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

StandardAero (NYSE:SARO) had its price target decreased by Morgan Stanley from $33.00 to $32.00 in a research note published on Friday,Benzinga reports. Morgan Stanley currently has an equal weight rating on the stock.

Several other equities analysts also recently weighed in on SARO. Bank of America dropped their target price on 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 lifted their target price on StandardAero from $27.00 to $28.00 and gave the company a “neutral” rating in a research report on Tuesday, March 11th. Three analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $34.89.

StandardAero Stock Performance

NYSE SARO opened at $28.60 on Friday. StandardAero has a 52 week low of $22.50 and a 52 week high of $34.38. The business’s fifty day moving average is $26.27.

StandardAero (NYSE:SARO) last posted its quarterly earnings results on Monday, March 10th. The company reported ($0.04) EPS for the quarter, missing the consensus estimate of $0.16 by ($0.20). The firm had revenue of $1.41 billion during the quarter, compared to analyst estimates of $1.37 billion. The business’s revenue for the quarter was up 21.8% on a year-over-year basis. Sell-side analysts expect that StandardAero will post 0.29 earnings per share for the current fiscal year.

Institutional Investors Weigh In On StandardAero

Institutional investors have recently added to or reduced their stakes in the business. Bessemer Group Inc. purchased a new stake in StandardAero during the fourth quarter worth approximately $28,000. R Squared Ltd purchased a new stake in StandardAero during the fourth quarter worth approximately $39,000. MetLife Investment Management LLC purchased a new stake in StandardAero during the fourth quarter worth approximately $54,000. PNC Financial Services Group Inc. purchased a new stake in StandardAero during the fourth quarter worth approximately $62,000. Finally, Sterling Capital Management LLC purchased a new stake in StandardAero in the fourth quarter valued at approximately $78,000.

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.