StandardAero (NYSE:SARO) CEO Sells $1,207,200.00 in Stock

StandardAero, Inc. (NYSE:SARO) CEO Russell Wayne Ford sold 40,000 shares of the company’s stock in a transaction on Monday, January 5th. The stock was sold at an average price of $30.18, for a total transaction of $1,207,200.00. Following the completion of the transaction, the chief executive officer directly owned 966,955 shares in the company, valued at $29,182,701.90. This trade represents a 3.97% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website.

StandardAero Stock Down 0.1%

SARO traded down $0.04 during trading on Wednesday, reaching $30.34. 1,605,924 shares of the stock traded hands, compared to its average volume of 2,188,043. The stock’s 50-day simple moving average is $27.26 and its two-hundred day simple moving average is $27.85. The company has a debt-to-equity ratio of 0.89, a current ratio of 2.18 and a quick ratio of 1.48. StandardAero, Inc. has a fifty-two week low of $21.31 and a fifty-two week high of $31.97. The stock has a market cap of $10.15 billion, a price-to-earnings ratio of 55.16 and a beta of 1.04.

StandardAero (NYSE:SARO) last issued its earnings results on Monday, November 10th. The company reported $0.20 earnings per share for the quarter, hitting the consensus estimate of $0.20. The company had revenue of $1.50 billion for the quarter, compared to analyst estimates of $1.43 billion. StandardAero had a return on equity of 9.63% and a net margin of 3.15%.The business’s revenue was up 20.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.06 EPS. As a group, equities research analysts expect that StandardAero, Inc. will post 0.29 EPS for the current year.

StandardAero declared that its Board of Directors has approved a stock buyback program on Wednesday, December 10th that allows the company to buyback $450.00 million in outstanding shares. This buyback authorization allows the company to reacquire up to 5% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s leadership believes its stock is undervalued.

Wall Street Analyst Weigh In

Several research firms have commented on SARO. 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 on the stock. Wall Street Zen downgraded StandardAero from a “buy” rating to a “hold” rating in a research note on Saturday, October 11th. Truist Financial initiated coverage on StandardAero in a research note on Friday, October 10th. They issued a “buy” rating and a $35.00 price objective on the stock. Barclays began coverage on StandardAero in a report on Friday, September 12th. They issued an “equal weight” rating and a $32.00 target price for the company. Finally, Zacks Research upgraded StandardAero from a “strong sell” rating to a “hold” rating in a report on Wednesday, November 12th. Three 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.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of SARO. Comerica Bank bought a new position in StandardAero during the first quarter worth $26,000. State of Wyoming acquired a new position in shares of StandardAero during the third quarter valued at about $27,000. First Horizon Advisors Inc. lifted its stake 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 valued at $32,000 after buying an additional 509 shares during the period. Corebridge Financial Inc. grew its position in StandardAero by 46.8% during the first quarter. Corebridge Financial Inc. now owns 1,079 shares of the company’s stock worth $29,000 after buying an additional 344 shares in the last quarter. Finally, First Horizon Corp bought a new position in StandardAero during the third quarter valued at about $34,000.

About StandardAero

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.