Madison Air Solutions (NYSE:MAIR) Raised to Hold at Zacks Research

Madison Air Solutions (NYSE:MAIR) was upgraded by stock analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a report released on Monday, Zacks reports.

A number of other brokerages also recently weighed in on MAIR. Wall Street Zen raised shares of Madison Air Solutions to a “hold” rating in a report on Sunday, July 12th. Wells Fargo & Company decreased their price target 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. Stifel Nicolaus boosted their price objective on shares of Madison Air Solutions from $35.00 to $36.00 and gave the stock a “buy” rating in a report on Monday. Weiss Ratings downgraded shares of Madison Air Solutions from a “sell (d+)” rating to a “sell (d)” rating in a report on Monday, September 28th. Finally, Royal Bank Of Canada cut their price objective on shares of Madison Air Solutions from $35.00 to $29.00 and set an “outperform” rating for the company in a research report on Friday, November 6th. Two equities research analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Madison Air Solutions presently has an average rating of “Moderate Buy” and an average target price of $41.30.

Madison Air Solutions Price Performance

MAIR opened at $23.88 on Monday. Madison Air Solutions has a 1-year low of $20.85 and a 1-year high of $44.50. The company has a debt-to-equity ratio of 0.51, a current ratio of 4.30 and a quick ratio of 1.21. The business has a 50 day moving average of $24.16 and a 200-day moving average of $31.68.

Madison Air Solutions (NYSE:MAIR) last announced its quarterly earnings data on Thursday, November 5th. The company reported $0.38 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.30 by $0.08. Madison Air Solutions had a net margin of 5.09% and a return on equity of 17.43%. The business had revenue of $1.13 billion for the quarter. The business’s revenue for the quarter was up 25.4% compared to the same quarter last year. On average, equities analysts expect that Madison Air Solutions will post 1.09 EPS for the current fiscal year.

Insider Transactions at Madison Air Solutions

In other Madison Air Solutions news, Director Hudson La Force, III purchased 20,000 shares of the stock in a transaction on Tuesday, August 25th. The shares were purchased at an average price of $27.84 per share, with a total value of $556,800.00. Following the acquisition, the director directly owned 36,713 shares of the company’s stock, valued at $1,022,089.92. This represents a 119.67% increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in MAIR. Citadel Advisors LLC bought a new position in Madison Air Solutions during the second quarter worth about $251,481,000. Pictet Asset Management Holding SA raised its holdings in shares of Madison Air Solutions by 42.9% in the 3rd quarter. Pictet Asset Management Holding SA now owns 6,337,704 shares of the company’s stock worth $155,908,000 after buying an additional 1,902,991 shares in the last quarter. Alyeska Investment Group L.P. acquired a new position in shares of Madison Air Solutions in the 2nd quarter worth approximately $67,411,000. Robeco Schweiz AG raised its holdings in shares of Madison Air Solutions by 151.6% in the 3rd quarter. Robeco Schweiz AG now owns 1,537,926 shares of the company’s stock worth $37,833,000 after buying an additional 926,619 shares in the last quarter. Finally, BlueCrest Capital Management Ltd bought a new position in shares of Madison Air Solutions during the 2nd quarter worth approximately $23,790,000.

About Madison Air Solutions

Madison Air Solutions designs and manufactures heating, ventilation and air-conditioning (HVAC) equipment and indoor air quality systems. Its offerings include engineered air-handling solutions and related products used to manage air movement, temperature and filtration in buildings. The company serves commercial and industrial applications, including facilities that require specialized climate control and ventilation. Its products are used in settings such as data centers, healthcare facilities, educational institutions and other large buildings.