Russell Wayne Ford Sells 40,000 Shares of StandardAero (NYSE:SARO) Stock

StandardAero, Inc. (NYSE:SARO) CEO Russell Wayne Ford sold 40,000 shares of the company’s stock in a transaction dated Monday, January 5th. The shares were sold at an average price of $30.18, for a total transaction of $1,207,200.00. Following the transaction, the chief executive officer owned 966,955 shares in the company, valued at $29,182,701.90. This represents a 3.97% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link.

StandardAero Stock Performance

Shares of SARO opened at $30.59 on Friday. The company has a debt-to-equity ratio of 0.89, a current ratio of 2.18 and a quick ratio of 1.48. The stock has a 50-day moving average of $27.34 and a 200-day moving average of $27.89. The company has a market cap of $10.23 billion, a PE ratio of 55.61 and a beta of 1.04. StandardAero, Inc. has a one year low of $21.31 and a one year high of $31.97.

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

StandardAero declared that its Board of Directors has authorized a share repurchase program on Wednesday, December 10th that permits the company to buyback $450.00 million in outstanding shares. This buyback authorization permits the company to purchase up to 5% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s leadership believes its shares are undervalued.

Analyst Ratings Changes

A number of analysts have commented on SARO shares. Bank of America decreased their price target on shares of StandardAero from $33.00 to $30.00 and set a “neutral” rating for the company in a research note on Friday, November 14th. Susquehanna began coverage on shares of StandardAero in a report on Wednesday, September 17th. They issued a “positive” rating and a $34.00 target price on the stock. Truist Financial assumed coverage on shares of StandardAero in a research report on Friday, October 10th. They issued a “buy” rating and a $35.00 price target on the stock. Weiss Ratings reissued a “hold (c)” rating on shares of StandardAero in a report on Monday, December 22nd. Finally, Barclays began coverage on StandardAero in a report on Friday, September 12th. They issued an “equal weight” rating and a $32.00 target price on the stock. Three analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. According to MarketBeat.com, StandardAero has a consensus rating of “Hold” and a consensus target price of $32.43.

Hedge Funds Weigh In On StandardAero

Several hedge funds have recently modified their holdings of SARO. Comerica Bank bought a new position in shares of StandardAero in the first quarter valued at approximately $26,000. State of Wyoming bought a new position in StandardAero in the 3rd quarter valued at $27,000. Corebridge Financial Inc. grew its stake in StandardAero by 46.8% in the 1st quarter. Corebridge Financial Inc. now owns 1,079 shares of the company’s stock valued at $29,000 after purchasing an additional 344 shares during the period. First Horizon Advisors Inc. increased its position in shares of StandardAero by 100.4% during the 2nd quarter. First Horizon Advisors Inc. now owns 1,016 shares of the company’s stock valued at $32,000 after purchasing an additional 509 shares during the last quarter. Finally, First Horizon Corp bought a new stake in shares of StandardAero during the 3rd quarter worth $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.