Madison Air Solutions (NYSE:MAIR) Shares Down 8.6% – Here’s What Happened

Shares of Madison Air Solutions Corporation (NYSE:MAIR) were down 8.6% during mid-day trading on Thursday . The company traded as low as $27.38 and last traded at $28.93. Approximately 1,167,701 shares traded hands during mid-day trading, a decline of 51% from the average daily volume of 2,406,972 shares. The stock had previously closed at $31.64.

Wall Street Analyst Weigh In

Several research firms have commented on MAIR. Robert W. Baird started coverage on shares of Madison Air Solutions in a research report on Monday, May 11th. They set an “outperform” rating and a $48.00 target price on the stock. Wells Fargo & Company decreased their price target on Madison Air Solutions from $47.00 to $46.00 and set an “overweight” rating for the company in a research report on Friday, July 10th. Vertical Research initiated coverage on Madison Air Solutions in a report on Monday, May 11th. They set a “buy” rating and a $50.00 price target on the stock. William Blair started coverage on Madison Air Solutions in a research report on Monday, May 11th. They set an “outperform” rating for the company. Finally, Wolfe Research started coverage on shares of Madison Air Solutions in a report on Monday, May 11th. They issued a “peer perform” rating on the stock. Two investment analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $46.80.

Madison Air Solutions Price Performance

The stock has a market cap of $14.55 billion and a price-to-earnings ratio of 0.00. The business’s 50 day moving average price is $38.09.

Madison Air Solutions (NYSE:MAIR) last posted its quarterly earnings results on Thursday, July 30th. The company reported $0.31 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.24 by $0.07. The business had revenue of $991.30 million during the quarter. The firm’s revenue for the quarter was up 20.9% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.24 earnings per share.

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.