Renaissance Capital LLC Grows Stock Position in StandardAero, Inc. $SARO

Renaissance Capital LLC boosted its position in shares of StandardAero, Inc. (NYSE:SARO) by 39.1% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 179,994 shares of the company’s stock after buying an additional 50,588 shares during the quarter. StandardAero accounts for approximately 2.8% of Renaissance Capital LLC’s investment portfolio, making the stock its 15th largest position. Renaissance Capital LLC’s holdings in StandardAero were worth $4,912,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of SARO. Comerica Bank bought a new stake in shares of StandardAero in the 1st quarter worth about $26,000. Corebridge Financial Inc. lifted its stake in StandardAero by 46.8% in the first quarter. Corebridge Financial Inc. now owns 1,079 shares of the company’s stock worth $29,000 after purchasing an additional 344 shares during the last quarter. First Horizon Advisors Inc. boosted its position in shares of StandardAero by 100.4% during the second quarter. First Horizon Advisors Inc. now owns 1,016 shares of the company’s stock valued at $32,000 after buying an additional 509 shares during the period. Parallel Advisors LLC raised its holdings in shares of StandardAero by 798.1% in the second quarter. Parallel Advisors LLC now owns 1,383 shares of the company’s stock worth $44,000 after buying an additional 1,229 shares during the period. Finally, KBC Group NV boosted its stake in shares of StandardAero by 32.2% during the second quarter. KBC Group NV now owns 2,605 shares of the company’s stock valued at $82,000 after purchasing an additional 635 shares during the period.

Insider Activity

In related news, insider Alex Trapp sold 10,000 shares of the company’s stock in a transaction on Wednesday, October 15th. The stock was sold at an average price of $29.21, for a total value of $292,100.00. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the stock. Susquehanna started coverage on shares of StandardAero in a report on Wednesday, September 17th. They set a “positive” rating and a $34.00 target price on the stock. Bank of America dropped their target price on 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 research report on Monday, November 24th. Barclays assumed coverage on StandardAero in a research note on Friday, September 12th. They issued an “equal weight” rating and a $32.00 target price on the stock. Finally, Truist Financial began coverage on shares of StandardAero in a research report on Friday, October 10th. They set a “buy” rating and a $35.00 price target for the company. Three analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat.com, StandardAero currently has an average rating of “Hold” and a consensus target price of $32.43.

StandardAero Stock Down 0.9%

Shares of SARO stock opened at $28.75 on Wednesday. The stock’s fifty day moving average price is $27.17 and its 200 day moving average price is $27.86. StandardAero, Inc. has a 1-year low of $21.31 and a 1-year high of $31.97. The company has a market cap of $9.62 billion, a price-to-earnings ratio of 52.27 and a beta of 1.16. 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 posted its quarterly earnings data on Monday, November 10th. The company reported $0.20 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.20. The firm had revenue of $1.50 billion for the quarter, compared to the consensus estimate of $1.43 billion. StandardAero had a net margin of 3.15% and a return on equity of 9.63%. The company’s revenue for the quarter was up 20.4% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.06 earnings per share. On average, research analysts expect that StandardAero, Inc. will post 0.29 earnings per share for the current fiscal year.

StandardAero declared that its Board of Directors has authorized a share repurchase 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 usually a sign that the company’s board believes its shares are undervalued.

StandardAero 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.