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

StandardAero (NYSE:SARO) had its target price dropped by research analysts at Bank of America from $34.00 to $32.00 in a research note issued on Wednesday,Benzinga reports. The firm currently has a “neutral” rating on the stock. Bank of America‘s price objective suggests a potential upside of 12.28% from the company’s previous close.

Several other research firms have also recently issued reports on SARO. Cibc World Mkts upgraded shares of StandardAero to a “strong-buy” rating in a research note on Monday, October 28th. CIBC initiated coverage on StandardAero in a research report on Monday, October 28th. They issued a “sector outperform” rating and a $38.00 price objective on the stock. Sanford C. Bernstein started coverage on StandardAero in a research note on Monday, October 28th. They set an “outperform” rating and a $39.00 price objective for the company. Royal Bank of Canada initiated coverage on StandardAero in a research note on Monday, October 28th. They issued an “outperform” rating and a $37.00 target price on the stock. Finally, Morgan Stanley initiated coverage on StandardAero in a research 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 issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $35.67.

StandardAero Price Performance

Shares of StandardAero stock 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 the business’s stock in a transaction that occurred on Thursday, October 3rd. The shares were sold at an average price of $22.74, for a total value of $65,958,552.48. Following the completion of the sale, the insider now directly owns 47,447,058 shares in the company, valued at approximately $1,078,946,098.92. The trade was a 5.76 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

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.