MDA Space Ltd. (TSE:MDA) Receives Average Rating of “Buy” from Analysts

MDA Space Ltd. (TSE:MDA) has been given an average recommendation of “Buy” by the eleven ratings firms that are currently covering the company, MarketBeat Ratings reports. One equities research analyst has rated the stock with a hold rating, eight have issued a buy rating and two have given a strong buy rating to the company. The average 12 month price target among analysts that have issued a report on the stock in the last year is C$64.50.

MDA has been the topic of a number of analyst reports. Stifel Nicolaus upped their target price on MDA Space from C$70.00 to C$75.00 and gave the company a “buy” rating in a research note on Monday, June 22nd. ATB Cormark Capital Markets decreased their price target on MDA Space from C$51.00 to C$48.00 and set a “sector perform” rating for the company in a research note on Monday. Jefferies Financial Group upgraded MDA Space to a “strong-buy” rating in a report on Wednesday, June 10th. Canaccord Genuity Group cut their price objective on MDA Space from C$65.00 to C$64.00 and set a “buy” rating on the stock in a research report on Monday. Finally, Morgan Stanley upped their price objective on MDA Space from C$51.00 to C$58.00 in a research report on Friday, May 8th.

MDA Space Stock Performance

MDA Space stock opened at C$48.49 on Friday. The company has a debt-to-equity ratio of 20.01, a current ratio of 0.75 and a quick ratio of 1.00. The firm has a market capitalization of C$7.86 billion, a P/E ratio of 61.38 and a beta of -0.37. MDA Space has a 1-year low of C$20.85 and a 1-year high of C$67.90. The company’s 50-day moving average is C$50.00 and its 200 day moving average is C$46.12.

Insider Activity at MDA Space

In other news, insider Minda Marie Suchan sold 40,000 shares of the company’s stock in a transaction dated Wednesday, June 10th. The shares were sold at an average price of C$53.22, for a total value of C$2,128,800.00. Following the transaction, the insider directly 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 Guillaume Lavoie sold 688 shares of the company’s stock in a transaction dated Friday, June 12th. The stock was sold at an average price of C$55.62, for a total transaction of C$38,266.56. Following the completion of the transaction, the insider owned 5,569 shares in the company, valued at approximately C$309,747.78. The trade was a 11.00% decrease in their ownership of the stock. Insiders sold a total of 119,269 shares of company stock valued at $6,318,903 over the last ninety days. 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.