StandardAero, Inc. (NYSE:SARO) Receives $32.43 Average Price Target from Analysts

StandardAero, Inc. (NYSE:SARO) has been given an average recommendation of “Hold” by the nine ratings firms that are currently covering the firm, MarketBeat.com reports. Six research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average 1-year target price among analysts that have issued a report on the stock in the last year is $32.4286.

A number of analysts recently weighed in on SARO shares. Zacks Research upgraded shares of StandardAero from a “strong sell” rating to a “hold” rating in a research report on Wednesday, November 12th. Truist Financial assumed coverage on shares of StandardAero in a research report on Friday, October 10th. They issued a “buy” rating and a $35.00 price objective on the stock. Sanford C. Bernstein reissued an “outperform” rating on shares of StandardAero in a research report on Monday, November 24th. Weiss Ratings reissued a “hold (c)” rating on shares of StandardAero in a research report on Monday, December 22nd. Finally, Barclays began coverage on StandardAero in a research note on Friday, September 12th. They issued an “equal weight” rating and a $32.00 price target on the stock.

StandardAero Stock Down 0.1%

SARO opened at $30.34 on Monday. 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 fifty day moving average price is $27.30 and its two-hundred day moving average price is $27.87. StandardAero has a fifty-two week low of $21.31 and a fifty-two week high of $31.97. The company has a market capitalization of $10.15 billion, a P/E ratio of 55.16 and a beta of 1.04.

StandardAero (NYSE:SARO) last issued its quarterly earnings data on Monday, November 10th. The company reported $0.20 earnings per share for the quarter, hitting the consensus estimate of $0.20. The firm had revenue of $1.50 billion for the quarter, compared to analysts’ expectations of $1.43 billion. StandardAero had a net margin of 3.15% and a return on equity of 9.63%. The company’s quarterly revenue was up 20.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.06 earnings per share. On average, analysts anticipate that StandardAero will post 0.29 EPS for the current year.

StandardAero announced that its Board of Directors has authorized a stock repurchase program 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 stock through open market purchases. Stock repurchase programs are often a sign that the company’s leadership believes its shares are undervalued.

Insider Transactions at StandardAero

In related news, insider Alex Trapp sold 10,000 shares of StandardAero stock in a transaction that occurred on Wednesday, October 15th. The shares were sold at an average price of $29.21, for a total value of $292,100.00. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Russell Wayne Ford sold 40,000 shares of StandardAero stock in a transaction that occurred on Monday, January 5th. The shares were sold at an average price of $30.18, for a total transaction of $1,207,200.00. Following the sale, the chief executive officer directly owned 966,955 shares in the company, valued at $29,182,701.90. This trade represents a 3.97% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Corporate insiders own 1.90% of the company’s stock.

Institutional Trading of StandardAero

A number of institutional investors and hedge funds have recently modified their holdings of the business. Carlyle Group Inc. boosted its holdings in shares of StandardAero by 13.6% in the second quarter. Carlyle Group Inc. now owns 152,673,891 shares of the company’s stock worth $4,832,129,000 after acquiring an additional 18,321,061 shares during the period. Vanguard Group Inc. grew its position in StandardAero by 0.9% in the third quarter. Vanguard Group Inc. now owns 11,210,370 shares of the company’s stock worth $305,931,000 after acquiring an additional 95,801 shares in the last quarter. Wellington Management Group LLP increased 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 purchasing an additional 1,593,347 shares during the last quarter. Allspring Global Investments Holdings LLC raised its stake in shares of StandardAero by 6.1% during the third quarter. Allspring Global Investments Holdings LLC now owns 9,073,068 shares of the company’s stock worth $249,056,000 after acquiring an additional 524,455 shares in the last quarter. Finally, Norges Bank purchased a new stake in StandardAero during the second quarter valued at about $203,038,000.

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.