MDA Space (TSE:MDA) Price Target Raised to C$60.00

Key Points

• Royal Bank of Canada raised MDA Space’s price target to C$60 from C$58 and maintained an “outperform” rating, implying 26.82% upside from the prior close.
• Analyst sentiment remains positive, with the stock carrying an average “Buy” rating and a consensus price target of C$64.50; several firms recently increased their targets.
• MDA Space shares fell 1.9% to C$47.31 in Monday trading. Insiders have sold 119,269 shares worth approximately C$6.3 million over the past 90 days.

MDA Space (TSE:MDA - Get Free Report) had its price target lifted by investment analysts at Royal Bank Of Canada from C$58.00 to C$60.00 in a research note issued to investors on Monday,BayStreet.CA reports. The firm currently has an "outperform" rating on the stock. Royal Bank Of Canada's target price would indicate a potential upside of 26.82% from the company's previous close.

Several other equities analysts have also commented on MDA. Stifel Nicolaus increased their price objective on shares of MDA Space from C$70.00 to C$75.00 and gave the company a "buy" rating in a research report on Monday, June 22nd. BMO Capital Markets upped their price target on shares of MDA Space from C$53.00 to C$68.00 and gave the company an "outperform" rating in a research note on Monday, June 22nd. Canaccord Genuity Group raised their price target on shares of MDA Space from C$56.00 to C$65.00 and gave the stock a "buy" rating in a report on Monday, June 22nd. Canadian Imperial Bank of Commerce lowered their price objective on shares of MDA Space from C$67.00 to C$59.00 in a research note on Wednesday, July 15th. Finally, Scotia boosted their price objective on shares of MDA Space from C$53.00 to C$70.00 and gave the company a "sector outperform" rating in a report on Thursday, May 28th. Two research analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat, the company presently has an average rating of "Buy" and an average price target of C$64.50.

MDA Space Stock Down 1.9%

Shares of MDA stock traded down C$0.91 during trading hours on Monday, reaching C$47.31. 569,417 shares of the company's stock were exchanged, compared to its average volume of 1,186,863. MDA Space has a fifty-two week low of C$20.85 and a fifty-two week high of C$67.90. The stock's 50 day moving average is C$50.76 and its 200-day moving average is C$45.81. The company has a current ratio of 0.80, a quick ratio of 1.00 and a debt-to-equity ratio of 20.62. The company has a market cap of C$7.66 billion, a price-to-earnings ratio of 59.62 and a beta of -0.37.

MDA Space (TSE:MDA - Get Free Report) last announced its earnings results on Thursday, May 7th. The company reported C$0.38 earnings per share for the quarter. MDA Space had a return on equity of 7.24% and a net margin of 6.02%.The firm had revenue of C$464.10 million for the quarter. Analysts predict that MDA Space will post 0.9605084 earnings per share for the current fiscal year.

Insider Activity

In related news, insider Guillaume Lavoie sold 1,500 shares of MDA Space stock in a transaction dated Thursday, June 11th. The stock was sold at an average price of C$52.63, for a total value of C$78,945.00. Following the completion of the transaction, the insider owned 6,257 shares in the company, valued at C$329,305.91. The trade was a 19.34% decrease in their position. Also, insider Minda Marie Suchan sold 40,000 shares of MDA Space stock in a transaction on Wednesday, June 10th. The shares were sold at an average price of C$53.22, for a total transaction of C$2,128,800.00. Following the completion of the sale, the insider directly owned 49,784 shares in the company, valued at C$2,649,504.48. This represents a 44.55% decrease in their position. In the last 90 days, insiders have sold 119,269 shares of company stock valued at $6,318,903. 12.60% of the stock is currently 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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