Morgan Stanley Issues Pessimistic Forecast for StandardAero (NYSE:SARO) Stock Price

StandardAero (NYSE:SARO) had its price target reduced by research analysts at Morgan Stanley from $33.00 to $32.00 in a report released on Friday,Benzinga reports. The brokerage presently has an “equal weight” rating on the stock. Morgan Stanley’s price objective points to a potential upside of 11.13% from the stock’s previous close.

SARO has been the subject of a number of other research reports. UBS Group increased their price objective on shares of StandardAero from $27.00 to $28.00 and gave the stock a “neutral” rating in a research report on Tuesday. Bank of America decreased their target price on StandardAero from $34.00 to $32.00 and set a “neutral” rating on the stock in a research note on Wednesday, November 27th. Three analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, StandardAero presently has an average rating of “Moderate Buy” and a consensus price target of $34.89.

StandardAero Trading Up 2.6 %

NYSE:SARO opened at $28.79 on Friday. StandardAero has a 52 week low of $22.50 and a 52 week high of $34.38. The company has a fifty day simple moving average of $26.09.

StandardAero (NYSE:SARO) last issued its quarterly earnings data on Monday, March 10th. The company reported ($0.04) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.16 by ($0.20). The company had revenue of $1.41 billion for the quarter, compared to analysts’ expectations of $1.37 billion. The business’s revenue for the quarter was up 21.8% compared to the same quarter last year. On average, research analysts predict that StandardAero will post 0.29 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Wellington Management Group LLP acquired a new stake in shares of StandardAero during the fourth quarter worth about $183,924,000. Carlyle Group Inc. acquired a new position in shares of StandardAero in the fourth quarter valued at approximately $165,294,000. T. Rowe Price Investment Management Inc. purchased a new stake in shares of StandardAero during the fourth quarter worth approximately $161,324,000. Price T Rowe Associates Inc. MD acquired a new stake in shares of StandardAero during the fourth quarter worth $155,829,000. Finally, Vanguard Group Inc. purchased a new position in StandardAero in the 4th quarter valued at $147,628,000.

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.