Madison Air Solutions (NYSE:MAIR) Shares Gap Up - Here's What Happened

Key Points

• MAIR shares initially gapped up from a prior close of $31.28 to open at $32.80, but later traded at $29.50, down 5.1% on the session.
• Analyst sentiment remains a “Moderate Buy”, with an average price target of $44.00, though ratings include a recent downgrade by Zacks Research and target-price cuts from Wells Fargo.
• Madison Air Solutions reported quarterly EPS of $0.31, beating estimates by $0.07, while revenue rose 20.9% year over year to $991.3 million.

Madison Air Solutions Corporation (NYSE:MAIR - Get Free Report)'s stock price gapped up prior to trading on Monday . The stock had previously closed at $31.28, but opened at $32.80. Madison Air Solutions shares last traded at $29.50, with a volume of 768,355 shares traded.

Analysts Set New Price Targets

Several research analysts have commented on MAIR shares. Zacks Research downgraded shares of Madison Air Solutions from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, July 21st. Barclays started coverage on shares of Madison Air Solutions in a report on Monday, May 11th. They set an "overweight" rating and a $45.00 target price on the stock. Robert W. Baird started coverage on shares of Madison Air Solutions in a research report on Monday, May 11th. They issued an "outperform" rating and a $48.00 target price on the stock. Wells Fargo & Company decreased their target price on shares of Madison Air Solutions from $46.00 to $33.00 and set an "overweight" rating on the stock in a research report on Monday, August 3rd. Finally, William Blair initiated coverage on shares of Madison Air Solutions in a research note on Monday, May 11th. They issued an "outperform" rating for the company. Two equities research analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating, four have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Madison Air Solutions has a consensus rating of "Moderate Buy" and an average target price of $44.00.

Madison Air Solutions Trading Down 5.1%

The company has a quick ratio of 1.21, a current ratio of 1.82 and a debt-to-equity ratio of 0.84. The stock has a 50 day moving average of $35.40. The company has a market capitalization of $14.89 billion and a price-to-earnings ratio of 0.00.

Madison Air Solutions (NYSE:MAIR - Get Free Report) last announced its quarterly earnings data on Thursday, July 30th. The company reported $0.31 earnings per share for the quarter, beating the consensus estimate of $0.24 by $0.07. The company had revenue of $991.30 million during the quarter. The business's revenue was up 20.9% on a year-over-year basis. During the same period in the prior year, the firm earned $0.24 EPS. As a group, equities analysts anticipate that Madison Air Solutions Corporation will post 1.11 earnings per share for the current year.

Institutional Investors Weigh In On Madison Air Solutions

An institutional investor recently bought a new stake in Madison Air Solutions stock. Bank of New York Mellon Corp purchased a new position in Madison Air Solutions Corporation (NYSE:MAIR - Free Report) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 42,529 shares of the company's stock, valued at approximately $1,659,000.

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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