MDA Space (TSE:MDA) Stock Rating Upgraded by Scotiabank

MDA Space (TSE:MDA) was upgraded by investment analysts at Scotiabank from a “hold” rating to a “strong-buy” rating in a research note issued to investors on Tuesday, Marketbeat Ratings reports. The firm currently has a C$55.00 price target on the stock, up from their previous price target of C$39.00. Scotiabank’s price objective would suggest a potential upside of 19.10% from the company’s previous close.

Several other equities research analysts have also weighed in on the company. Royal Bank Of Canada raised their price objective on MDA Space from C$35.00 to C$42.00 and gave the stock an “outperform” rating in a research note on Thursday, July 3rd. BMO Capital Markets upped their target price on MDA Space from C$33.00 to C$53.00 and gave the company an “outperform” rating in a report on Tuesday. Canaccord Genuity Group increased their price target on MDA Space from C$36.00 to C$45.00 and gave the company a “buy” rating in a research report on Friday, July 11th. Finally, Desjardins boosted their price objective on MDA Space from C$40.00 to C$55.00 and gave the stock a “buy” rating in a report on Tuesday. Five research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Buy” and a consensus target price of C$43.22.

MDA Space Trading Up 3.7%

Shares of TSE:MDA opened at C$46.18 on Tuesday. The company has a debt-to-equity ratio of 34.94, a quick ratio of 1.00 and a current ratio of 0.83. The stock has a market capitalization of C$5.63 billion, a price-to-earnings ratio of 82.08 and a beta of 0.02. MDA Space has a 1-year low of C$11.94 and a 1-year high of C$47.84. The company has a 50 day moving average price of C$35.51 and a 200 day moving average price of C$29.03.

Insider Buying and Selling at MDA Space

In related news, Director Michael Philip James Greenley sold 200,000 shares of the stock in a transaction dated Wednesday, June 11th. The stock was sold at an average price of C$29.04, for a total value of C$5,807,400.00. Also, Senior Officer Minda Marie Suchan sold 40,000 shares of the firm’s stock in a transaction dated Friday, June 20th. The stock was sold at an average price of C$30.64, for a total value of C$1,225,608.00. Insiders have sold a total of 306,000 shares of company stock valued at $9,024,768 in the last ninety days. Company insiders own 12.60% of the company’s stock.

MDA Space Company Profile

MDA Space Ltd, formerly MDA Ltd, is a global space company. The Company is a robotics, satellite systems and Geo intelligence provider. It provides communications satellites and earth and space observation. It is also involved in space exploration and infrastructure. Its software, AURORA, is a digital satellite product line providing critical new solutions to operators.