MDA Space (TSE:MDA) Rating Increased to Strong-Buy at Stifel Canada

Key Points

• MDA Space's rating was upgraded to "strong-buy" by analysts at Stifel Canada, indicating bullish sentiment towards the stock.
• Several other analysts have adjusted their price targets for MDA Space, with most reducing their estimates, bringing the consensus price target down to C$39.40.
• Insider trading activity includes significant sales, with two insiders selling over 86,000 shares in August, highlighting potential concerns about stock performance.

MDA Space (TSE:MDA - Get Free Report) was upgraded by analysts at Stifel Canada to a "strong-buy" rating in a report issued on Tuesday,Zacks.com reports.

A number of other equities analysts also recently commented on MDA. Canaccord Genuity Group dropped their price objective on MDA Space from C$54.00 to C$47.00 in a report on Tuesday, September 9th. Desjardins cut their target price on MDA Space from C$56.00 to C$43.00 and set a "buy" rating on the stock in a report on Tuesday, September 9th. Scotiabank reduced their price target on MDA Space from C$55.00 to C$43.00 and set an "outperform" rating for the company in a research report on Tuesday, September 9th. Royal Bank Of Canada lowered their price objective 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. Finally, Stifel Nicolaus set a C$48.00 target price on MDA Space and gave the stock a "buy" rating in a research report on Wednesday. One analyst has rated the stock with a Strong Buy rating and six have assigned a Buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Buy" and a consensus price target of C$39.40.

MDA Space Stock Performance

Shares of TSE MDA opened at C$37.57 on Tuesday. The company has a debt-to-equity ratio of 34.94, a current ratio of 0.83 and a quick ratio of 1.00. MDA Space has a one year low of C$19.86 and a one year high of C$48.31. The business's 50-day moving average price is C$39.27 and its two-hundred day moving average price is C$33.32. The company has a market capitalization of C$4.69 billion, a P/E ratio of 41.74 and a beta of -0.99.

Insiders Place Their Bets

In other news, insider Holly Lynn Johnson sold 40,620 shares of the firm's stock in a transaction on Tuesday, August 19th. The shares were sold at an average price of C$45.80, for a total value of C$1,860,396.00. Following the sale, the insider owned 34,810 shares in the company, valued at approximately C$1,594,298. This trade represents a 53.85% decrease in their ownership of the stock. Also, Director Brendan Paddick sold 45,600 shares of the business's stock in a transaction on Tuesday, August 26th. The stock was sold at an average price of C$47.02, for a total transaction of C$2,143,929.60. Following the transaction, the director directly owned 1,136,353 shares in the company, valued at C$53,426,772.65. This trade represents a 3.86% decrease in their position. Insiders have sold a total of 1,334,150 shares of company stock valued at $59,797,443 in the last 90 days. 12.60% of the stock is currently owned by corporate 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.

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