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

StandardAero (NYSE:SARO) had its target price lowered 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 presently has a “neutral” rating on the stock. Bank of America‘s price objective would indicate a potential upside of 17.03% from the company’s current price.

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

StandardAero Stock Performance

Shares of SARO stock opened at $25.64 on Friday. The company has a quick ratio of 1.49, a current ratio of 2.18 and a debt-to-equity ratio of 0.89. The company has a 50 day moving average price of $27.38 and a 200-day moving average price of $28.36. StandardAero has a 52 week low of $21.31 and a 52 week high of $31.97. The firm has a market capitalization of $8.57 billion and a PE ratio of 46.61.

StandardAero (NYSE:SARO) last issued its quarterly earnings data on Monday, November 10th. The company reported $0.20 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.20. StandardAero had a net margin of 3.15% and a return on equity of 9.63%. The company had revenue of $1.50 billion for the quarter, compared to the consensus estimate of $1.43 billion. During the same quarter in the prior year, the firm earned $0.06 earnings per share. The firm’s revenue for the quarter was up 20.4% compared to the same quarter last year. As a group, equities research analysts expect that StandardAero will post 0.29 earnings per share for the current year.

Insider Transactions at StandardAero

In related news, insider Alex Trapp sold 10,000 shares of the stock in a transaction that occurred on Wednesday, October 15th. The shares were sold at an average price of $29.21, for a total value of $292,100.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Over the last ninety days, insiders have sold 90,626 shares of company stock valued at $2,554,051. Corporate insiders own 1.90% of the company’s stock.

Hedge Funds Weigh In On StandardAero

A number of hedge funds have recently modified their holdings of SARO. Creative Planning bought a new stake in shares of StandardAero during the 3rd quarter valued at $253,000. Lazard Asset Management LLC increased its stake in StandardAero by 47.6% in the 3rd quarter. Lazard Asset Management LLC now owns 286,276 shares of the company’s stock worth $7,812,000 after buying an additional 92,365 shares in the last quarter. Amundi raised its holdings in StandardAero by 272.6% during the third quarter. Amundi now owns 358,535 shares of the company’s stock valued at $9,505,000 after acquiring an additional 262,297 shares during the period. Troluce Capital Advisors LLC bought a new stake in StandardAero during the third quarter valued at about $17,056,000. Finally, California State Teachers Retirement System lifted its position in shares of StandardAero by 27.3% in the third quarter. California State Teachers Retirement System now owns 139,090 shares of the company’s stock valued at $3,796,000 after acquiring an additional 29,861 shares in 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.