Madison Air Solutions (NYSE:MAIR) Raised to "Hold" at Zacks Research

Key Points

• Zacks Research upgraded Madison Air Solutions from “strong sell” to “hold.” Wall Street Zen also rates the stock “hold”; overall, analysts’ consensus is “Moderate Buy” with a $41.30 target price.
• Shares opened at $23.88, near the low end of their 52-week range of $20.85–$44.50. Several analysts have cut price targets, despite retaining positive ratings.
• The company beat quarterly earnings expectations, reporting EPS of $0.38 versus $0.30 expected, while revenue rose 25.4% year over year to $1.13 billion.

Madison Air Solutions (NYSE:MAIR - Get Free Report) was upgraded by analysts at Zacks Research from a "strong sell" rating to a "hold" rating in a report issued on Monday, Zacks reports.

Several other research analysts have also weighed in on MAIR. Wall Street Zen upgraded shares of Madison Air Solutions to a "hold" rating in a research note on Sunday, July 12th. Royal Bank Of Canada reduced their price objective on Madison Air Solutions from $35.00 to $29.00 and set an "outperform" rating for the company in a research report on Friday, November 6th. Wells Fargo & Company reduced their price objective on Madison Air Solutions from $46.00 to $33.00 and set an "overweight" rating for the company in a research report on Monday, August 3rd. Citigroup lowered their target price on Madison Air Solutions from $40.00 to $36.00 and set a "buy" rating on the stock in a research note on Friday, November 6th. Finally, Weiss Ratings downgraded Madison Air Solutions from a "sell (d+)" rating to a "sell (d)" rating in a research note on Monday, September 28th. Two analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $41.30.

Madison Air Solutions Stock Performance

Madison Air Solutions stock opened at $23.88 on Monday. Madison Air Solutions has a 52 week low of $20.85 and a 52 week high of $44.50. The company has a quick ratio of 1.21, a current ratio of 4.30 and a debt-to-equity ratio of 0.51. The company has a 50 day moving average price of $24.16 and a 200 day moving average price of $31.68.

Madison Air Solutions (NYSE:MAIR - Get Free Report) last announced its earnings results on Thursday, November 5th. The company reported $0.38 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.30 by $0.08. The company had revenue of $1.13 billion for the quarter. Madison Air Solutions had a net margin of 5.09% and a return on equity of 17.43%. Madison Air Solutions's quarterly revenue was up 25.4% on a year-over-year basis. On average, equities analysts forecast that Madison Air Solutions will post 1.09 earnings per share for the current year.

Insider Buying and Selling at Madison Air Solutions

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

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the company. Simplex Trading LLC lifted its position in Madison Air Solutions by 20.6% during the 3rd quarter. Simplex Trading LLC now owns 2,815 shares of the company's stock worth $69,000 after acquiring an additional 481 shares during the last quarter. NewEdge Advisors LLC acquired a new stake in shares of Madison Air Solutions in the second quarter valued at about $94,000. Diversified Trust Co bought a new position in shares of Madison Air Solutions in the third quarter worth about $312,000. Inspire Investing LLC bought a new position in shares of Madison Air Solutions in the third quarter worth about $766,000. Finally, Engineers Gate Manager LP bought a new position in shares of Madison Air Solutions in the second quarter worth about $1,503,000.

About Madison Air Solutions

Madison Air Solutions designs and manufactures heating, ventilation and air-conditioning (HVAC) equipment and indoor air quality systems. Its offerings include engineered air-handling solutions and related products used to manage air movement, temperature and filtration in buildings. The company serves commercial and industrial applications, including facilities that require specialized climate control and ventilation. Its products are used in settings such as data centers, healthcare facilities, educational institutions and other large buildings.

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