MDA Space (TSE:MDA) Price Target Raised to C$72.00

MDA Space (TSE:MDA) had its price objective boosted by Desjardins from C$70.00 to C$72.00 in a report released on Wednesday,BayStreet.CA reports. The brokerage currently has a buy rating on the stock.

Several other research firms have also recently commented on MDA. Scotiabank increased their price objective on MDA Space from C$70.00 to C$71.00 and gave the company a “sector outperform” rating in a research report on Monday, June 22nd. ATB Cormark Capital Markets decreased their target price on MDA Space from C$67.00 to C$62.00 and set a “sector perform” rating for the company in a research report on Monday, June 22nd. Jefferies Financial Group upgraded shares of MDA Space to a “strong-buy” rating in a research note on Wednesday, June 10th. Stifel Nicolaus raised their price target on shares of MDA Space from C$70.00 to C$75.00 and gave the company a “buy” rating in a report on Monday, June 22nd. Finally, Canadian Imperial Bank of Commerce reduced their price target on shares of MDA Space from C$67.00 to C$59.00 in a research note on Wednesday. Two analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Buy” and a consensus price target of C$64.70.

MDA Space Stock Performance

Shares of MDA opened at C$42.35 on Wednesday. The business’s fifty day simple moving average is C$54.58 and its two-hundred day simple moving average is C$44.16. The company has a current ratio of 0.80, a quick ratio of 1.00 and a debt-to-equity ratio of 20.62. MDA Space has a 12 month low of C$20.85 and a 12 month high of C$67.90. The company has a market cap of C$5.88 billion, a price-to-earnings 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 earnings per share for the quarter. MDA Space had a return on equity of 7.24% and a net margin of 6.02%.The firm had revenue of C$464.10 million during the quarter. Research analysts anticipate that MDA Space will post 0.9605084 earnings per share for the current fiscal year.

Insider Transactions at MDA Space

In related news, insider Minda Marie Suchan sold 40,000 shares of the company’s stock in a transaction on Wednesday, June 10th. The stock was sold at an average price of C$53.22, for a total transaction of C$2,128,800.00. Following the completion of the sale, the insider owned 49,784 shares in the company, valued at approximately C$2,649,504.48. This represents a 44.55% decrease in their ownership of the stock. Also, insider Holly Lynn Johnson sold 45,000 shares of the company’s stock in a transaction on Wednesday, June 10th. The shares were sold at an average price of C$52.79, for a total value of C$2,375,550.00. Following the sale, the insider owned 60,331 shares of the company’s stock, valued at approximately C$3,184,873.49. This trade represents a 42.72% decrease in their position. In the last quarter, insiders have sold 119,269 shares of company stock valued at $6,318,903. Corporate insiders own 12.60% of the company’s stock.

About MDA Space

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.