MDA Space Ltd. (TSE:MDA) Receives Average Recommendation of "Buy" from Brokerages

Key Points

• Analyst consensus: Seven brokerages rate MDA Space as a "Buy" (six buys, one strong-buy) with an average 12-month price target of C$38.70.
• Insider selling: Company insiders sold 1,334,150 shares worth C$59,797,443 over the last 90 days, and insiders currently own 12.60% of the stock.
• Current valuation gap: MDA opened at C$22.60 (market cap C$2.82B, P/E 25.11) and is trading well below the average analyst target and its 1-year high of C$48.31.

Shares of MDA Space Ltd. (TSE:MDA - Get Free Report) have been given an average recommendation of "Buy" by the seven ratings firms that are covering the company, Marketbeat.com reports. Six investment analysts have rated the stock with a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month price target among brokers that have covered the stock in the last year is C$38.70.

MDA has been the topic of several recent research reports. Canaccord Genuity Group cut their target price on shares of MDA Space from C$54.00 to C$47.00 in a research report on Tuesday, September 9th. BMO Capital Markets cut their price target on shares of MDA Space from C$40.00 to C$36.00 in a report on Friday, October 31st. Stifel Canada raised shares of MDA Space to a "strong-buy" rating in a research note on Tuesday, October 7th. Scotiabank decreased their price objective on MDA Space from C$43.00 to C$40.00 and set an "outperform" rating for the company in a report on Friday, October 31st. Finally, Royal Bank Of Canada cut their target price on MDA Space from C$53.00 to C$45.00 and set an "outperform" rating on the stock in a report on Tuesday, September 9th.

Insider Buying and Selling

In other MDA Space news, Director John Carter Risley sold 184,230 shares of the firm's stock in a transaction that occurred on Thursday, August 14th. The shares were sold at an average price of C$43.00, for a total transaction of C$7,921,890.00. Following the completion of the transaction, the director owned 1,246,020 shares in the company, valued at approximately C$53,578,860. This trade represents a 12.88% decrease in their position. Also, Director Brendan Paddick sold 54,400 shares of the business's stock in a transaction that occurred on Monday, August 25th. The stock was sold at an average price of C$45.09, for a total transaction of C$2,452,727.36. Following the completion of the transaction, the director owned 1,181,953 shares in the company, valued at C$53,290,596.72. This trade represents a 4.40% decrease in their position. Insiders sold 1,334,150 shares of company stock valued at $59,797,443 over the last 90 days. 12.60% of the stock is currently owned by corporate insiders.

MDA Space Stock Performance

TSE:MDA opened at C$22.60 on Wednesday. The stock has a market cap of C$2.82 billion, a P/E ratio of 25.11 and a beta of -0.86. The company has a current ratio of 0.83, a quick ratio of 1.00 and a debt-to-equity ratio of 34.94. The stock's 50-day moving average is C$33.24 and its 200-day moving average is C$34.46. MDA Space has a 1-year low of C$19.96 and a 1-year high of C$48.31.

About MDA Space

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.

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