Madison Air Solutions (NYSE:MAIR) Shares Gap Up – Still a Buy?

Madison Air Solutions Corporation (NYSE:MAIR) shares 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 trading hands.

Wall Street Analyst Weigh In

Several brokerages recently commented on MAIR. Jefferies Financial Group initiated coverage on Madison Air Solutions in a research note on Tuesday, May 12th. They set a “hold” rating and a $45.00 price objective on the stock. Wells Fargo & Company decreased their target price on Madison Air Solutions from $46.00 to $33.00 and set an “overweight” rating for the company in a research note on Monday, August 3rd. Zacks Research downgraded Madison Air Solutions from a “strong-buy” rating to a “hold” rating in a report on Tuesday, July 21st. Barclays began coverage on Madison Air Solutions in a research report on Monday, May 11th. They set an “overweight” rating and a $45.00 price target on the stock. Finally, Wall Street Zen upgraded Madison Air Solutions to a “hold” rating in a report on Sunday, July 12th. Two investment analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat, Madison Air Solutions currently has a consensus rating of “Moderate Buy” and a consensus price target of $44.00.

Madison Air Solutions Price Performance

The company has a 50-day simple moving average of $33.90. The company has a debt-to-equity ratio of 0.84, a quick ratio of 1.21 and a current ratio of 1.82. The firm has a market capitalization of $13.93 billion and a price-to-earnings ratio of 0.00.

Madison Air Solutions (NYSE:MAIR) last released its earnings results on Thursday, July 30th. The company reported $0.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.24 by $0.07. The company had revenue of $991.30 million for the quarter. The business’s quarterly revenue was up 20.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.24 EPS. As a group, analysts forecast that Madison Air Solutions Corporation will post 1.11 EPS for the current fiscal year.

Institutional Investors Weigh In On Madison Air Solutions

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

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.