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

StandardAero (NYSE:SARO) had its target price dropped by research analysts at Bank of America from $33.00 to $30.00 in a research note issued to investors on Friday,Benzinga reports. The brokerage currently has a “neutral” rating on the stock. Bank of America‘s price objective suggests a potential upside of 17.50% from the stock’s current price.

Several other analysts have also recently issued reports on SARO. Weiss Ratings raised shares of StandardAero from a “sell (d+)” rating to a “hold (c)” rating in a research report on Tuesday. Barclays began coverage on shares of StandardAero in a research report on Friday, September 12th. They issued an “equal weight” rating and a $32.00 price target for the company. Zacks Research upgraded shares of StandardAero from a “strong sell” rating to a “hold” rating in a research note on Wednesday. Wall Street Zen cut StandardAero from a “buy” rating to a “hold” rating in a research note on Saturday, October 11th. Finally, Susquehanna started coverage on StandardAero in a report on Wednesday, September 17th. They issued a “positive” rating and a $34.00 target price for the company. Two equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $32.43.

StandardAero Trading Down 0.2%

Shares of SARO traded down $0.05 during midday trading on Friday, hitting $25.53. 753,174 shares of the stock were exchanged, compared to its average volume of 2,175,007. StandardAero has a 52-week low of $21.31 and a 52-week high of $31.97. The company has a debt-to-equity ratio of 0.89, a quick ratio of 1.49 and a current ratio of 2.18. The stock has a fifty day simple moving average of $27.40 and a 200 day simple moving average of $28.35. The firm has a market cap of $8.54 billion and a P/E ratio of 46.48.

StandardAero (NYSE:SARO) last posted its quarterly earnings data on Monday, November 10th. The company reported $0.20 earnings per share (EPS) for the quarter, meeting 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 for the quarter, compared to the consensus estimate of $1.43 billion. During the same quarter in the previous year, the business earned $0.06 EPS. The company’s quarterly revenue was up 20.4% compared to the same quarter last year. On average, research analysts anticipate that StandardAero will post 0.29 EPS for the current fiscal year.

Insider Buying and Selling

In other StandardAero news, insider Alex Trapp sold 73,718 shares of the firm’s stock in a transaction on Thursday, September 18th. The stock was sold at an average price of $28.06, for a total value of $2,068,527.08. Following the sale, the insider directly owned 16,908 shares in the company, valued at $474,438.48. This trade represents a 81.34% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders sold a total of 90,626 shares of company stock valued at $2,554,051 over the last 90 days. Corporate insiders own 1.90% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the business. Carlyle Group Inc. raised its position in shares of StandardAero by 13.6% during the 2nd quarter. Carlyle Group Inc. now owns 152,673,891 shares of the company’s stock worth $4,832,129,000 after acquiring an additional 18,321,061 shares in the last quarter. Vanguard Group Inc. increased its stake in StandardAero by 0.9% in the third quarter. Vanguard Group Inc. now owns 11,210,370 shares of the company’s stock valued at $305,931,000 after purchasing an additional 95,801 shares during the last quarter. Wellington Management Group LLP increased its stake in StandardAero by 18.2% in the third quarter. Wellington Management Group LLP now owns 10,345,564 shares of the company’s stock valued at $282,330,000 after purchasing an additional 1,593,347 shares during the last quarter. Allspring Global Investments Holdings LLC raised its holdings in StandardAero by 6.1% during the third quarter. Allspring Global Investments Holdings LLC now owns 9,073,068 shares of the company’s stock worth $249,056,000 after purchasing an additional 524,455 shares in the last quarter. Finally, T. Rowe Price Investment Management Inc. lifted its position in shares of StandardAero by 29.2% during the 1st quarter. T. Rowe Price Investment Management Inc. now owns 8,418,195 shares of the company’s stock worth $224,261,000 after buying an additional 1,902,687 shares during the last quarter.

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.