MDA Space Ltd. (TSE:MDA) Given Consensus Rating of "Buy" by Analysts

Key Points

• MDA Space Ltd. has received an average recommendation of "Buy" from six brokerages, with one analyst issuing a "strong buy" rating, as well as an average 1-year target price of C$43.22.
• Several firms, including Desjardins and Royal Bank of Canada, have significantly raised their price targets for MDA Space, with targets now ranging from C$45.00 to C$55.00.
• Insiders at MDA Space have sold 288,000 shares worth over $8.5 million in the past ninety days, with current insider ownership at 12.60%.

MDA Space Ltd. (TSE:MDA - Get Free Report) has been given an average recommendation of "Buy" by the six ratings firms that are presently covering the company, MarketBeat.com reports. Five analysts have rated the stock with a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year price target among brokerages that have covered the stock in the last year is C$43.22.

MDA has been the topic of several analyst reports. BMO Capital Markets lifted their target price on shares of MDA Space from C$33.00 to C$53.00 and gave the stock an "outperform" rating in a research report on Tuesday, August 5th. Canaccord Genuity Group lifted their target price on shares of MDA Space from C$36.00 to C$45.00 and gave the stock a "buy" rating in a research report on Friday, July 11th. Scotiabank raised shares of MDA Space from a "hold" rating to a "strong-buy" rating and lifted their target price for the stock from C$39.00 to C$55.00 in a research report on Tuesday, August 5th. Royal Bank Of Canada lifted their target price on shares of MDA Space from C$42.00 to C$53.00 and gave the stock an "outperform" rating in a research report on Tuesday, August 5th. Finally, Desjardins lifted their target price on shares of MDA Space from C$40.00 to C$55.00 and gave the stock a "buy" rating in a research report on Tuesday, August 5th.

Insider Activity

In related news, Senior Officer Luigi Pozzebon sold 8,000 shares of the business's stock in a transaction that occurred on Tuesday, June 24th. The shares were sold at an average price of C$32.02, for a total transaction of C$256,160.00. Also, Senior Officer Holly Lynn Johnson sold 31,200 shares of the business's stock in a transaction that occurred on Monday, June 23rd. The shares were sold at an average price of C$30.70, for a total transaction of C$957,840.00. In the last ninety days, insiders sold 288,000 shares of company stock valued at $8,517,168. 12.60% of the stock is currently owned by insiders.

MDA Space Price Performance

Shares of TSE MDA traded down C$0.57 during midday trading on Friday, reaching C$44.41. The company's stock had a trading volume of 271,674 shares, compared to its average volume of 515,218. The company has a 50 day moving average price of C$40.89 and a 200 day moving average price of C$31.49. The company has a market cap of C$5.55 billion, a price-to-earnings ratio of 49.34 and a beta of -0.58. The company has a current ratio of 0.83, a quick ratio of 1.00 and a debt-to-equity ratio of 34.94. MDA Space has a one year low of C$14.65 and a one year high of C$48.31.

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.