Desjardins Issues Positive Forecast for MDA Space (TSE:MDA) Stock Price

MDA Space (TSE:MDA) had its price target boosted by investment analysts at Desjardins from C$66.00 to C$70.00 in a research note issued to investors on Monday,BayStreet.CA reports. The brokerage currently has a “buy” rating on the stock. Desjardins’ target price would suggest a potential upside of 24.00% from the stock’s previous close.

Several other brokerages also recently issued reports on MDA. ATB Cormark Capital Markets downgraded MDA Space from a “moderate buy” rating to a “hold” rating and upped their price objective for the company from C$53.00 to C$67.00 in a research report on Friday, May 29th. Morgan Stanley boosted their target price on shares of MDA Space from C$51.00 to C$58.00 in a research note on Friday, May 8th. Jefferies Financial Group upgraded shares of MDA Space to a “strong-buy” rating in a report on Wednesday, June 10th. Scotiabank upgraded shares of MDA Space to a “strong-buy” rating in a report on Thursday, March 19th. Finally, BMO Capital Markets boosted their price objective on shares of MDA Space from C$53.00 to C$68.00 and gave the company an “outperform” rating in a research report on Monday. Two equities research analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat.com, MDA Space currently has an average rating of “Buy” and an average price target of C$63.40.

MDA Space Price Performance

Shares of MDA traded down C$2.66 during mid-day trading on Monday, reaching C$56.45. 723,585 shares of the company’s stock were exchanged, compared to its average volume of 1,187,821. The company has a quick ratio of 1.00, a current ratio of 0.80 and a debt-to-equity ratio of 20.62. The company has a 50-day simple moving average of C$51.42 and a two-hundred day simple moving average of C$40.49. MDA Space has a 52-week low of C$20.85 and a 52-week high of C$67.90. 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.

MDA Space (TSE:MDA) last issued its quarterly earnings data on Thursday, May 7th. The company reported C$0.38 earnings per share (EPS) for the quarter. The firm had revenue of C$464.10 million during the quarter. MDA Space had a return on equity of 7.24% and a net margin of 6.02%. On average, sell-side analysts predict that MDA Space will post 0.9605084 EPS for the current fiscal year.

Insider Activity at MDA Space

In other news, insider Guillaume Lavoie sold 688 shares of the company’s stock in a transaction on 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 sale, the insider directly owned 5,569 shares in the company, valued at C$309,747.78. This represents a 11.00% decrease in their position. Also, insider Holly Lynn Johnson sold 45,000 shares of the stock in a transaction on Wednesday, June 10th. The stock was sold at an average price of C$52.79, for a total value of C$2,375,550.00. Following the completion of the transaction, the insider directly owned 60,331 shares in the company, valued at C$3,184,873.49. This trade represents a 42.72% decrease in their ownership of the stock. Insiders sold 119,269 shares of company stock valued at $6,318,903 over the last quarter. 12.60% of the stock is currently owned by corporate insiders.

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.