StandardAero (NYSE:SARO) Sets New 12-Month Low - Here's What Happened

Shares of StandardAero, Inc. (NYSE:SARO - Get Free Report) hit a new 52-week low 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.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the stock. Morgan Stanley assumed coverage on shares of StandardAero in a research note on Monday, October 28th. They issued an "equal weight" rating and a $33.00 price target on the stock. Jefferies Financial Group began coverage on StandardAero in a research report on Monday, October 28th. They issued a "buy" rating and a $38.00 target price on the stock. Royal Bank of Canada started coverage on StandardAero in a research note on Monday, October 28th. They set an "outperform" rating and a $37.00 price target on the stock. JPMorgan Chase & Co. initiated coverage on StandardAero in a research note on Monday, October 28th. They issued an "overweight" rating and a $36.00 price objective for the company. Finally, Cibc World Mkts upgraded StandardAero to a "strong-buy" rating in a report on Monday, October 28th. Three equities research 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. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $35.67.

StandardAero Price Performance

The stock has a 50 day simple moving average of $29.22.

Insider Activity

In other news, major shareholder Private Ltd Gic sold 2,900,552 shares of the firm's stock in a transaction on Thursday, October 3rd. The shares were sold at an average price of $22.74, for a total value 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 document filed with the Securities & Exchange Commission, which can be accessed through this link.

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.