Morgan Stanley Lowers StandardAero (NYSE:SARO) Price Target to $32.00

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

A number of other brokerages also recently issued reports on SARO. UBS Group increased their price target on shares of StandardAero from $27.00 to $28.00 and gave the company a “neutral” rating in a report on Tuesday. Bank of America lowered their target price on shares of StandardAero from $34.00 to $32.00 and set a “neutral” rating on the stock in a research report on Wednesday, November 27th. Three research analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, StandardAero presently has a consensus rating of “Moderate Buy” and a consensus price target of $34.89.

StandardAero Stock Performance

NYSE SARO opened at $28.79 on Friday. The stock’s 50 day simple moving average is $26.09. StandardAero has a 12-month low of $22.50 and a 12-month high of $34.38.

StandardAero (NYSE:SARO) last announced its quarterly earnings data on Monday, March 10th. The company reported ($0.04) earnings per share for the quarter, missing analysts’ consensus estimates of $0.16 by ($0.20). The company had revenue of $1.41 billion during the quarter, compared to analysts’ expectations of $1.37 billion. The company’s revenue for the quarter was up 21.8% on a year-over-year basis. As a group, equities research analysts forecast that StandardAero will post 0.29 EPS for the current year.

Institutional Trading of StandardAero

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

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.