StandardAero (NYSE:SARO) Price Target Cut to $34.00 by Analysts at CIBC

StandardAero (NYSE:SARO - Get Free Report) had its price objective lowered by equities research analysts at CIBC from $35.00 to $34.00 in a note issued to investors on Tuesday,Benzinga reports. The brokerage presently has an "outperformer" rating on the stock. CIBC's price objective suggests a potential upside of 11.55% from the stock's current price.

A number of other analysts have also weighed in on SARO. Wall Street Zen lowered StandardAero from a "buy" rating to a "hold" rating in a research note on Saturday, June 14th. Morgan Stanley reduced their target price on StandardAero from $33.00 to $32.00 and set an "equal weight" rating on the stock in a research note on Friday, March 14th. Finally, UBS Group increased their price target on StandardAero from $25.00 to $30.00 and gave the stock a "neutral" rating in a research report on Tuesday, May 13th. Four research analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $34.67.

StandardAero Trading Down 0.9%

Shares of NYSE SARO traded down $0.29 during trading hours on Tuesday, hitting $30.48. 2,840,908 shares of the company traded hands, compared to its average volume of 2,337,263. The company's 50 day moving average price is $29.54 and its 200 day moving average price is $27.30. The company has a debt-to-equity ratio of 0.95, a quick ratio of 1.37 and a current ratio of 2.00. StandardAero has a 12 month low of $21.31 and a 12 month high of $34.38.

StandardAero (NYSE:SARO - Get Free Report) last released its earnings results on Monday, May 12th. The company reported $0.19 earnings per share for the quarter, topping analysts' consensus estimates 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. The company's revenue for the quarter was up 16.2% compared to the same quarter last year. Sell-side analysts expect that StandardAero will post 0.29 earnings per share for the current year.

Insiders Place Their Bets

In related news, major shareholder Private Ltd Gic sold 828,729 shares of the firm's stock in a transaction dated 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 $940,857,180.90. This trade represents a 2.35% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

Institutional Investors Weigh In On StandardAero

A number of institutional investors have recently added to or reduced their stakes in the stock. Parallel Advisors LLC boosted its position in StandardAero by 798.1% during the second quarter. Parallel Advisors LLC now owns 1,383 shares of the company's stock valued at $44,000 after purchasing an additional 1,229 shares in the last quarter. Goldman Sachs Group Inc. bought a new stake in StandardAero during the first quarter valued at about $6,821,000. Voya Investment Management LLC boosted its position in StandardAero by 48.4% during the first quarter. Voya Investment Management LLC now owns 1,471,945 shares of the company's stock valued at $39,213,000 after purchasing an additional 479,871 shares in the last quarter. DLD Asset Management LP bought a new stake in StandardAero during the first quarter valued at about $1,332,000. Finally, Rhumbline Advisers boosted its position in StandardAero by 45.9% during the first quarter. Rhumbline Advisers now owns 73,365 shares of the company's stock valued at $1,954,000 after purchasing an additional 23,086 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.