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

Royal Bank Of Canada reissued their outperform rating on shares of StandardAero (NYSE:SARO) in a report released on Thursday morning,Benzinga reports. The firm currently has a $37.00 price target on the stock.

Other equities analysts have also issued reports about the stock. Bank of America reduced their price target on shares of StandardAero from $33.00 to $30.00 and set a “neutral” rating on the stock in a research report on Friday, November 14th. Sanford C. Bernstein reissued an “outperform” rating on shares of StandardAero in a report on Monday, November 24th. Zacks Research lowered StandardAero from a “hold” rating to a “strong sell” rating in a research report on Friday, January 23rd. Truist Financial assumed coverage on StandardAero in a research report on Friday, October 10th. They issued a “buy” rating and a $35.00 price objective for the company. Finally, UBS Group reduced their price objective on StandardAero from $35.00 to $34.00 and set a “neutral” rating on the stock in a research note on Thursday, January 15th. Four equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $34.00.

StandardAero Stock Performance

Shares of NYSE:SARO opened at $31.20 on Thursday. The business’s fifty day moving average price is $29.06 and its two-hundred day moving average price is $28.05. StandardAero has a fifty-two week low of $21.31 and a fifty-two week high of $34.48. The stock has a market capitalization of $10.43 billion, a price-to-earnings ratio of 56.72 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 (EPS) 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 company had revenue of $1.50 billion during the quarter, compared to analysts’ expectations of $1.43 billion. During the same period last year, the business earned $0.06 earnings per share. The business’s revenue was up 20.4% on a year-over-year basis. As a group, analysts predict that StandardAero will post 0.29 EPS for the current fiscal year.

StandardAero announced that its board has approved a stock buyback plan on Wednesday, December 10th that permits the company to repurchase $450.00 million in shares. This repurchase authorization permits the company to purchase up to 5% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s board believes its shares are undervalued.

Insider Activity

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 value of $1,209,600.00. Following the transaction, the chief executive officer owned 886,955 shares in the company, valued at $26,821,519.20. This trade represents a 4.32% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 1.90% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. Comerica Bank bought a new stake in shares of StandardAero during the first quarter worth approximately $26,000. State of Wyoming acquired a new stake in StandardAero during the 3rd quarter worth $27,000. First Horizon Advisors Inc. grew its holdings in StandardAero by 100.4% during the 2nd quarter. First Horizon Advisors Inc. now owns 1,016 shares of the company’s stock worth $32,000 after acquiring an additional 509 shares during the period. First Horizon Corp bought a new stake in shares of StandardAero during the 3rd quarter valued at $34,000. Finally, Aventura Private Wealth LLC acquired a new position in shares of StandardAero in the 4th quarter valued at $45,000.

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.