StandardAero’s (SARO) “Outperform” Rating Reaffirmed at Royal Bank Of Canada

StandardAero (NYSE:SARO)‘s stock had its “outperform” rating restated by analysts at Royal Bank Of Canada in a research note issued to investors on Thursday,Benzinga reports. They currently have a $37.00 price target on the stock. Royal Bank Of Canada’s target price indicates a potential upside of 17.94% from the stock’s previous close.

Other equities analysts also recently issued reports about the stock. Wall Street Zen downgraded shares of StandardAero from a “buy” rating to a “hold” rating in a report on Saturday, October 11th. Truist Financial began coverage on StandardAero in a report on Friday, October 10th. They issued a “buy” rating and a $35.00 price target on the stock. UBS Group dropped their price objective on StandardAero from $35.00 to $34.00 and set a “neutral” rating for the company in a report on Thursday, January 15th. Susquehanna set a $38.00 target price on StandardAero in a research report on Thursday, January 15th. Finally, Zacks Research cut shares of StandardAero from a “hold” rating to a “strong sell” rating in a report on Friday, January 23rd. Four research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, StandardAero presently has a consensus rating of “Hold” and a consensus target price of $34.00.

StandardAero Trading Down 0.7%

Shares of StandardAero stock traded down $0.22 on Thursday, reaching $31.37. The company had a trading volume of 3,178,431 shares, compared to its average volume of 4,540,683. The firm has a market cap of $10.49 billion, a price-to-earnings ratio of 57.01 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. The firm’s 50-day moving average price is $28.92 and its two-hundred day moving average price is $28.03. StandardAero has a 1 year low of $21.31 and a 1 year high of $34.48.

StandardAero (NYSE:SARO) last issued its quarterly earnings results on Monday, November 10th. The company reported $0.20 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates 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 period last year, the company earned $0.06 earnings per share. StandardAero’s revenue was up 20.4% on a year-over-year basis. As a group, research analysts predict that StandardAero will post 0.29 earnings per share for the current fiscal year.

StandardAero declared that its Board of Directors has initiated a share buyback plan on Wednesday, December 10th that authorizes the company to repurchase $450.00 million in outstanding shares. This repurchase authorization authorizes the company to repurchase up to 5% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s management believes its stock is undervalued.

Insider Buying and Selling at StandardAero

In related news, CEO Russell Wayne Ford sold 40,000 shares of the firm’s 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 sale, the chief executive officer owned 886,955 shares of the company’s stock, valued at $26,821,519.20. This trade represents a 4.32% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

Institutional Investors Weigh In On StandardAero

Several institutional investors have recently bought and sold shares of the company. Carlyle Group Inc. raised its holdings in shares of StandardAero by 13.6% during the second quarter. Carlyle Group Inc. now owns 152,673,891 shares of the company’s stock worth $4,832,129,000 after purchasing an additional 18,321,061 shares during the last quarter. Vanguard Group Inc. raised its position in StandardAero by 0.9% during the third quarter. Vanguard Group Inc. now owns 11,210,370 shares of the company’s stock valued at $305,931,000 after acquiring an additional 95,801 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its position in StandardAero by 16.4% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 10,557,823 shares of the company’s stock worth $312,934,000 after purchasing an additional 1,484,755 shares in the last quarter. Wellington Management Group LLP grew its position in shares of StandardAero by 18.2% during the 3rd quarter. Wellington Management Group LLP now owns 10,345,564 shares of the company’s stock valued at $282,330,000 after acquiring an additional 1,593,347 shares during the period. Finally, Norges Bank acquired a new position in StandardAero in the 2nd quarter worth about $203,038,000.

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.