StandardAero (NYSE:SARO) Price Target Cut to $32.00 by Analysts at Bank of America

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

A number of other brokerages have also recently weighed in on SARO. Morgan Stanley initiated coverage on shares of StandardAero in a research report on Monday, October 28th. They set an “equal weight” rating and a $33.00 price target for the company. Jefferies Financial Group began coverage on StandardAero in a research report on Monday, October 28th. They issued a “buy” rating and a $38.00 target price on the stock. Royal Bank of Canada started coverage on StandardAero in a research report on Monday, October 28th. They set an “outperform” rating and a $37.00 price target for the company. JPMorgan Chase & Co. assumed coverage on StandardAero in a research note on Monday, October 28th. They issued an “overweight” rating and a $36.00 price objective for the company. Finally, CIBC began coverage on StandardAero in a research note on Monday, October 28th. They set a “sector outperform” rating and a $38.00 target price on the stock. Three investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $35.67.

StandardAero Price Performance

Shares of NYSE:SARO opened at $28.50 on Wednesday. StandardAero has a 12-month low of $26.78 and a 12-month high of $34.38.

Insider Transactions at StandardAero

In other news, major shareholder Private Ltd Gic sold 2,900,552 shares of StandardAero stock in a transaction on 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 of the company’s stock, valued at approximately $1,078,946,098.92. The trade was a 5.76 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

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.