Key Points
- CEO Russell Wayne Ford sold 40,000 StandardAero shares at an average price of $30.24, generating $1.21 million; his remaining direct ownership fell 9.17% to 395,986 shares.
- Ford has also sold shares in three other recent transactions, totaling roughly $2.76 million since July 1.
- StandardAero reported better-than-expected quarterly results, with $0.33 EPS and $1.63 billion in revenue, while analysts maintain a “Moderate Buy” consensus and a $34 average price target.
StandardAero, Inc. (NYSE:SARO - Get Free Report) CEO Russell Wayne Ford sold 10,969 shares of the firm's stock in a transaction on Monday, August 3rd. The stock was sold at an average price of $30.04, for a total transaction of $329,508.76. Following the completion of the transaction, the chief executive officer directly owned 435,986 shares of the company's stock, valued at approximately $13,097,019.44. This represents a 2.45% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link.
Russell Wayne Ford also recently made the following trade(s):
- On Tuesday, August 4th, Russell Wayne Ford sold 40,000 shares of StandardAero stock. The stock was sold at an average price of $30.24, for a total transaction of $1,209,600.00.
- On Monday, July 6th, Russell Wayne Ford sold 40,000 shares of StandardAero stock. The shares were sold at an average price of $30.44, for a total transaction of $1,217,600.00.
- On Wednesday, July 1st, Russell Wayne Ford sold 40,000 shares of StandardAero stock. The shares were sold at an average price of $30.23, for a total value of $1,209,200.00.
StandardAero Price Performance
NYSE SARO opened at $30.87 on Thursday. The company has a market cap of $10.26 billion, a price-to-earnings ratio of 35.08 and a beta of 0.92. The company has a debt-to-equity ratio of 0.81, a current ratio of 2.12 and a quick ratio of 1.59. The stock's fifty day moving average price is $27.88 and its 200 day moving average price is $28.04. StandardAero, Inc. has a 1 year low of $23.83 and a 1 year high of $34.48.
StandardAero (NYSE:SARO - Get Free Report) last issued its quarterly earnings results on Thursday, May 7th. The company reported $0.33 EPS for the quarter, topping analysts' consensus estimates of $0.30 by $0.03. The company had revenue of $1.63 billion during the quarter, compared to analysts' expectations of $1.49 billion. StandardAero had a return on equity of 12.36% and a net margin of 4.71%.The firm's revenue was up 13.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.19 EPS. As a group, equities research analysts forecast that StandardAero, Inc. will post 1.42 earnings per share for the current year.
Institutional Investors Weigh In On StandardAero
Hedge funds have recently added to or reduced their stakes in the business. Allspring Global Investments Holdings LLC grew its position in StandardAero by 42.8% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 15,081,516 shares of the company's stock worth $395,890,000 after purchasing an additional 4,523,693 shares during the period. Price T Rowe Associates Inc. MD lifted its holdings in shares of StandardAero by 33.8% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 14,000,143 shares of the company's stock valued at $401,525,000 after buying an additional 3,540,167 shares during the period. Janus Henderson Group PLC lifted its holdings in shares of StandardAero by 7.3% in the 1st quarter. Janus Henderson Group PLC now owns 12,040,337 shares of the company's stock valued at $311,002,000 after buying an additional 816,276 shares during the period. T. Rowe Price Investment Management Inc. boosted its stake in shares of StandardAero by 11.1% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 11,984,551 shares of the company's stock worth $343,717,000 after buying an additional 1,194,488 shares during the last quarter. Finally, Wellington Management Group LLP boosted its stake in shares of StandardAero by 5.0% in the fourth quarter. Wellington Management Group LLP now owns 10,867,767 shares of the company's stock worth $311,688,000 after buying an additional 522,203 shares during the last quarter.
Analyst Ratings Changes
SARO has been the subject of several research analyst reports. Morgan Stanley set a $31.00 price objective on StandardAero in a research note on Wednesday, July 15th. Jefferies Financial Group lowered StandardAero from a "buy" rating to a "hold" rating and dropped their target price for the company from $34.00 to $30.00 in a research report on Tuesday, June 2nd. Weiss Ratings upgraded shares of StandardAero from a "hold (c-)" rating to a "hold (c)" rating in a report on Monday, June 29th. Zacks Research lowered shares of StandardAero from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, May 12th. Finally, Canadian Imperial Bank of Commerce restated an "outperform" rating and set a $39.00 price objective on shares of StandardAero in a research note on Friday, May 8th. Two analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and six have issued a Hold rating to the company. According to MarketBeat.com, StandardAero has a consensus rating of "Moderate Buy" and a consensus target price of $34.00.
View Our Latest Stock Analysis on StandardAero
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.
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