Key Points
- CEO Russell Wayne Ford sold 40,000 shares on Jan. 5 at an average price of $30.18 for proceeds of $1.21 million, trimming his stake by 3.97% to 966,955 shares (≈$29.18 million).
- The board approved a $450 million share buyback program (up to ~5% of shares), a move that typically signals management believes the stock is undervalued.
- StandardAero reported $0.20 EPS (in line with estimates) and revenue of $1.50 billion (up 20.4% year-over-year); the company has a $10.15 billion market cap and an average analyst price target of $32.43 (consensus rating: Hold).
StandardAero, Inc. (NYSE:SARO - Get Free Report) CEO Russell Wayne Ford sold 40,000 shares of the firm's stock in a transaction on Monday, January 5th. The stock was sold at an average price of $30.18, for a total value of $1,207,200.00. Following the sale, the chief executive officer directly owned 966,955 shares of the company's stock, valued at approximately $29,182,701.90. This trade represents a 3.97% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.
StandardAero Stock Performance
Shares of StandardAero stock opened at $30.34 on Thursday. The firm has a market cap of $10.15 billion, a PE ratio of 55.16 and a beta of 1.04. The company has a quick ratio of 1.48, a current ratio of 2.18 and a debt-to-equity ratio of 0.89. StandardAero, Inc. has a 52 week low of $21.31 and a 52 week high of $31.97. The business's fifty day simple moving average is $27.30 and its 200-day simple moving average is $27.87.
StandardAero (NYSE:SARO - Get Free Report) last issued its quarterly earnings data on Monday, November 10th. The company reported $0.20 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $0.20. The firm had revenue of $1.50 billion during the quarter, compared to the consensus estimate of $1.43 billion. StandardAero had a return on equity of 9.63% and a net margin of 3.15%.The company's quarterly revenue was up 20.4% on a year-over-year basis. During the same period last year, the company earned $0.06 EPS. Equities analysts forecast that StandardAero, Inc. will post 0.29 earnings per share for the current year.
StandardAero announced that its Board of Directors has authorized a share repurchase plan on Wednesday, December 10th that authorizes the company to buyback $450.00 million in shares. This buyback authorization authorizes the company to repurchase up to 5% of its stock through open market purchases. Stock buyback plans are typically an indication that the company's board of directors believes its shares are undervalued.
Institutional Inflows and Outflows
A number of hedge funds and other institutional investors have recently bought and sold shares of SARO. Aventura Private Wealth LLC purchased a new stake in StandardAero during the 4th quarter worth about $45,000. JPMorgan Chase & Co. increased its stake in shares of StandardAero by 42.9% during the third quarter. JPMorgan Chase & Co. now owns 308,384 shares of the company's stock worth $8,416,000 after buying an additional 92,514 shares during the period. Danske Bank A S purchased a new stake in shares of StandardAero during the third quarter worth approximately $82,000. Dark Forest Capital Management LP acquired a new stake in StandardAero in the third quarter valued at approximately $1,456,000. Finally, Zimmer Partners LP lifted its stake in StandardAero by 129.9% in the third quarter. Zimmer Partners LP now owns 1,000,000 shares of the company's stock worth $27,290,000 after acquiring an additional 565,000 shares during the last quarter.
Analyst Upgrades and Downgrades
A number of equities analysts recently weighed in on SARO shares. Bank of America lowered their price objective on shares of StandardAero from $33.00 to $30.00 and set a "neutral" rating for the company in a research report on Friday, November 14th. Sanford C. Bernstein restated an "outperform" rating on shares of StandardAero in a research report on Monday, November 24th. Susquehanna assumed coverage on StandardAero in a research note on Wednesday, September 17th. They issued a "positive" rating and a $34.00 price objective for the company. Barclays initiated coverage on StandardAero in a research note on Friday, September 12th. They set an "equal weight" rating and a $32.00 target price on the stock. Finally, Zacks Research raised StandardAero from a "strong sell" rating to a "hold" rating in a research report on Wednesday, November 12th. Three research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat.com, StandardAero presently has an average rating of "Hold" and an average price target of $32.43.
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About StandardAero
(
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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.
Further Reading
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