Madison Air Solutions (NYSE:MAIR) Stock Price Target Lowered at Royal Bank Of Canada

Key Points

• Royal Bank of Canada lowered Madison Air Solutions’ price target from $38 to $35 while maintaining an “outperform” rating, implying approximately 48% upside from the $23.64 share price.
• Analyst sentiment remains mixed but leans positive: MarketBeat reports a consensus “Moderate Buy” rating and an average price target of $42.80, despite several recent target cuts and downgrades.
• Madison Air Solutions reported quarterly EPS of $0.31, beating estimates of $0.24, while revenue rose 20.9% year over year to $991.3 million; a company director also purchased 20,000 shares.

Madison Air Solutions (NYSE:MAIR - Get Free Report) had its target price reduced by equities research analysts at Royal Bank Of Canada from $38.00 to $35.00 in a research report issued on Wednesday, Benzinga reports. The brokerage presently has an "outperform" rating on the stock. Royal Bank Of Canada's price target would suggest a potential upside of 48.05% from the company's current price.

A number of other research firms also recently weighed in on MAIR. Citigroup decreased their price target on Madison Air Solutions from $49.00 to $40.00 and set a "buy" rating for the company in a research note on Monday. Weiss Ratings cut Madison Air Solutions from a "sell (d+)" rating to a "sell (d)" rating in a research note on Monday, September 28th. Zacks Research cut Madison Air Solutions from a "hold" rating to a "strong sell" rating in a research note on Friday, October 9th. Wall Street Zen raised Madison Air Solutions to a "hold" rating in a report on Sunday, July 12th. Finally, Wells Fargo & Company decreased 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. Two analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating, three have assigned a Hold rating and two have given a Sell rating to the company's stock. According to MarketBeat, Madison Air Solutions presently has a consensus rating of "Moderate Buy" and an average price target of $42.80.

Madison Air Solutions Trading Down 1.8%

Shares of NYSE MAIR traded down $0.44 during mid-day trading on Wednesday, hitting $23.64. The company had a trading volume of 139,460 shares, compared to its average volume of 2,557,830. The company has a market cap of $11.86 billion and a P/E ratio of 0.00. The company has a 50-day moving average price of $26.31. The company has a quick ratio of 1.21, a current ratio of 1.82 and a debt-to-equity ratio of 0.84. Madison Air Solutions has a one year low of $22.80 and a one year high of $44.50.

Madison Air Solutions (NYSE:MAIR - Get Free Report) last released its earnings results on Thursday, July 30th. The company reported $0.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.24 by $0.07. The company had revenue of $991.30 million for the quarter. During the same quarter in the previous year, the firm earned $0.24 EPS. The business's quarterly revenue was up 20.9% compared to the same quarter last year. Sell-side analysts expect that Madison Air Solutions will post 1.06 earnings per share for the current fiscal year.

Insider Transactions at Madison Air Solutions

In other news, Director Hudson La Force, III bought 20,000 shares of the business's stock in a transaction that occurred on 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 purchase, the director owned 36,713 shares of the company's stock, valued at approximately $1,022,089.92. This trade represents a 119.67% increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link.

Hedge Funds Weigh In On Madison Air Solutions

A number of institutional investors have recently bought and sold shares of MAIR. NewEdge Advisors LLC acquired a new stake in shares of Madison Air Solutions in the second quarter valued at approximately $94,000. Engineers Gate Manager LP bought a new position in shares of Madison Air Solutions during the 2nd quarter worth approximately $1,503,000. Bank of New York Mellon Corp acquired a new position in shares of Madison Air Solutions during the 2nd quarter worth approximately $1,659,000. Squarepoint Ops LLC acquired a new position in shares of Madison Air Solutions during the 2nd quarter worth approximately $3,118,000. Finally, Madison Asset Management LLC acquired a new position in shares of Madison Air Solutions during the 2nd quarter worth approximately $3,215,000.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.