StandardAero (NYSE:SARO) Announces Earnings Results, Meets Estimates

StandardAero (NYSE:SARO) issued its earnings results on Monday. The company reported $0.20 EPS for the quarter, meeting the consensus estimate of $0.20, Zacks reports. The firm had revenue of $1.50 billion during 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 9.77%. The business’s quarterly revenue was up 20.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.06 earnings per share.

StandardAero Stock Down 0.7%

StandardAero stock opened at $27.34 on Wednesday. The company has a current ratio of 2.15, a quick ratio of 1.49 and a debt-to-equity ratio of 0.91. StandardAero has a 1-year low of $21.31 and a 1-year high of $31.97. The company has a fifty day simple moving average of $27.45 and a 200 day simple moving average of $28.39. The company has a market cap of $9.14 billion and a P/E ratio of 49.70.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the stock. Zacks Research lowered shares of StandardAero from a “hold” rating to a “strong sell” rating in a report on Tuesday, October 14th. Truist Financial started coverage on StandardAero in a research note on Friday, October 10th. They issued a “buy” rating and a $35.00 target price for the company. Wall Street Zen downgraded StandardAero from a “buy” rating to a “hold” rating in a report on Saturday, October 11th. Susquehanna began coverage on StandardAero in a report on Wednesday, September 17th. They set a “positive” rating and a $34.00 price objective on the stock. Finally, Weiss Ratings restated a “sell (d+)” rating on shares of StandardAero in a report on Wednesday, October 8th. Two equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat.com, StandardAero currently has a consensus rating of “Hold” and a consensus price target of $32.71.

Insider Buying and Selling at StandardAero

In related news, insider Alex Trapp sold 73,718 shares of StandardAero stock in a transaction dated Thursday, September 18th. The stock was sold at an average price of $28.06, for a total value of $2,068,527.08. Following the sale, the insider owned 16,908 shares of the company’s stock, valued at approximately $474,438.48. The trade was a 81.34% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In the last three months, insiders sold 90,626 shares of company stock valued at $2,554,051.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of SARO. State Street Corp increased its position in shares of StandardAero by 90.7% during the 2nd quarter. State Street Corp now owns 6,047,097 shares of the company’s stock worth $191,391,000 after purchasing an additional 2,875,579 shares during the last quarter. Cubist Systematic Strategies LLC acquired a new position in StandardAero during the second quarter worth $22,674,000. BNP Paribas Financial Markets raised its position in StandardAero by 1,145.4% during the second quarter. BNP Paribas Financial Markets now owns 650,488 shares of the company’s stock worth $20,588,000 after acquiring an additional 598,255 shares in the last quarter. Sei Investments Co. lifted its stake in StandardAero by 877.7% in the second quarter. Sei Investments Co. now owns 628,746 shares of the company’s stock valued at $19,900,000 after acquiring an additional 564,435 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC bought a new position in shares of StandardAero in the 1st quarter valued at about $12,343,000.

About StandardAero

StandardAero, Inc provides aerospace engine aftermarket services for fixed and rotary wing aircraft in the United States, Canada, the United Kingdom, Rest of Europe, Asia, and internationally. It operates in two segments, Engine Services and Component Repair Services. The Engine Services segment provides a suite of aftermarket services, including maintenance, repair and overhaul, on-wing and field service support, asset management, and engineering and related solutions to customers in the commercial aerospace, military and helicopter, and business aviation end markets.