ATB Cormark Capital Markets Cuts MDA Space (TSE:MDA) Price Target to C$51.00

MDA Space (TSE:MDA) had its target price trimmed by ATB Cormark Capital Markets from C$62.00 to C$51.00 in a research note released on Friday morning,BayStreet.CA reports. The firm currently has a sector perform rating on the stock.

Other research analysts also recently issued reports about the stock. Scotia raised their price target on shares of MDA Space from C$53.00 to C$70.00 and gave the company a “sector outperform” rating in a report on Thursday, May 28th. Royal Bank Of Canada set a C$58.00 price target on shares of MDA Space and gave the stock an “outperform” rating in a report on Thursday. Jefferies Financial Group upgraded MDA Space to a “strong-buy” rating in a research report on Wednesday, June 10th. BMO Capital Markets increased their price objective on MDA Space from C$53.00 to C$68.00 and gave the stock an “outperform” rating in a research report on Monday, June 22nd. Finally, Stifel Nicolaus boosted their target price on MDA Space from C$70.00 to C$75.00 and gave the stock a “buy” rating in a research report on Monday, June 22nd. Two research 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 presently has an average rating of “Buy” and an average price target of C$64.70.

MDA Space Price Performance

MDA stock opened at C$42.35 on Friday. The firm has a 50 day moving average of C$54.58 and a 200-day moving average of C$44.28. 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 firm has a market capitalization of C$6.86 billion, a P/E ratio of 53.37 and a beta of -0.34.

MDA Space (TSE:MDA) last issued its quarterly earnings data on Thursday, May 7th. The company reported C$0.38 EPS for the quarter. The company had revenue of C$464.10 million during the quarter. MDA Space had a net margin of 6.02% and a return on equity of 7.24%. As a group, sell-side analysts predict that MDA Space will post 0.9605084 earnings per share for the current fiscal year.

Insider Activity at MDA Space

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