StandardAero (NYSE:SARO) Hits New 52-Week High – What’s Next?

StandardAero, Inc. (NYSE:SARO)’s share price reached a new 52-week high during trading on Monday . The stock traded as high as $32.08 and last traded at $31.9650, with a volume of 668180 shares changing hands. The stock had previously closed at $30.78.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on SARO shares. Susquehanna started coverage on shares of StandardAero in a report on Wednesday, September 17th. They issued a “positive” rating and a $34.00 target price for the company. Truist Financial began coverage on StandardAero in a research note on Friday, October 10th. They issued a “buy” rating and a $35.00 price objective on the stock. Wall Street Zen cut StandardAero from a “buy” rating to a “hold” rating in a report on Saturday, October 11th. Bank of America cut their price target on shares of StandardAero from $33.00 to $30.00 and set a “neutral” rating on the stock in a report on Friday, November 14th. Finally, Sanford C. Bernstein reiterated an “outperform” rating on shares of StandardAero in a research note on Monday, November 24th. Three analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $32.43.

StandardAero Stock Up 3.7%

The stock has a market capitalization of $10.67 billion, a P/E ratio of 43.35 and a beta of 1.04. The company has a current ratio of 2.18, a quick ratio of 1.48 and a debt-to-equity ratio of 0.89. The stock’s 50 day simple moving average is $27.38 and its 200 day simple moving average is $27.86.

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

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

Insider Buying and Selling

In other news, insider Alex Trapp sold 10,000 shares of the stock in a transaction that occurred on Wednesday, October 15th. The stock was sold at an average price of $29.21, for a total transaction of $292,100.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Russell Wayne Ford sold 40,000 shares of the stock in a transaction on Wednesday, January 7th. The stock was sold at an average price of $30.24, for a total value of $1,209,600.00. Following the completion of the sale, the chief executive officer directly owned 886,955 shares in the company, valued at $26,821,519.20. This represents a 4.32% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 90,000 shares of company stock valued at $2,708,900.

Institutional Trading of StandardAero

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Cerity Partners LLC lifted its position in StandardAero by 0.6% in the 2nd quarter. Cerity Partners LLC now owns 69,758 shares of the company’s stock worth $2,208,000 after buying an additional 416 shares in the last quarter. First Horizon Advisors Inc. grew its stake in StandardAero by 100.4% in the second quarter. First Horizon Advisors Inc. now owns 1,016 shares of the company’s stock valued at $32,000 after purchasing an additional 509 shares in the last quarter. KBC Group NV grew its stake in StandardAero by 32.2% in the second quarter. KBC Group NV now owns 2,605 shares of the company’s stock valued at $82,000 after purchasing an additional 635 shares in the last quarter. PNC Financial Services Group Inc. lifted its holdings in shares of StandardAero by 20.5% during the 3rd quarter. PNC Financial Services Group Inc. now owns 4,411 shares of the company’s stock valued at $120,000 after buying an additional 751 shares during the last quarter. Finally, Comerica Bank bought a new position in StandardAero during the first quarter valued at approximately $26,000.

StandardAero Company Profile

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.