Key Points
- CEO Russell Wayne Ford sold 80,000 shares across two trades (40,000 on Jan 5 at $30.18 and 40,000 on Jan 7 at $30.24), totaling about $2.42 million; the Jan 7 filing said that sale represented a 4.32% reduction in his ownership and he now directly holds 886,955 shares valued at roughly $26.82 million.
- Board authorized a $450 million share buyback, allowing repurchases of up to 5% of outstanding shares, a move typically interpreted as the board signaling the stock may be undervalued.
- StandardAero has a market cap of $10.29 billion, a P/E of ~55.96, a 52-week range of $21.31–$31.97, and a consensus analyst rating of Hold with a $32.43 price target.
StandardAero, Inc. (NYSE:SARO - Get Free Report) CEO Russell Wayne Ford sold 40,000 shares of the business's stock in a transaction dated Wednesday, January 7th. The stock was sold at an average price of $30.24, for a total transaction of $1,209,600.00. Following the completion of the transaction, the chief executive officer directly owned 886,955 shares in the company, valued at $26,821,519.20. This trade represents a 4.32% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link.
Russell Wayne Ford also recently made the following trade(s):
- On Monday, January 5th, Russell Wayne Ford sold 40,000 shares of StandardAero stock. The stock was sold at an average price of $30.18, for a total transaction of $1,207,200.00.
StandardAero Stock Performance
Shares of SARO stock opened at $30.78 on Friday. The company has a debt-to-equity ratio of 0.89, a quick ratio of 1.48 and a current ratio of 2.18. The firm has a market cap of $10.29 billion, a price-to-earnings ratio of 55.96 and a beta of 1.04. StandardAero, Inc. has a 52 week low of $21.31 and a 52 week high of $31.97. The firm's 50-day simple moving average is $27.38 and its two-hundred day simple moving average is $27.89.
StandardAero (NYSE:SARO - Get Free Report) last issued its quarterly earnings results on Monday, November 10th. The company reported $0.20 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.20. The company had revenue of $1.50 billion during the quarter, compared to analyst estimates of $1.43 billion. StandardAero had a net margin of 3.15% and a return on equity of 9.63%. StandardAero's quarterly revenue was up 20.4% compared to the same quarter last year. During the same quarter last year, the business posted $0.06 EPS. As a group, equities analysts forecast that StandardAero, Inc. will post 0.29 earnings per share for the current year.
StandardAero announced that its board has initiated a share buyback program on Wednesday, December 10th that permits the company to repurchase $450.00 million in shares. This repurchase authorization permits the company to purchase up to 5% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company's board of directors believes its stock is undervalued.
Analysts Set New Price Targets
Several research firms have recently weighed in on SARO. Wall Street Zen downgraded StandardAero from a "buy" rating to a "hold" rating in a research note on Saturday, October 11th. Susquehanna initiated coverage on shares of StandardAero in a research report on Wednesday, September 17th. They set a "positive" rating and a $34.00 target price for the company. Barclays assumed coverage on shares of StandardAero in a research note on Friday, September 12th. They issued an "equal weight" rating and a $32.00 target price for the company. Weiss Ratings restated a "hold (c)" rating on shares of StandardAero in a research note on Monday, December 22nd. Finally, Truist Financial began coverage on shares of StandardAero in a report on Friday, October 10th. They issued a "buy" rating and a $35.00 price objective for the company. Three equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $32.43.
View Our Latest Report on SARO
Hedge Funds Weigh In On StandardAero
A number of large investors have recently modified their holdings of SARO. Comerica Bank bought a new stake in StandardAero during the 1st quarter worth approximately $26,000. State of Wyoming purchased a new position in shares of StandardAero during the 3rd quarter valued at $27,000. First Horizon Advisors Inc. increased its holdings in shares of StandardAero by 100.4% in the second quarter. First Horizon Advisors Inc. now owns 1,016 shares of the company's stock worth $32,000 after purchasing an additional 509 shares during the period. First Horizon Corp purchased a new stake in shares of StandardAero in the third quarter worth $34,000. Finally, Parallel Advisors LLC raised its position 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 in the last quarter.
StandardAero Company Profile
(
Get Free Report)
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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