MDA Space (TSE:MDA) Price Target Raised to C$75.00

MDA Space (TSE:MDA) had its price objective lifted by equities research analysts at Stifel Nicolaus from C$70.00 to C$75.00 in a report released on Monday,BayStreet.CA reports. The firm currently has a “buy” rating on the stock. Stifel Nicolaus’ price target would indicate a potential upside of 32.86% from the stock’s previous close.

MDA has been the subject of several other reports. Canadian Imperial Bank of Commerce set a C$57.00 price target on MDA Space and gave the company an “outperformer” rating in a research report on Thursday, May 14th. Scotiabank raised MDA Space to a “strong-buy” rating in a research report on Thursday, March 19th. ATB Cormark Capital Markets cut MDA Space from a “moderate buy” rating to a “hold” rating and upped their price objective for the stock from C$53.00 to C$67.00 in a research note on Friday, May 29th. Jefferies Financial Group raised MDA Space to a “strong-buy” rating in a report on Wednesday, June 10th. Finally, Scotia raised their target price on shares of MDA Space from C$53.00 to C$70.00 and gave the company a “sector outperform” rating in a research note on Thursday, May 28th. Two investment analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat, MDA Space has a consensus rating of “Buy” and a consensus price target of C$63.40.

MDA Space Stock Down 4.5%

Shares of MDA stock traded down C$2.66 during trading on Monday, reaching C$56.45. The company’s stock had a trading volume of 723,585 shares, compared to its average volume of 1,187,821. MDA Space has a one year low of C$20.85 and a one year high of C$67.90. The business has a fifty day moving average price of C$51.42 and a 200-day moving average price of C$40.49. The company has a market cap of C$7.83 billion, a price-to-earnings ratio of 70.56 and a beta of -0.53. The company has a quick ratio of 1.00, a current ratio of 0.80 and a debt-to-equity ratio of 20.62.

MDA Space (TSE:MDA) last released its earnings results on Thursday, May 7th. The company reported C$0.38 earnings per share for the quarter. MDA Space had a net margin of 6.02% and a return on equity of 7.24%. The business had revenue of C$464.10 million during the quarter. Analysts anticipate that MDA Space will post 0.9605084 earnings per share for the current year.

Insiders Place Their Bets

In related news, insider Minda Marie Suchan sold 40,000 shares of MDA Space stock in a transaction dated Wednesday, June 10th. The shares were 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 of the company’s stock, valued at approximately C$2,649,504.48. The trade was a 44.55% decrease in their position. Also, insider Holly Lynn Johnson sold 45,000 shares of the company’s stock in a transaction dated Wednesday, June 10th. The shares were sold at an average price of C$52.79, for a total transaction of C$2,375,550.00. Following the completion of the transaction, the insider owned 60,331 shares in the company, valued at approximately C$3,184,873.49. This trade represents a 42.72% decrease in their position. Over the last 90 days, insiders sold 119,269 shares of company stock worth $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.