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

MDA Space (TSE:MDA) had its target price hoisted by Desjardins from C$70.00 to C$72.00 in a research note issued on Wednesday,BayStreet.CA reports. The firm presently has a “buy” rating on the stock. Desjardins’ price target suggests a potential upside of 54.77% from the stock’s previous close.

A number of other research analysts have also commented on the stock. ATB Cormark Capital Markets cut their price objective 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 report on Monday, June 22nd. BMO Capital Markets lifted their target price 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. Canadian Imperial Bank of Commerce lowered their price target on MDA Space from C$67.00 to C$59.00 in a research note on Wednesday. Scotia upped their price target on 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. Finally, Scotiabank raised their price objective on MDA Space from C$70.00 to C$71.00 and gave the stock a “sector outperform” rating in a research report on Monday, June 22nd. Two investment analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average target price of C$63.80.

MDA Space Stock Performance

TSE:MDA traded down C$1.14 during trading hours on Wednesday, hitting C$46.52. 814,696 shares of the company traded hands, compared to its average volume of 1,195,452. The stock has a market capitalization of C$6.46 billion, a price-to-earnings ratio of 58.63 and a beta of -0.34. MDA Space has a twelve month low of C$20.85 and a twelve month high of C$67.90. The firm has a 50-day moving average of C$54.67 and a 200 day moving average of C$43.92. 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 (TSE:MDA) last issued its quarterly earnings results on Thursday, May 7th. The company reported C$0.38 earnings per share for the quarter. The firm 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%. On average, 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 Luigi Pozzebon sold 31,686 shares of the stock in a transaction on Thursday, June 11th. The shares were sold at an average price of C$52.90, for a total value of C$1,676,189.40. Also, insider Minda Marie Suchan sold 40,000 shares of the stock in a transaction on 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 transaction, the insider 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. Over the last quarter, insiders sold 119,269 shares of company stock worth $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.