Madison Air Solutions (NYSE:MAIR) Hits New 12-Month Low - Time to Sell?

Key Points

• Madison Air Solutions shares fell to a new 52-week low, trading as low as $22.91 and recently changing hands near $23.74, well below the 50-day moving average of $30.03.
• Analyst sentiment has weakened, with several firms cutting price targets or ratings, although the stock still carries a “Moderate Buy” consensus and an average target of $44.00.
• The company reported better-than-expected quarterly earnings of $0.31 per share and revenue growth of 20.9% year over year; meanwhile, a director purchased 20,000 shares, and several institutional investors initiated sizable positions.

Madison Air Solutions Corporation (NYSE:MAIR - Get Free Report) shares reached a new 52-week low on Wednesday . The company traded as low as $22.91 and last traded at $23.74, with a volume of 4869418 shares traded. The stock had previously closed at $23.66.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on MAIR. Wall Street Zen upgraded Madison Air Solutions to a "hold" rating in a research note on Sunday, July 12th. Royal Bank Of Canada lowered their price objective on Madison Air Solutions from $47.00 to $38.00 and set an "outperform" rating for the company in a research note on Friday, July 31st. Weiss Ratings lowered Madison Air Solutions from a "hold (c-)" rating to a "sell (d+)" rating in a report on Monday, August 31st. Stifel Nicolaus dropped their target price on Madison Air Solutions from $49.00 to $41.00 and set a "buy" rating on the stock in a report on Friday, July 31st. Finally, Zacks Research cut Madison Air Solutions from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, July 21st. Two investment analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating, four have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $44.00.

Madison Air Solutions Trading Up 0.3%

The company has a current ratio of 1.82, a quick ratio of 1.21 and a debt-to-equity ratio of 0.84. The firm has a fifty day moving average of $30.03. The company has a market capitalization of $11.91 billion and a P/E ratio of 0.00.

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 analysts' consensus estimates of $0.24 by $0.07. The firm had revenue of $991.30 million during the quarter. Madison Air Solutions's revenue was up 20.9% on a year-over-year basis. During the same period in the prior year, the company earned $0.24 earnings per share. As a group, research analysts expect that Madison Air Solutions Corporation will post 1.09 EPS for the current fiscal year.

Insider Buying and Selling at Madison Air Solutions

In other news, Director Hudson La Force, III purchased 20,000 shares of the business's stock in a transaction dated Tuesday, August 25th. The stock was bought at an average price 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 $1,022,089.92. The trade was a 119.67% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Institutional Investors Weigh In On Madison Air Solutions

Several institutional investors have recently added to or reduced their stakes in the business. Citadel Advisors LLC bought a new position in Madison Air Solutions during the second quarter worth about $251,481,000. Alyeska Investment Group L.P. bought a new stake in shares of Madison Air Solutions in the second quarter valued at approximately $67,411,000. BlueCrest Capital Management Ltd purchased a new stake in shares of Madison Air Solutions during the 2nd quarter valued at approximately $23,790,000. Readystate Asset Management LP purchased a new stake in shares of Madison Air Solutions during the 2nd quarter valued at approximately $16,029,000. Finally, Amundi bought a new position in Madison Air Solutions in the 2nd quarter worth approximately $6,406,000.

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.