StandardAero (NYSE:SARO) Hits New 12-Month High – Here’s What Happened

StandardAero, Inc. (NYSE:SARO)’s share price reached a new 52-week high on Tuesday . The company traded as high as $34.43 and last traded at $33.4210, with a volume of 641356 shares traded. The stock had previously closed at $32.48.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on SARO shares. Weiss Ratings reissued a “hold (c)” rating on shares of StandardAero in a research note on Monday, December 22nd. Zacks Research upgraded StandardAero from a “strong sell” rating to a “hold” rating in a report on Wednesday, November 12th. Susquehanna set a $38.00 price target on shares of StandardAero in a research report on Thursday. Wall Street Zen cut StandardAero from a “buy” rating to a “hold” rating in a report on Saturday, October 11th. Finally, UBS Group cut their price target on StandardAero from $35.00 to $34.00 and set a “neutral” rating for the company in a report on Thursday. Three investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $33.57.

StandardAero Stock Up 0.9%

The business has a 50 day simple moving average of $27.97 and a 200 day simple moving average of $27.92. The company has a market capitalization of $10.96 billion, a price-to-earnings ratio of 59.62 and a beta of 1.04. The company has a debt-to-equity ratio of 0.89, a current ratio of 2.18 and a quick ratio of 1.48.

StandardAero (NYSE:SARO) last issued its quarterly earnings data on Monday, November 10th. The company reported $0.20 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.20. StandardAero had a return on equity of 9.63% and a net margin of 3.15%.The business had revenue of $1.50 billion during the quarter, compared to analysts’ expectations of $1.43 billion. During the same period in the previous year, the firm posted $0.06 earnings per share. The company’s revenue was up 20.4% on a year-over-year basis. As a group, equities analysts predict that StandardAero, Inc. will post 0.29 earnings per share for the current fiscal year.

StandardAero announced that its Board of Directors has initiated a share buyback program on Wednesday, December 10th that allows the company to buyback $450.00 million in outstanding shares. This buyback authorization allows the company to repurchase up to 5% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board of directors believes its shares are undervalued.

Insider Buying and Selling

In other StandardAero news, CEO Russell Wayne Ford sold 40,000 shares of the business’s stock in a transaction on Wednesday, January 7th. The shares were sold at an average price of $30.24, for a total value of $1,209,600.00. Following the completion of the transaction, the chief executive officer owned 886,955 shares in the company, valued at $26,821,519.20. The trade was a 4.32% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website.

Hedge Funds Weigh In On StandardAero

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Allspring Global Investments Holdings LLC raised its holdings in StandardAero by 16.4% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 10,557,823 shares of the company’s stock valued at $312,934,000 after acquiring an additional 1,484,755 shares in the last quarter. Aventura Private Wealth LLC acquired a new position in shares of StandardAero during the fourth quarter worth $45,000. JPMorgan Chase & Co. increased its holdings in StandardAero by 42.9% in the third quarter. JPMorgan Chase & Co. now owns 308,384 shares of the company’s stock valued at $8,416,000 after buying an additional 92,514 shares during the last quarter. Danske Bank A S acquired a new stake in StandardAero in the third quarter valued at $82,000. Finally, Dark Forest Capital Management LP purchased a new stake in StandardAero during the 3rd quarter worth about $1,456,000.

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.