Canaccord Genuity Group Increases MDA Space (TSE:MDA) Price Target to C$65.00

MDA Space (TSE:MDA) had its target price upped by analysts at Canaccord Genuity Group from C$56.00 to C$65.00 in a research note issued to investors on Monday,BayStreet.CA reports. The brokerage presently has a “buy” rating on the stock. Canaccord Genuity Group’s price objective would suggest a potential upside of 15.15% from the company’s previous close.

Other analysts have also recently issued research reports about the stock. Jefferies Financial Group upgraded shares of MDA Space to a “strong-buy” rating in a research note on Wednesday, June 10th. Scotia boosted their target price on MDA Space from C$53.00 to C$70.00 and gave the stock a “sector outperform” rating in a research report on Thursday, May 28th. Scotiabank raised MDA Space to a “strong-buy” rating in a research note on Thursday, March 19th. Desjardins increased their price objective on shares of MDA Space from C$66.00 to C$70.00 and gave the company a “buy” rating in a research report on Monday. Finally, Canadian Imperial Bank of Commerce set a C$57.00 target price on MDA Space and gave the stock an “outperformer” rating in a report on Thursday, May 14th. Two research analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and one has given a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of “Buy” and a consensus price target of C$63.40.

MDA Space Price Performance

MDA traded down C$2.66 during trading on Monday, reaching C$56.45. 723,585 shares of the company traded hands, compared to its average volume of 1,187,821. The company has a market cap of C$7.83 billion, a P/E ratio of 70.56 and a beta of -0.53. The company has a debt-to-equity ratio of 20.62, a quick ratio of 1.00 and a current ratio of 0.80. MDA Space has a 12-month low of C$20.85 and a 12-month high of C$67.90. The firm has a fifty day simple moving average of C$51.42 and a 200 day simple moving average of C$40.49.

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

Insider Buying and Selling at MDA Space

In other news, insider Guillaume Lavoie sold 1,500 shares of the business’s stock in a transaction on Thursday, June 11th. The stock was sold at an average price of C$52.63, for a total value of C$78,945.00. Following the completion of the transaction, the insider directly owned 6,257 shares of the company’s stock, valued at approximately C$329,305.91. The trade was a 19.34% decrease in their position. Also, insider Minda Marie Suchan sold 40,000 shares of MDA Space 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 in the company, valued at approximately C$2,649,504.48. The trade was a 44.55% decrease in their position. Over the last quarter, insiders sold 119,269 shares of company stock worth $6,318,903. Company insiders own 12.60% of the company’s stock.

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.