Scotiabank Lowers MDA Space (TSE:MDA) Price Target to C$40.00

MDA Space (TSE:MDA) had its target price lowered by equities researchers at Scotiabank from C$43.00 to C$40.00 in a note issued to investors on Friday,BayStreet.CA reports. The brokerage presently has an “outperform” rating on the stock. Scotiabank’s target price points to a potential upside of 46.09% from the company’s current price.

Other equities analysts have also recently issued reports about the stock. Canaccord Genuity Group reduced their price objective on shares of MDA Space from C$54.00 to C$47.00 in a research report on Tuesday, September 9th. Stifel Canada raised shares of MDA Space to a “strong-buy” rating in a report on Tuesday, October 7th. Stifel Nicolaus set a C$48.00 price target on shares of MDA Space and gave the company a “buy” rating in a research note on Wednesday, October 8th. Royal Bank Of Canada lowered their price target on shares of MDA Space from C$53.00 to C$45.00 and set an “outperform” rating on the stock in a report on Tuesday, September 9th. Finally, Desjardins reduced their price objective on MDA Space from C$56.00 to C$43.00 and set a “buy” rating for the company in a report on Tuesday, September 9th. One research analyst has rated the stock with a Strong Buy rating and six have issued a Buy rating to the company. According to MarketBeat, MDA Space presently has a consensus rating of “Buy” and a consensus price target of C$38.70.

MDA Space Stock Performance

Shares of TSE MDA opened at C$27.38 on Friday. The company has a current ratio of 0.83, a quick ratio of 1.00 and a debt-to-equity ratio of 34.94. The company has a market capitalization of C$3.42 billion, a P/E ratio of 30.42 and a beta of -0.99. MDA Space has a 12 month low of C$19.96 and a 12 month high of C$48.31. The stock has a 50 day moving average of C$36.07 and a 200-day moving average of C$34.43.

Insiders Place Their Bets

In other MDA Space news, Director Michael Philip James Greenley sold 1,009,300 shares of MDA Space stock in a transaction dated Monday, August 18th. The shares were sold at an average price of C$45.00, for a total value of C$45,418,500.00. Following the completion of the sale, the director owned 117,037 shares in the company, valued at C$5,266,665. The trade was a 89.61% decrease in their position. Also, insider Guillaume Lavoie bought 1,220 shares of the firm’s stock in a transaction on Tuesday, September 9th. The shares were acquired at an average price of C$33.91 per share, for a total transaction of C$41,370.20. Following the transaction, the insider owned 4,562 shares in the company, valued at approximately C$154,697.42. This represents a 36.51% increase in their ownership of the stock. Over the last ninety days, insiders have sold 1,334,150 shares of company stock worth $59,797,443. 12.60% of the stock is currently owned by insiders.

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.