StandardAero, Inc. (NYSE:SARO) Given Average Rating of “Hold” by Brokerages

StandardAero, Inc. (NYSE:SARO) has received a consensus recommendation of “Hold” from the ten analysts that are currently covering the firm, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating, five have issued a hold rating and four have given a buy rating to the company. The average twelve-month target price among brokerages that have updated their coverage on the stock in the last year is $34.00.

Several research firms have weighed in on SARO. UBS Group lowered their price target on StandardAero from $35.00 to $34.00 and set a “neutral” rating on the stock in a research report on Thursday, January 15th. Zacks Research downgraded shares of StandardAero from a “hold” rating to a “strong sell” rating in a report on Friday, January 23rd. Bank of America dropped 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 reiterated an “outperform” rating on shares of StandardAero in a research note on Monday, November 24th. Finally, Susquehanna set a $38.00 price objective on shares of StandardAero in a research note on Thursday, January 15th.

StandardAero Price Performance

NYSE:SARO opened at $31.39 on Tuesday. StandardAero has a 52-week low of $21.31 and a 52-week high of $34.48. The company has a market cap of $10.50 billion, a P/E ratio of 57.08 and a beta of 1.04. The company has a debt-to-equity ratio of 0.89, a quick ratio of 1.48 and a current ratio of 2.18. The stock’s 50-day simple moving average is $30.59 and its 200 day simple moving average is $28.25.

StandardAero declared that its board has approved a share repurchase program on Wednesday, December 10th that allows the company to buyback $450.00 million in shares. This buyback authorization allows the company to reacquire up to 5% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s board believes its stock is undervalued.

Insiders Place Their Bets

In other StandardAero news, CEO Russell Wayne Ford sold 40,000 shares of the company’s stock in a transaction that occurred on Wednesday, February 4th. The stock was sold at an average price of $30.12, for a total value of $1,204,800.00. Following the sale, the chief executive officer owned 726,955 shares in the company, valued at $21,895,884.60. This represents a 5.22% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders sold a total of 160,000 shares of company stock worth $4,840,400 over the last 90 days.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Cerity Partners LLC lifted its holdings in StandardAero by 0.6% during the 2nd quarter. Cerity Partners LLC now owns 69,758 shares of the company’s stock valued at $2,208,000 after purchasing an additional 416 shares during the last quarter. First Horizon Advisors Inc. raised its position in shares of StandardAero by 100.4% in the second quarter. First Horizon Advisors Inc. now owns 1,016 shares of the company’s stock valued at $32,000 after purchasing an additional 509 shares during the period. KBC Group NV lifted its stake in shares of StandardAero by 32.2% during the 2nd quarter. KBC Group NV now owns 2,605 shares of the company’s stock worth $82,000 after buying an additional 635 shares during the last quarter. PNC Financial Services Group Inc. boosted its holdings in shares of StandardAero by 20.5% during the 3rd quarter. PNC Financial Services Group Inc. now owns 4,411 shares of the company’s stock worth $120,000 after buying an additional 751 shares during the period. Finally, Comerica Bank acquired a new position in StandardAero in the 1st quarter valued at about $26,000.

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.