Canaccord Genuity Group Forecasts Strong Price Appreciation for MDA Space (TSE:MDA) Stock

MDA Space (TSE:MDA - Free Report) had its price objective hoisted by Canaccord Genuity Group from C$36.00 to C$45.00 in a report released on Friday,BayStreet.CA reports. The firm currently has a buy rating on the stock.

A number of other analysts also recently weighed in on the company. Scotiabank downgraded MDA Space from a "strong-buy" rating to a "hold" rating and increased their price target for the stock from C$33.00 to C$39.00 in a report on Thursday, July 3rd. Royal Bank Of Canada boosted their target price on shares of MDA Space from C$35.00 to C$42.00 and gave the company an "outperform" rating in a research report on Thursday, July 3rd. Finally, Desjardins boosted their target price on shares of MDA Space from C$38.00 to C$40.00 and gave the company a "buy" rating in a research report on Monday, June 23rd. One analyst has rated the stock with a hold rating and five have issued a buy rating to the company's stock. According to MarketBeat, MDA Space currently has a consensus rating of "Moderate Buy" and a consensus price target of C$35.78.

MDA Space Trading Up 1.0%

MDA Space stock traded up C$0.38 during trading hours on Friday, reaching C$39.37. 391,828 shares of the company's stock were exchanged, compared to its average volume of 489,268. The company has a quick ratio of 1.00, a current ratio of 0.83 and a debt-to-equity ratio of 34.94. The firm's 50 day simple moving average is C$30.46 and its 200 day simple moving average is C$27.54. MDA Space has a twelve month low of C$11.78 and a twelve month high of C$40.27. The firm has a market capitalization of C$4.80 billion, a PE ratio of 69.98 and a beta of 0.02.

Insider Buying and Selling

In other news, Senior Officer Minda Marie Suchan sold 40,000 shares of the firm's stock in a transaction dated Friday, June 20th. The stock was sold at an average price of C$30.64, for a total value of C$1,225,608.00. Also, Senior Officer Holly Lynn Johnson sold 31,200 shares of the firm's stock in a transaction dated Monday, June 23rd. The shares were sold at an average price of C$30.70, for a total value of C$957,840.00. Insiders sold a total of 306,000 shares of company stock worth $9,024,768 over the last 90 days. 12.60% of the stock is owned by company insiders.

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.