Canadian Imperial Bank of Commerce Cuts MDA Space (TSE:MDA) Price Target to C$59.00

MDA Space (TSE:MDA) had its price target cut by Canadian Imperial Bank of Commerce from C$67.00 to C$59.00 in a research report report published on Wednesday,BayStreet.CA reports.

Other equities analysts have also issued research reports about the stock. Morgan Stanley increased their target price on shares of MDA Space from C$51.00 to C$58.00 in a report on Friday, May 8th. ATB Cormark Capital Markets lowered their price target on shares of MDA Space from C$67.00 to C$62.00 and set a “sector perform” rating for the company in a research note on Monday, June 22nd. Jefferies Financial Group upgraded shares of MDA Space to a “strong-buy” rating in a research report on Wednesday, June 10th. Canaccord Genuity Group upped their price target on shares of MDA Space from C$56.00 to C$65.00 and gave the company a “buy” rating in a research report on Monday, June 22nd. Finally, Desjardins raised their price objective on MDA Space from C$66.00 to C$70.00 and gave the company a “buy” rating in a research note on Monday, June 22nd. Two analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average price target of C$64.70.

MDA Space Stock Down 4.1%

Shares of MDA opened at C$42.35 on Wednesday. MDA Space has a 1 year low of C$20.85 and a 1 year high of C$67.90. The company has a debt-to-equity ratio of 20.62, a current ratio of 0.80 and a quick ratio of 1.00. The stock has a 50 day simple moving average of C$54.58 and a two-hundred day simple moving average of C$44.16. The firm has a market cap of C$5.88 billion, a P/E ratio of 53.37 and a beta of -0.34.

MDA Space (TSE:MDA) last posted its quarterly earnings results on Thursday, May 7th. The company reported C$0.38 EPS for the quarter. The firm had revenue of C$464.10 million for the quarter. MDA Space had a net margin of 6.02% and a return on equity of 7.24%. On average, analysts forecast that MDA Space will post 0.9605084 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, insider Minda Marie Suchan sold 40,000 shares of the firm’s stock in a transaction that occurred on Wednesday, June 10th. The shares were sold at an average price of C$53.22, for a total value of C$2,128,800.00. Following the transaction, the insider owned 49,784 shares in the company, valued at approximately C$2,649,504.48. This trade represents a 44.55% decrease in their ownership of the stock. Also, insider Guillaume Lavoie sold 688 shares of MDA Space stock in a transaction on Friday, June 12th. The stock was sold at an average price of C$55.62, for a total transaction of C$38,266.56. Following the completion of the transaction, the insider directly owned 5,569 shares in the company, valued at approximately C$309,747.78. The trade was a 11.00% decrease in their ownership of the stock. In the last three months, insiders sold 119,269 shares of company stock worth $6,318,903. 12.60% of the stock is owned by company insiders.

MDA Space Company Profile

Building the space between proven and possible, MDA Space (TSX:MDA; NYSE:MDA) is a trusted mission partner to the global defence and space industry. A robotics, satellite systems and geointelligence pioneer with a 55-year+ story of world firsts and more than 450 missions, MDA Space is a global leader in communications satellites, Earth and space observation, and space exploration and infrastructure. The global MDA Space team of more than 4,000 space experts has the knowledge and know-how to turn an audacious customer vision into an achievable mission – bringing to bear a one-of-a-kind mix of experience, engineering excellence and wide-eyed wonder that’s been in our DNA since day one.