StandardAero, Inc. (NYSE:SARO) Given Average Rating of “Hold” by Brokerages

StandardAero, Inc. (NYSE:SARO) has been assigned an average recommendation of “Hold” from the nine ratings firms that are currently covering the stock, Marketbeat.com reports. Six research analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average twelve-month price target among brokers that have issued ratings on the stock in the last year is $32.4286.

A number of analysts recently commented on the company. Susquehanna began coverage on StandardAero in a research report on Wednesday, September 17th. They set a “positive” rating and a $34.00 price objective for the company. Bank of America lowered their price target on shares of StandardAero from $33.00 to $30.00 and set a “neutral” rating for the company in a report on Friday, November 14th. Wall Street Zen downgraded shares of StandardAero from a “buy” rating to a “hold” rating in a research note on Saturday, October 11th. Sanford C. Bernstein restated an “outperform” rating on shares of StandardAero in a research report on Monday, November 24th. Finally, Zacks Research upgraded StandardAero from a “strong sell” rating to a “hold” rating in a report on Wednesday, November 12th.

StandardAero Trading Up 0.5%

Shares of StandardAero stock opened at $30.78 on Monday. StandardAero has a 1 year low of $21.31 and a 1 year high of $31.97. The company has a debt-to-equity ratio of 0.89, a current ratio of 2.18 and a quick ratio of 1.48. The business has a 50 day moving average price of $27.38 and a 200 day moving average price of $27.89. The company has a market capitalization of $10.29 billion, a P/E ratio of 55.96 and a beta of 1.04.

StandardAero (NYSE:SARO) last released its quarterly earnings results on Monday, November 10th. The company reported $0.20 earnings per share for the quarter, hitting the consensus estimate of $0.20. StandardAero had a return on equity of 9.63% and a net margin of 3.15%.The company had revenue of $1.50 billion during the quarter, compared to the consensus estimate of $1.43 billion. During the same quarter last year, the business posted $0.06 earnings per share. StandardAero’s revenue was up 20.4% compared to the same quarter last year. Sell-side analysts anticipate that StandardAero will post 0.29 EPS for the current fiscal year.

StandardAero announced that its Board of Directors has approved a share buyback plan on Wednesday, December 10th that allows the company to repurchase $450.00 million in shares. This repurchase authorization allows the company to buy up to 5% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s leadership believes its shares are undervalued.

Insider Activity

In related news, CEO Russell Wayne Ford sold 40,000 shares of the stock in a transaction dated Wednesday, January 7th. The stock was sold at an average price of $30.24, for a total transaction of $1,209,600.00. Following the transaction, the chief executive officer directly owned 886,955 shares in the company, valued at approximately $26,821,519.20. This represents a 4.32% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Alex Trapp sold 10,000 shares of StandardAero stock in a transaction dated Wednesday, October 15th. The shares were sold at an average price of $29.21, for a total value of $292,100.00. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 90,000 shares of company stock worth $2,708,900 over the last quarter. 1.90% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On StandardAero

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Comerica Bank acquired a new position in shares of StandardAero in the 1st quarter valued at $26,000. State of Wyoming purchased a new position in shares of StandardAero in the 3rd quarter worth $27,000. Corebridge Financial Inc. boosted its holdings in StandardAero by 46.8% in the first quarter. Corebridge Financial Inc. now owns 1,079 shares of the company’s stock valued at $29,000 after acquiring an additional 344 shares during the last quarter. First Horizon Advisors Inc. grew its position in StandardAero by 100.4% during the second quarter. First Horizon Advisors Inc. now owns 1,016 shares of the company’s stock valued at $32,000 after acquiring an additional 509 shares during the period. Finally, First Horizon Corp acquired a new stake in StandardAero during the third quarter worth about $34,000.

About StandardAero

StandardAero is a global aerospace maintenance, repair and overhaul (MRO) provider specializing in gas turbine engines, auxiliary power units (APUs), airframe components and oil & gas rotating equipment. The company offers a full suite of technical services including engine repair and overhaul, component repair, accessory maintenance, parts manufacturing and on-site field support. Its customer base spans commercial airlines, business and general aviation operators, regional carriers, original equipment manufacturers (OEMs) and defense organizations.

With roots dating back to 1911, StandardAero has grown through strategic acquisitions and organic expansion to become one of the largest independent MRO providers in the industry.