StandardAero (NYSE:SARO) Hits New 12-Month Low – Here’s Why

StandardAero, Inc. (NYSE:SARO)’s stock price 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 traded. The stock had previously closed at $26.19.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on SARO. UBS Group began coverage on StandardAero in a research note on Monday, October 28th. They set a “neutral” rating and a $34.00 price target for the company. Royal Bank of Canada started coverage on StandardAero in a report on Monday, October 28th. They set an “outperform” rating and a $37.00 price target on the stock. Cibc World Mkts upgraded shares of StandardAero to a “strong-buy” rating in a research note on Monday, October 28th. CIBC initiated coverage on StandardAero in a research note on Monday, October 28th. They issued a “sector outperform” rating and a $38.00 price objective on the stock. Finally, 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. Three equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $35.67.

StandardAero Price Performance

The business’s fifty day moving average price is $29.37.

Insider Buying and Selling

In other StandardAero news, major shareholder Private Ltd Gic sold 2,900,552 shares of the firm’s stock in a transaction that occurred on 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 approximately $1,078,946,098.92. This trade represents a 5.76 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link.

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.