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

StandardAero (NYSE:SARO - Get Free Report) had its price objective cut by CIBC from $35.00 to $34.00 in a report issued on Tuesday,Benzinga reports. The firm currently has an "outperformer" rating on the stock. CIBC's price target suggests a potential upside of 13.86% from the company's current price.

SARO has been the topic of a number of other research reports. Morgan Stanley lowered their price objective on StandardAero from $33.00 to $32.00 and set an "equal weight" rating on the stock in a report on Friday, March 14th. Wall Street Zen lowered StandardAero from a "buy" rating to a "hold" rating in a report on Saturday, June 14th. Finally, UBS Group raised their target price on StandardAero from $25.00 to $30.00 and gave the company a "neutral" rating in a report on Tuesday, May 13th. Four equities research analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $34.67.

StandardAero Stock Performance

StandardAero stock traded down $0.15 during mid-day trading on Tuesday, hitting $29.86. The company's stock had a trading volume of 472,528 shares, compared to its average volume of 2,328,948. The firm's 50 day moving average is $29.66 and its 200 day moving average is $27.35. The company has a quick ratio of 1.37, a current ratio of 2.00 and a debt-to-equity ratio of 0.95. StandardAero has a 52-week low of $21.31 and a 52-week high of $34.38.

StandardAero (NYSE:SARO - Get Free Report) last announced its quarterly earnings data on Monday, May 12th. The company reported $0.19 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.17 by $0.02. The business had revenue of $1.44 billion during the quarter, compared to analysts' expectations of $1.51 billion. StandardAero's quarterly revenue was up 16.2% on a year-over-year basis. Analysts anticipate that StandardAero will post 0.29 EPS for the current year.

Insider Buying and Selling at StandardAero

In other news, major shareholder Private Ltd Gic sold 828,729 shares of StandardAero stock in a transaction that occurred on Thursday, May 29th. The stock was sold at an average price of $27.30, for a total transaction of $22,624,301.70. Following the sale, the insider owned 34,463,633 shares of the company's stock, valued at approximately $940,857,180.90. This trade represents a 2.35% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 1.90% of the company's stock.

Institutional Trading of StandardAero

Institutional investors have recently modified their holdings of the company. Comerica Bank acquired a new stake in shares of StandardAero during the 1st quarter worth approximately $26,000. Bessemer Group Inc. acquired a new stake in shares of StandardAero during the 4th quarter worth approximately $28,000. Corebridge Financial Inc. grew its holdings in shares of StandardAero by 46.8% during the 1st quarter. Corebridge Financial Inc. now owns 1,079 shares of the company's stock worth $29,000 after purchasing an additional 344 shares in the last quarter. GAMMA Investing LLC grew its holdings in shares of StandardAero by 272.3% during the 1st quarter. GAMMA Investing LLC now owns 1,128 shares of the company's stock worth $30,000 after purchasing an additional 825 shares in the last quarter. Finally, Parallel Advisors LLC grew its holdings in shares of StandardAero by 798.1% during the 2nd quarter. Parallel Advisors LLC now owns 1,383 shares of the company's stock worth $44,000 after purchasing an additional 1,229 shares in the last quarter.

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.