Royal Bank Of Canada Lowers MDA Space (TSE:MDA) Price Target to C$45.00

Key Points

• Royal Bank of Canada has lowered its price target for MDA Space from C$53.00 to C$45.00, maintaining an "outperform" rating which suggests a potential upside of 35.54% from the current price.
• Other analysts have mixed views, with Scotiabank upgrading MDA Space to a "strong-buy" and raising its target to C$55.00, while Canaccord Genuity reduced its target to C$47.00.
• Insider selling activity was noted, with senior officers selling a total of 288,000 shares worth over C$8.5 million in the past 90 days, indicating potential concerns among management.

MDA Space (TSE:MDA - Get Free Report) had its price objective decreased by equities research analysts at Royal Bank Of Canada from C$53.00 to C$45.00 in a note issued to investors on Tuesday,BayStreet.CA reports. The brokerage presently has an "outperform" rating on the stock. Royal Bank Of Canada's price target points to a potential upside of 46.10% from the company's previous close.

Several other brokerages also recently commented on MDA. Canaccord Genuity Group decreased their price objective on shares of MDA Space from C$54.00 to C$47.00 in a research report on Tuesday, September 9th. BMO Capital Markets lifted their price objective on shares of MDA Space from C$33.00 to C$53.00 and gave the stock an "outperform" rating in a research note on Tuesday, August 5th. Scotiabank raised shares of MDA Space from a "hold" rating to a "strong-buy" rating and lifted their price objective for the stock from C$39.00 to C$55.00 in a research note on Tuesday, August 5th. Finally, Desjardins lifted their price objective on shares of MDA Space from C$40.00 to C$55.00 and gave the stock a "buy" rating in a research note on Tuesday, August 5th. Six equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock currently has an average rating of "Buy" and an average price target of C$38.44.

MDA Space Stock Performance

Shares of MDA Space stock traded down C$0.09 on Tuesday, hitting C$30.80. 963,072 shares of the company's stock were exchanged, compared to its average volume of 557,736. The company has a 50-day simple moving average of C$41.56 and a 200-day simple moving average of C$32.37. The company has a debt-to-equity ratio of 34.94, a quick ratio of 1.00 and a current ratio of 0.83. MDA Space has a 1 year low of C$15.53 and a 1 year high of C$48.31. The stock has a market capitalization of C$3.85 billion, a PE ratio of 34.22 and a beta of -0.63.

Insider Activity

In related news, Director Michael Philip James Greenley sold 1,009,300 shares of MDA Space stock in a transaction dated Monday, August 18th. The shares were sold at an average price of C$45.00, for a total transaction of C$45,418,500.00. Following the completion of the sale, the director owned 117,037 shares in the company, valued at C$5,266,665. This trade represents a 89.61% decrease in their position. Also, insider Holly Lynn Johnson sold 40,620 shares of the firm's stock in a transaction that occurred on Tuesday, August 19th. The stock was sold at an average price of C$45.80, for a total transaction of C$1,860,396.00. Following the transaction, the insider directly 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. Insiders sold 1,422,150 shares of company stock worth $62,507,211 in the last 90 days. Company insiders own 12.60% of the company's stock.

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.