StandardAero (NYSE:SARO) Announces Earnings Results, Hits Expectations

StandardAero (NYSE:SARO) released its earnings results on Monday. The company reported $0.20 earnings per share for the quarter, hitting the consensus estimate of $0.20, Zacks reports. StandardAero had a net margin of 2.37% and a return on equity of 8.87%. The company had revenue of $1.50 billion for the quarter, compared to the consensus estimate of $1.43 billion. During the same quarter in the previous year, the firm earned $0.06 EPS. StandardAero’s revenue was up 20.4% compared to the same quarter last year.

StandardAero Stock Up 2.7%

Shares of NYSE SARO opened at $27.56 on Tuesday. StandardAero has a 52-week low of $21.31 and a 52-week high of $31.97. The company has a quick ratio of 1.49, a current ratio of 2.15 and a debt-to-equity ratio of 0.91. The company’s 50-day simple moving average is $27.43 and its 200-day simple moving average is $28.38. The firm has a market cap of $9.22 billion and a price-to-earnings ratio of 67.22.

Analyst Upgrades and Downgrades

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

Insider Transactions at StandardAero

In other StandardAero news, insider Alex Trapp sold 10,000 shares of the stock in a transaction that occurred on Wednesday, October 15th. The stock was sold at an average price of $29.21, for a total transaction of $292,100.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In the last 90 days, insiders sold 90,626 shares of company stock valued at $2,554,051.

Institutional Trading of StandardAero

Large investors have recently made changes to their positions in the company. PDT Partners LLC acquired a new stake in shares of StandardAero in the second quarter valued at about $2,625,000. Sandia Investment Management LP boosted its position in StandardAero by 20.0% during the second quarter. Sandia Investment Management LP now owns 30,000 shares of the company’s stock worth $950,000 after acquiring an additional 5,000 shares during the last quarter. Worldquant Millennium Advisors LLC purchased a new stake in StandardAero during the 2nd quarter valued at about $2,962,000. Treasurer of the State of North Carolina raised its holdings in StandardAero by 37.3% in the 2nd quarter. Treasurer of the State of North Carolina now owns 66,172 shares of the company’s stock valued at $2,094,000 after acquiring an additional 17,982 shares during the last quarter. Finally, Cerity Partners LLC lifted its stake in StandardAero by 0.6% in the 2nd quarter. Cerity Partners LLC now owns 69,758 shares of the company’s stock worth $2,208,000 after purchasing an additional 416 shares in the last quarter.

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.