Royal Bank Of Canada Reiterates “Outperform” Rating for StandardAero (NYSE:SARO)

StandardAero (NYSE:SARO)‘s stock had its “outperform” rating restated by Royal Bank Of Canada in a research note issued on Thursday,Benzinga reports. They presently have a $37.00 price objective on the stock. Royal Bank Of Canada’s target price would suggest a potential upside of 19.70% from the company’s current price.

A number of other research analysts have also recently weighed in on the stock. UBS Group dropped their price objective on shares of StandardAero from $35.00 to $34.00 and set a “neutral” rating for the company in a research note on Thursday, January 15th. Susquehanna set a $38.00 price target on StandardAero in a report on Thursday, January 15th. Sanford C. Bernstein restated an “outperform” rating on shares of StandardAero in a research report on Monday, November 24th. Bank of America decreased their price objective on StandardAero from $33.00 to $30.00 and set a “neutral” rating on the stock in a research note on Friday, November 14th. Finally, Wall Street Zen downgraded shares of StandardAero from a “buy” rating to a “hold” rating in a research note on Saturday, October 11th. Four investment analysts have rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $34.00.

StandardAero Stock Down 0.9%

StandardAero stock opened at $30.91 on Thursday. StandardAero has a fifty-two week low of $21.31 and a fifty-two week high of $34.48. The firm has a market capitalization of $10.34 billion, a price-to-earnings ratio of 56.20 and a beta of 1.04. The stock’s fifty day moving average is $29.18 and its two-hundred day moving average is $28.06. The company has a debt-to-equity ratio of 0.89, a quick ratio of 1.48 and a current ratio of 2.18.

StandardAero (NYSE:SARO) last released its quarterly earnings data on Monday, November 10th. The company reported $0.20 EPS for the quarter, hitting the consensus estimate of $0.20. StandardAero had a net margin of 3.15% and a return on equity of 9.63%. The business had revenue of $1.50 billion for the quarter, compared to analyst estimates of $1.43 billion. During the same period in the previous year, the firm earned $0.06 EPS. The business’s revenue for the quarter was up 20.4% compared to the same quarter last year. Analysts predict that StandardAero will post 0.29 EPS for the current fiscal year.

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

Insider Transactions at StandardAero

In other StandardAero news, CEO Russell Wayne Ford sold 40,000 shares of StandardAero 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 completion of the sale, the chief executive officer owned 886,955 shares in the company, valued at $26,821,519.20. The trade was a 4.32% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders own 1.90% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. Carlyle Group Inc. raised its holdings in shares of StandardAero by 13.6% in the 2nd quarter. Carlyle Group Inc. now owns 152,673,891 shares of the company’s stock worth $4,832,129,000 after purchasing an additional 18,321,061 shares during the period. Parnassus Investments LLC increased its position in StandardAero by 120.9% during the 3rd quarter. Parnassus Investments LLC now owns 1,139,581 shares of the company’s stock worth $31,099,000 after purchasing an additional 623,652 shares in the last quarter. Allspring Global Investments Holdings LLC increased its position in StandardAero by 311.6% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 8,548,613 shares of the company’s stock worth $261,759,000 after purchasing an additional 6,471,813 shares in the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new position in StandardAero in the third quarter valued at approximately $1,479,000. Finally, Envestnet Asset Management Inc. acquired a new position in StandardAero during the second quarter valued at approximately $639,000.

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.