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. KBC Group NV grew its stake in shares of StandardAero by 32.2% during the 2nd quarter. KBC Group NV now owns 2,605 shares of the company’s stock valued at $82,000 after buying an additional 635 shares during the period. Finally, PNC Financial Services Group Inc. increased its holdings in shares of StandardAero by 20.5% during the 3rd quarter. PNC Financial Services Group Inc. now owns 4,411 shares of the company’s stock worth $120,000 after buying an additional 751 shares during the last quarter.

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.