StandardAero (NYSE:SARO) Sets New 52-Week High – Here’s Why

StandardAero, Inc. (NYSE:SARO)’s stock price hit a new 52-week high during mid-day trading on Tuesday . The stock 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.

Analysts Set New Price Targets

SARO has been the topic of a number of research analyst reports. Weiss Ratings reiterated a “hold (c)” rating on shares of StandardAero in a research note on Monday, December 22nd. Susquehanna set a $38.00 price target on shares of StandardAero in a report on Thursday, January 15th. Sanford C. Bernstein reiterated an “outperform” rating on shares of StandardAero in a research report on Monday, November 24th. 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 research report on Friday, November 14th. Finally, Zacks Research raised StandardAero from a “strong sell” rating to a “hold” rating in a research note on Wednesday, November 12th. Three analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat.com, StandardAero currently has a consensus rating of “Hold” and a consensus price target of $33.57.

StandardAero Stock Up 1.1%

The firm has a market cap of $10.80 billion, a price-to-earnings ratio of 58.71 and a beta of 1.04. The stock has a 50-day moving average of $28.31 and a 200-day moving average of $27.98. 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 announced its quarterly earnings results on Monday, November 10th. The company reported $0.20 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 in the prior year, the company earned $0.06 EPS. StandardAero’s revenue was up 20.4% compared to the same quarter last year. Sell-side analysts predict that StandardAero, Inc. will post 0.29 EPS for the current fiscal year.

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

Insider Buying and Selling at StandardAero

In related news, CEO Russell Wayne Ford sold 40,000 shares of StandardAero stock in a transaction on Wednesday, January 7th. The shares were sold at an average price of $30.24, for a total transaction of $1,209,600.00. Following the completion of the transaction, 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 filing with the Securities & Exchange Commission, which is available at the SEC website. 1.90% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the business. Comerica Bank acquired a new stake in StandardAero during the first quarter worth approximately $26,000. State of Wyoming purchased a new stake in shares of StandardAero in the third quarter worth approximately $27,000. First Horizon Advisors Inc. lifted its stake in StandardAero by 100.4% during the 2nd quarter. First Horizon Advisors Inc. now owns 1,016 shares of the company’s stock valued at $32,000 after acquiring an additional 509 shares in the last quarter. First Horizon Corp purchased a new stake in shares of StandardAero in the third quarter valued at about $34,000. Finally, Parallel Advisors LLC lifted its position in shares of StandardAero by 798.1% during the 2nd quarter. Parallel Advisors LLC now owns 1,383 shares of the company’s stock worth $44,000 after buying an additional 1,229 shares in the last quarter.

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.