Madison Air Solutions (NYSE:MAIR) Shares Gap Up – Here’s Why

Shares of Madison Air Solutions Corporation (NYSE:MAIR) gapped up prior to trading on Tuesday . The stock had previously closed at $24.97, but opened at $27.81. Madison Air Solutions shares last traded at $28.52, with a volume of 1,311,308 shares changing hands.

Analysts Set New Price Targets

Several brokerages have commented on MAIR. Wall Street Zen upgraded shares of Madison Air Solutions to a “hold” rating in a research report on Sunday, July 12th. Stifel Nicolaus decreased their price objective on Madison Air Solutions from $49.00 to $41.00 and set a “buy” rating for the company in a research note on Friday, July 31st. The Goldman Sachs Group began coverage on Madison Air Solutions in a report on Monday, May 11th. They issued a “neutral” rating and a $44.00 price objective for the company. Robert W. Baird began coverage on Madison Air Solutions in a report on Monday, May 11th. They set an “outperform” rating and a $48.00 target price on the stock. Finally, Zacks Research lowered Madison Air Solutions from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, July 21st. Two equities research analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $44.00.

Madison Air Solutions Stock Performance

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 company’s 50-day simple moving average is $33.51. The stock has a market cap of $14.20 billion and a price-to-earnings ratio of 0.00.

Madison Air Solutions (NYSE:MAIR) last posted its earnings results on Thursday, July 30th. The company reported $0.31 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.24 by $0.07. The business had revenue of $991.30 million during the quarter. During the same period last year, the firm posted $0.24 earnings per share. The company’s revenue for the quarter was up 20.9% on a year-over-year basis. On average, research analysts anticipate that Madison Air Solutions Corporation will post 1.11 EPS for the current year.

Insider Transactions at Madison Air Solutions

In related news, Director Force Andrew Hudson La III bought 20,000 shares of the company’s stock in a transaction on Tuesday, August 25th. The shares were purchased at an average cost of $27.84 per share, for a total transaction of $556,800.00. Following the acquisition, the director owned 36,713 shares of the company’s stock, valued at approximately $1,022,089.92. This represents a 119.67% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this link.

Institutional Investors Weigh In On Madison Air Solutions

Several institutional investors have recently added to or reduced their stakes in the stock. Bank of New York Mellon Corp bought a new position in Madison Air Solutions during the 2nd quarter worth about $1,659,000. Madison Asset Management LLC bought a new position in shares of Madison Air Solutions during the second quarter worth about $3,215,000. Amundi bought a new position in shares of Madison Air Solutions during the second quarter worth about $6,406,000. Readystate Asset Management LP acquired a new stake in Madison Air Solutions in the 2nd quarter valued at approximately $16,029,000. Finally, Alyeska Investment Group L.P. bought a new stake in Madison Air Solutions in the 2nd quarter valued at approximately $67,411,000.

About Madison Air Solutions

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.