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

Key Points

• Analysts maintain a bullish outlook: Eleven firms give MDA Space an average “Buy” rating, with eight buys, two strong buys and one hold. The average 12-month price target is C$64.50.
• Recent brokerages have generally raised their targets, including Stifel Nicolaus to C$75, Desjardins to C$72 and Scotia to C$70, although ATB Cormark cut its target to C$48 and maintained a sector-perform rating.
• The stock faces mixed trading signals: MDA opened at C$48.49 after falling 2.5%, while insiders sold 119,269 shares worth approximately C$6.3 million during the last quarter.

MDA Space Ltd. (TSE:MDA - Get Free Report) has received an average rating of "Buy" from the eleven research firms that are presently covering the company, Marketbeat reports. One analyst has rated the stock with a hold recommendation, eight have issued a buy recommendation and two have given a strong buy recommendation to the company. The average 1 year price objective among brokerages that have issued ratings on the stock in the last year is C$64.50.

Several brokerages have recently issued reports on MDA. Desjardins upped their target price on shares of MDA Space from C$70.00 to C$72.00 and gave the company a "buy" rating in a research report on Wednesday, July 15th. Scotia lifted their price target on MDA Space from C$53.00 to C$70.00 and gave the stock a "sector outperform" rating in a research report on Thursday, May 28th. Stifel Nicolaus boosted their price objective on MDA Space from C$70.00 to C$75.00 and gave the stock a "buy" rating in a research note on Monday, June 22nd. ATB Cormark Capital Markets decreased their price objective on MDA Space from C$51.00 to C$48.00 and set a "sector perform" rating on the stock in a research report on Monday. Finally, Royal Bank Of Canada upped their price objective on MDA Space from C$58.00 to C$60.00 and gave the company an "outperform" rating in a research report on Monday.

MDA Space Trading Down 2.5%

MDA stock opened at C$48.49 on Friday. The firm has a fifty day moving average price of C$50.00 and a 200 day moving average price of C$46.12. MDA Space has a fifty-two week low of C$20.85 and a fifty-two week high of C$67.90. The firm has a market cap of C$7.86 billion, a PE ratio of 61.38 and a beta of -0.37. The company has a debt-to-equity ratio of 20.01, a quick ratio of 1.00 and a current ratio of 0.75.

Insider Buying and Selling

In other news, insider Minda Marie Suchan sold 40,000 shares of the business's stock in a transaction that occurred on Wednesday, June 10th. The stock was sold at an average price of C$53.22, for a total transaction of C$2,128,800.00. Following the transaction, the insider owned 49,784 shares of the company's stock, valued at approximately C$2,649,504.48. The trade was a 44.55% decrease in their position. Also, 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. In the last quarter, insiders sold 119,269 shares of company stock worth $6,318,903. 12.60% of the stock is owned by company 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.

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