Madison Air Solutions (NYSE:MAIR) Given New $29.00 Price Target at Royal Bank Of Canada

Key Points

• Royal Bank of Canada cut its price target on Madison Air Solutions from $35 to $29, while maintaining an “outperform” rating. The new target implies 28.6% upside from the stock’s current price.
• Analyst views are mixed: MarketBeat reports a “Moderate Buy” consensus and an average target of $41.60, though some firms have downgraded the stock or lowered their targets.
• Madison Air Solutions beat quarterly earnings estimates, reporting $0.38 EPS versus $0.30 expected, while revenue rose 25.4% year over year to $1.13 billion.

Madison Air Solutions (NYSE:MAIR - Get Free Report) had its price target reduced by equities researchers at Royal Bank Of Canada from $35.00 to $29.00 in a research report issued to clients and investors on Friday, Benzinga reports. The firm presently has an "outperform" rating on the stock. Royal Bank Of Canada's target price would indicate a potential upside of 28.60% from the stock's current price.

Other equities research analysts have also issued reports about the company. Weiss Ratings lowered Madison Air Solutions from a "sell (d+)" rating to a "sell (d)" rating in a research report on Monday, September 28th. Citigroup decreased their price objective on shares of Madison Air Solutions from $49.00 to $40.00 and set a "buy" rating for the company in a report on Monday, October 12th. Wells Fargo & Company lowered their target price on shares of Madison Air Solutions from $46.00 to $33.00 and set an "overweight" rating for the company in a research note on Monday, August 3rd. Zacks Research cut shares of Madison Air Solutions from a "hold" rating to a "strong sell" rating in a report on Friday, October 9th. Finally, Stifel Nicolaus set a $35.00 price target on shares of Madison Air Solutions in a research report on Monday, October 19th. Two research analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating, three have given a Hold rating and two have assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $41.60.

Madison Air Solutions Trading Up 5.3%

Madison Air Solutions stock traded up $1.13 during midday trading on Friday, hitting $22.55. The stock had a trading volume of 1,492,860 shares, compared to its average volume of 2,538,496. The business's fifty day moving average is $24.34. Madison Air Solutions has a 12 month low of $20.85 and a 12 month high of $44.50. The company has a market capitalization of $11.31 billion and a PE ratio of 0.00. The company has a debt-to-equity ratio of 0.84, a quick ratio of 1.21 and a current ratio of 1.82.

Madison Air Solutions (NYSE:MAIR - Get Free Report) last released its earnings results on Thursday, November 5th. The company reported $0.38 EPS for the quarter, topping analysts' consensus estimates of $0.30 by $0.08. The firm had revenue of $1.13 billion for the quarter. The business's quarterly revenue was up 25.4% on a year-over-year basis. On average, equities analysts anticipate that Madison Air Solutions will post 1.06 EPS for the current fiscal year.

Insider Transactions at Madison Air Solutions

In related news, Director Hudson La Force, III acquired 20,000 shares of the stock in a transaction that occurred on Tuesday, August 25th. The stock was purchased at an average cost of $27.84 per share, for a total transaction of $556,800.00. Following the purchase, the director directly owned 36,713 shares in the company, valued at $1,022,089.92. This represents a 119.67% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through this link.

Hedge Funds Weigh In On Madison Air Solutions

Several hedge funds and other institutional investors have recently modified their holdings of the company. Readystate Asset Management LP acquired a new position in Madison Air Solutions during the 2nd quarter valued at about $16,029,000. Squarepoint Ops LLC acquired a new stake in shares of Madison Air Solutions in the second quarter valued at approximately $3,118,000. Citadel Advisors LLC acquired a new stake in shares of Madison Air Solutions in the second quarter valued at approximately $251,481,000. State Street Corp acquired a new stake in shares of Madison Air Solutions in the second quarter valued at approximately $16,558,000. Finally, Alyeska Investment Group L.P. bought a new stake in shares of Madison Air Solutions during the second quarter valued at approximately $67,411,000.

Madison Air Solutions Company Profile

We take up to 25,000 breaths a day and spend up to 90% of our lives indoors, often breathing air that's two to five times more polluted than outdoor air. Clean air is absolutely essential to human life, yet most people rarely think about the air we breathe at home, in our schools, in healthcare facilities and in the workplace. Poor air quality doesn't just affect comfort; it undermines health, productivity and performance. Improving air quality is a fundamental principle that is a key tenet in everything we do.

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