Brokerages Set MDA Space Ltd. (TSE:MDA) Target Price at C$39.40

Shares of MDA Space Ltd. (TSE:MDA) have earned a consensus rating of “Buy” from the seven research firms that are currently covering the stock, Marketbeat Ratings reports. Six equities research analysts have rated the stock with a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month price target among brokerages that have issued ratings on the stock in the last year is C$39.40.

Several equities research analysts have recently issued reports on MDA shares. Royal Bank Of Canada reduced their price objective on shares of MDA Space from C$53.00 to C$45.00 and set an “outperform” rating on the stock in a research report on Tuesday, September 9th. Stifel Canada upgraded shares of MDA Space to a “strong-buy” rating in a research report on Tuesday, October 7th. Stifel Nicolaus set a C$48.00 price objective on shares of MDA Space and gave the company a “buy” rating in a research report on Wednesday, October 8th. Desjardins reduced their price objective on shares of MDA Space from C$56.00 to C$43.00 and set a “buy” rating on the stock in a research report on Tuesday, September 9th. Finally, Scotiabank reduced their price objective on shares of MDA Space from C$55.00 to C$43.00 and set an “outperform” rating on the stock in a research report on Tuesday, September 9th.

MDA Space Price Performance

TSE MDA opened at C$35.04 on Friday. MDA Space has a 12 month low of C$19.96 and a 12 month high of C$48.31. The stock has a market cap of C$4.38 billion, a price-to-earnings ratio of 38.93 and a beta of -0.99. The company’s 50 day moving average is C$38.05 and its two-hundred day moving average is C$33.89. The company has a current ratio of 0.83, a quick ratio of 1.00 and a debt-to-equity ratio of 34.94.

Insider Activity

In related news, Director Brendan Paddick sold 45,600 shares of the firm’s stock in a transaction on Tuesday, August 26th. The shares were sold at an average price of C$47.02, for a total value of C$2,143,929.60. Following the completion of the transaction, the director directly owned 1,136,353 shares of the company’s stock, valued at approximately C$53,426,772.65. This trade represents a 3.86% decrease in their ownership of the stock. Also, Director Michael Philip James Greenley sold 1,009,300 shares of the firm’s stock in a transaction on Monday, August 18th. The shares were sold at an average price of C$45.00, for a total transaction of C$45,418,500.00. Following the completion of the transaction, the director directly owned 117,037 shares of the company’s stock, valued at approximately C$5,266,665. This trade represents a 89.61% decrease in their ownership of the stock. Over the last 90 days, insiders have sold 1,334,150 shares of company stock valued at $59,797,443. Company insiders own 12.60% of the company’s stock.

About MDA Space

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.