Madison Air Solutions (NYSE:MAIR) Given New $29.00 Price Target at Royal Bank Of Canada

Madison Air Solutions (NYSE:MAIR) had its price objective reduced by research analysts at Royal Bank Of Canada from $35.00 to $29.00 in a note issued to investors on Friday, Benzinga reports. The brokerage currently has an “outperform” rating on the stock. Royal Bank Of Canada‘s price target suggests a potential upside of 28.60% from the company’s previous close.

MAIR has been the topic of several other research reports. Citigroup dropped their target price on Madison Air Solutions from $49.00 to $40.00 and set a “buy” rating on the stock in a report on Monday, October 12th. Stifel Nicolaus set a $35.00 price target on Madison Air Solutions in a research note on Monday, October 19th. Wells Fargo & Company lowered their price target on 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. Zacks Research cut Madison Air Solutions from a “hold” rating to a “strong sell” rating in a research report on Friday, October 9th. 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 research analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating, three have issued a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, Madison Air Solutions has a consensus rating of “Moderate Buy” and a consensus price target of $41.60.

Madison Air Solutions Stock Up 5.3%

Madison Air Solutions stock traded up $1.13 during trading hours on Friday, hitting $22.55. 1,492,860 shares of the company traded hands, compared to its average volume of 2,538,496. The company has a market cap of $11.31 billion and a price-to-earnings ratio of 0.00. 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’s 50-day moving average price is $24.34. Madison Air Solutions has a 1-year low of $20.85 and a 1-year high of $44.50.

Madison Air Solutions (NYSE:MAIR) last issued its quarterly earnings results on Thursday, November 5th. The company reported $0.38 earnings per share for the quarter, topping analysts’ consensus estimates of $0.30 by $0.08. The company had revenue of $1.13 billion during the quarter. The firm’s revenue for the quarter was up 25.4% compared to the same quarter last year. On average, equities research analysts predict that Madison Air Solutions will post 1.06 earnings per share for the current year.

Insider Buying and Selling

In other Madison Air Solutions 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, with a total value of $556,800.00. Following the completion of the purchase, the director directly owned 36,713 shares in the company, valued at approximately $1,022,089.92. This trade represents a 119.67% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this link.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Simplex Trading LLC increased its holdings in shares of Madison Air Solutions by 20.6% in the third quarter. Simplex Trading LLC now owns 2,815 shares of the company’s stock valued at $69,000 after buying an additional 481 shares in the last quarter. NewEdge Advisors LLC bought a new stake in shares of Madison Air Solutions during the 2nd quarter worth $94,000. Inspire Investing LLC bought a new stake in shares of Madison Air Solutions during the 3rd quarter worth $766,000. Engineers Gate Manager LP acquired a new position in shares of Madison Air Solutions in the 2nd quarter worth $1,503,000. Finally, Bank of New York Mellon Corp acquired a new position in shares of Madison Air Solutions in the 2nd quarter worth $1,659,000.

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.