Bank of America Issues Pessimistic Forecast for StandardAero (NYSE:SARO) Stock Price

StandardAero (NYSE:SARO) had its price objective lowered by investment analysts at Bank of America from $34.00 to $32.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The firm currently has a “neutral” rating on the stock. Bank of America‘s target price would indicate a potential upside of 8.95% from the company’s previous close.

A number of other analysts have also weighed in on the stock. JPMorgan Chase & Co. started coverage on shares of StandardAero in a research report on Monday, October 28th. They issued an “overweight” rating and a $36.00 target price on the stock. Jefferies Financial Group started coverage on StandardAero in a research report on Monday, October 28th. They set a “buy” rating and a $38.00 price objective on the stock. Royal Bank of Canada assumed coverage on StandardAero in a research report on Monday, October 28th. They issued an “outperform” rating and a $37.00 target price for the company. Sanford C. Bernstein assumed coverage on StandardAero in a report on Monday, October 28th. They set an “outperform” rating and a $39.00 price target on the stock. Finally, CIBC initiated coverage on shares of StandardAero in a report on Monday, October 28th. They issued a “sector outperform” rating and a $38.00 price objective 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 stock. According to MarketBeat.com, StandardAero currently has an average rating of “Moderate Buy” and a consensus target price of $35.67.

StandardAero Price Performance

SARO stock opened at $29.37 on Wednesday. StandardAero has a 12 month low of $26.78 and a 12 month high of $34.38.

Insiders Place Their Bets

In other news, major shareholder Private Ltd Gic sold 2,900,552 shares of the business’s stock in a transaction dated Thursday, October 3rd. The stock was sold at an average price of $22.74, for a total value of $65,958,552.48. Following the transaction, the insider now directly owns 47,447,058 shares of the company’s stock, valued at $1,078,946,098.92. The trade was a 5.76 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

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.