StandardAero (NYSE:SARO) Hits New 12-Month Low – Should You Sell?

StandardAero, Inc. (NYSE:SARO) shares hit a new 52-week low during mid-day trading on Tuesday . The stock traded as low as $25.45 and last traded at $25.81, with a volume of 303777 shares changing hands. The stock had previously closed at $26.19.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the company. Cibc World Mkts upgraded StandardAero to a “strong-buy” rating in a research report on Monday, October 28th. Jefferies Financial Group assumed coverage on shares of StandardAero in a report on Monday, October 28th. They issued a “buy” rating and a $38.00 price target on the stock. JPMorgan Chase & Co. began coverage on StandardAero in a report on Monday, October 28th. They set an “overweight” rating and a $36.00 price objective for the company. Royal Bank of Canada began coverage on StandardAero in a research report on Monday, October 28th. They issued an “outperform” rating and a $37.00 target price on the stock. Finally, Sanford C. Bernstein initiated coverage on StandardAero in a research report on Monday, October 28th. They issued an “outperform” rating and a $39.00 price objective on the stock. Three equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, StandardAero has a consensus rating of “Moderate Buy” and an average target price of $35.67.

StandardAero Trading Up 0.1 %

The company’s 50-day simple moving average is $29.07.

Insider Activity

In other StandardAero news, major shareholder Private Ltd Gic sold 2,900,552 shares of the stock in a transaction dated 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 sale, the insider now directly owns 47,447,058 shares in the company, valued at $1,078,946,098.92. This represents a 5.76 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at 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.