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

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

A number of other analysts have also recently issued reports on the company. Weiss Ratings cut Madison Air Solutions from a “sell (d+)” rating to a “sell (d)” rating in a research report on Monday, September 28th. Wall Street Zen raised Madison Air Solutions to a “hold” rating in a report on Sunday, July 12th. Stifel Nicolaus boosted their target price on Madison Air Solutions from $35.00 to $36.00 and gave the stock a “buy” rating in a report on Monday. Citigroup dropped their price target on Madison Air Solutions from $40.00 to $36.00 and set a “buy” rating on the stock in a research note on Friday, November 6th. Finally, Wells Fargo & Company cut their price target on Madison Air Solutions from $46.00 to $33.00 and set an “overweight” rating for the company in a report on Monday, August 3rd. Two analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $41.30.

Madison Air Solutions Trading Down 2.6%

Shares of NYSE:MAIR opened at $23.88 on Monday. Madison Air Solutions has a 52-week low of $20.85 and a 52-week high of $44.50. The company has a market capitalization of $11.98 billion and a P/E ratio of 0.00. The company has a 50-day simple moving average of $24.16 and a 200 day simple moving average of $31.68. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.21 and a current ratio of 4.30.

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

Insider Buying and Selling

In related 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 cost of $27.84 per share, with a total value of $556,800.00. Following the acquisition, the director directly owned 36,713 shares in the company, 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 SEC, which is accessible through this link.

Institutional Investors Weigh In On Madison Air Solutions

A number of institutional investors have recently made changes to their positions in MAIR. Citadel Advisors LLC bought a new stake in Madison Air Solutions in the 2nd quarter valued at $251,481,000. Pictet Asset Management Holding SA lifted its holdings in shares of Madison Air Solutions by 42.9% during the third 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 stake in shares of Madison Air Solutions during the second quarter worth $67,411,000. Robeco Schweiz AG boosted its position in shares of Madison Air Solutions by 151.6% in the third quarter. Robeco Schweiz AG now owns 1,537,926 shares of the company’s stock valued at $37,833,000 after acquiring an additional 926,619 shares during the period. Finally, BlueCrest Capital Management Ltd bought a new stake in shares of Madison Air Solutions in the second quarter valued at about $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.