MDA Space (TSE:MDA) Price Target Raised to C$51.00 at Canaccord Genuity Group

MDA Space (TSE:MDA) had its price objective lifted by analysts at Canaccord Genuity Group from C$37.00 to C$51.00 in a research note issued to investors on Thursday,BayStreet.CA reports. The firm presently has a “buy” rating on the stock. Canaccord Genuity Group’s target price indicates a potential upside of 28.59% from the company’s previous close.

A number of other analysts have also recently weighed in on MDA. Morgan Stanley raised MDA Space from an “equal weight” rating to an “overweight” rating and boosted their price target for the stock from C$32.00 to C$46.00 in a research report on Friday, January 16th. Scotiabank upped their price target on MDA Space from C$38.00 to C$42.00 and gave the stock an “outperform” rating in a report on Wednesday, January 21st. Royal Bank Of Canada reduced their price objective on MDA Space from C$45.00 to C$38.00 in a research report on Monday, November 17th. BMO Capital Markets raised their price target on shares of MDA Space from C$36.00 to C$45.00 and gave the stock an “outperform” rating in a research note on Wednesday. Finally, Stifel Nicolaus set a C$48.00 target price on shares of MDA Space and gave the company a “buy” rating in a research note on Wednesday, October 8th. One research analyst has rated the stock with a Strong Buy rating and six have given a Buy rating to the company. According to MarketBeat.com, MDA Space has a consensus rating of “Buy” and an average target price of C$42.88.

MDA Space Price Performance

Shares of MDA stock traded down C$1.45 during midday trading on Thursday, reaching C$39.66. 925,235 shares of the company were exchanged, compared to its average volume of 1,140,503. The company’s 50 day moving average price is C$28.14 and its two-hundred day moving average price is C$33.52. The company has a market cap of C$5.01 billion, a P/E ratio of 46.66 and a beta of -1.15. MDA Space has a 12 month low of C$20.11 and a 12 month high of C$48.31. The company has a debt-to-equity ratio of 34.94, a quick ratio of 1.00 and a current ratio of 0.83.

MDA Space (TSE:MDA) last issued its quarterly earnings results on Friday, November 14th. The company reported C$0.35 EPS for the quarter. MDA Space had a net margin of 7.22% and a return on equity of 6.17%. The firm had revenue of C$409.80 million for the quarter. On average, sell-side analysts expect that MDA Space will post 0.9605084 earnings per share for the current year.

Insider Buying and Selling

In other MDA Space news, Director John Carter Risley sold 75,700 shares of the business’s stock in a transaction that occurred on Tuesday, December 23rd. The stock was sold at an average price of C$27.17, for a total transaction of C$2,056,769.00. Following the transaction, the director owned 313,710 shares of the company’s stock, valued at C$8,523,500.70. The trade was a 19.44% decrease in their ownership of the stock. Company insiders own 12.60% of the company’s stock.

MDA Space Company Profile

MDA Space Ltd, formerly MDA Ltd, is a global space company. The Company is a robotics, satellite systems and Geo intelligence provider. It provides communications satellites and earth and space observation. It is also involved in space exploration and infrastructure. Its software, AURORA, is a digital satellite product line providing critical new solutions to operators. AURORA technology enables constellations to extend communication networks to every corner of the globe with digital automation, and robotics.