StandardAero (NYSE:SARO) to Repurchase $450.00 million in Shares

StandardAero (NYSE:SARO) declared that its Board of Directors has authorized a stock buyback plan on Wednesday, December 10th, RTT News reports. The company plans to repurchase $450.00 million in outstanding shares. This repurchase authorization allows the company to purchase up to 5% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board of directors believes its stock is undervalued.

Wall Street Analyst Weigh In

A number of analysts have commented on SARO shares. Bank of America lowered their target price on shares of StandardAero from $33.00 to $30.00 and set a “neutral” rating for the company in a report on Friday, November 14th. Truist Financial started coverage on StandardAero in a research note on Friday, October 10th. They set a “buy” rating and a $35.00 price objective for the company. Weiss Ratings raised StandardAero from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Monday. Barclays began coverage on StandardAero in a research report on Friday, September 12th. They set an “equal weight” rating and a $32.00 target price for the company. Finally, Sanford C. Bernstein reiterated an “outperform” rating on shares of StandardAero in a research report on Monday, November 24th. Three equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $32.43.

StandardAero Trading Up 2.1%

Shares of StandardAero stock traded up $0.58 during trading hours on Wednesday, hitting $27.42. The company’s stock had a trading volume of 2,091,145 shares, compared to its average volume of 1,411,576. The company has a market capitalization of $9.17 billion, a PE ratio of 49.85 and a beta of 1.16. 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 $26.87 and a 200 day moving average of $28.01. StandardAero has a 12 month low of $21.31 and a 12 month high of $31.97.

StandardAero (NYSE:SARO) last issued its quarterly earnings data on Monday, November 10th. The company reported $0.20 earnings per share (EPS) for the quarter, meeting the consensus estimate 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 during the quarter, compared to analyst estimates of $1.43 billion. During the same period in the previous year, the firm earned $0.06 EPS. StandardAero’s quarterly revenue was up 20.4% compared to the same quarter last year. Analysts predict that StandardAero will post 0.29 earnings per share for the current year.

Insider Buying and Selling at StandardAero

In other news, insider Alex Trapp sold 73,718 shares of the stock in a transaction on Thursday, September 18th. The shares were sold at an average price of $28.06, for a total transaction of $2,068,527.08. Following the completion of the sale, the insider owned 16,908 shares of the company’s stock, valued at $474,438.48. This represents a 81.34% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders have sold a total of 90,626 shares of company stock valued at $2,554,051 in the last ninety days. 1.90% of the stock is owned by corporate insiders.

StandardAero Company Profile

StandardAero, Inc provides aerospace engine aftermarket services for fixed and rotary wing aircraft in the United States, Canada, the United Kingdom, Rest of Europe, Asia, and internationally. It operates in two segments, Engine Services and Component Repair Services. The Engine Services segment provides a suite of aftermarket services, including maintenance, repair and overhaul, on-wing and field service support, asset management, and engineering and related solutions to customers in the commercial aerospace, military and helicopter, and business aviation end markets.