MDA Space (TSE:MDA) Price Target Lowered to C$38.00 at Royal Bank Of Canada

MDA Space (TSE:MDA) had its price target decreased by Royal Bank Of Canada from C$45.00 to C$38.00 in a research note released on Monday,BayStreet.CA reports.

Other research analysts have also issued reports about the stock. Stifel Canada upgraded shares of MDA Space to a “strong-buy” rating in a report on Tuesday, October 7th. Canaccord Genuity Group lowered their price target on shares of MDA Space from C$54.00 to C$47.00 in a report on Tuesday, September 9th. Stifel Nicolaus set a C$48.00 price objective on shares of MDA Space and gave the company a “buy” rating in a research note on Wednesday, October 8th. Desjardins decreased their target price 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, BMO Capital Markets lowered their target price on shares of MDA Space from C$40.00 to C$36.00 in a research note on Friday, October 31st. One research analyst has rated the stock with a Strong Buy rating and six have given a Buy rating to the stock. According to MarketBeat, MDA Space presently has a consensus rating of “Buy” and a consensus price target of C$38.89.

MDA Space Stock Down 3.7%

Shares of TSE:MDA opened at C$21.44 on Monday. The company has a quick ratio of 1.00, a current ratio of 0.83 and a debt-to-equity ratio of 34.94. The company has a market capitalization of C$2.68 billion, a P/E ratio of 23.82 and a beta of -0.86. MDA Space has a 52-week low of C$19.96 and a 52-week high of C$48.31. The stock’s fifty day simple moving average is C$31.70 and its 200-day simple moving average is C$34.32.

Insider Activity at MDA Space

In related news, Director Brendan Paddick sold 54,400 shares of the company’s stock in a transaction that occurred on Monday, August 25th. The shares were sold at an average price of C$45.09, for a total transaction of C$2,452,727.36. Following the completion of the transaction, the director owned 1,181,953 shares of the company’s stock, valued at approximately C$53,290,596.72. This represents a 4.40% decrease in their ownership of the stock. Also, insider Guillaume Lavoie purchased 1,220 shares of the business’s stock in a transaction on Tuesday, September 9th. The shares were bought at an average cost of C$33.91 per share, for a total transaction of C$41,370.20. Following the purchase, the insider owned 4,562 shares of the company’s stock, valued at C$154,697.42. This trade represents a 36.51% increase in their ownership of the stock. Corporate 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.