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

StandardAero (NYSE:SARO) had its price objective lowered by Morgan Stanley from $33.00 to $32.00 in a report published on Friday morning,Benzinga reports. The brokerage currently has an equal weight rating on the stock.

Other equities analysts have also issued reports about the stock. Bank of America decreased their price objective on shares of StandardAero from $34.00 to $32.00 and set a “neutral” rating for the company in a research report on Wednesday, November 27th. UBS Group increased their price target on shares of StandardAero from $27.00 to $28.00 and gave the stock a “neutral” rating in a report on Tuesday, March 11th. Three investment 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’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $34.89.

StandardAero Stock Down 1.3 %

SARO stock opened at $28.60 on Friday. The firm’s 50-day moving average price is $26.27. StandardAero has a one year low of $22.50 and a one year high of $34.38.

StandardAero (NYSE:SARO) last announced its quarterly earnings data on Monday, March 10th. The company reported ($0.04) 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 firm’s revenue for the quarter was up 21.8% compared to the same quarter last year. Analysts predict that StandardAero will post 0.29 earnings per share for the current year.

Institutional Investors Weigh In On StandardAero

Hedge funds and other institutional investors have recently made changes to their positions in the company. Mirae Asset Global Investments Co. Ltd. acquired a new stake in shares of StandardAero during the 4th quarter worth approximately $486,000. Renaissance Capital LLC purchased a new position in shares of StandardAero during the 4th quarter valued at approximately $3,992,000. Jennison Associates LLC purchased a new position in shares of StandardAero during the 4th quarter valued at approximately $23,063,000. Legato Capital Management LLC purchased a new position in shares of StandardAero during the 4th quarter valued at approximately $335,000. Finally, Sumitomo Mitsui Trust Group Inc. purchased a new position in shares of StandardAero during the 4th quarter valued at approximately $224,000.

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.