Royal Bank Of Canada Has Lowered Expectations for MDA Space (TSE:MDA) Stock Price

Key Points

• Royal Bank of Canada cut its price target on MDA Space from C$45.00 to C$38.00, a level that implies roughly a 77% upside from the stock's current price.
• Analysts collectively still rate MDA Space a Buy with an average price target of C$37.60, though several firms (BMO, Canaccord, Scotiabank) recently trimmed their targets.
• The stock traded at C$21.43—well below analyst targets and its 52‑week high of C$48.31—and insiders sold 140,620 shares (~$6.46M) over the past three months while holding about 12.6% of the company.

MDA Space (TSE:MDA - Get Free Report) had its price target dropped by Royal Bank Of Canada from C$45.00 to C$38.00 in a research note issued on Monday,BayStreet.CA reports. Royal Bank Of Canada's target price would suggest a potential upside of 77.32% from the stock's current price.

A number of other equities research analysts also recently weighed in on MDA. BMO Capital Markets dropped their target price on 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 report on Tuesday, October 7th. Canaccord Genuity Group cut their price objective on shares of MDA Space from C$54.00 to C$47.00 in a report on Tuesday, September 9th. Stifel Nicolaus set a C$48.00 target price on shares of MDA Space and gave the stock a "buy" rating in a report on Wednesday, October 8th. Finally, Scotiabank dropped their price target on shares of MDA Space from C$43.00 to C$40.00 and set an "outperform" rating for the company in a research report on Friday, October 31st. One analyst has rated the stock with a Strong Buy rating and six have given a Buy rating to the company's stock. According to data from MarketBeat, MDA Space presently has an average rating of "Buy" and an average price target of C$37.60.

MDA Space Stock Performance

Shares of TSE MDA traded down C$0.83 during trading hours on Monday, reaching C$21.43. 628,521 shares of the stock were exchanged, compared to its average volume of 634,963. The firm has a market capitalization of C$2.68 billion, a price-to-earnings ratio of 23.81 and a beta of -0.86. The stock's fifty day simple moving average is C$31.93 and its 200 day simple moving average is C$34.36. 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 52 week low of C$19.96 and a 52 week high of C$48.31.

Insider Buying and Selling

In other MDA Space news, Director Brendan Paddick sold 54,400 shares of the company's stock in a transaction dated Monday, August 25th. The stock was sold at an average price of C$45.09, for a total value of C$2,452,727.36. Following the completion of the transaction, the director owned 1,181,953 shares of the company's stock, valued at C$53,290,596.72. This represents a 4.40% decrease in their position. Also, insider Guillaume Lavoie bought 1,220 shares of the company's stock in a transaction on Tuesday, September 9th. The stock was purchased at an average price of C$33.91 per share, with a total value of C$41,370.20. Following the completion of the transaction, the insider directly owned 4,562 shares of the company's stock, valued at approximately C$154,697.42. The trade was a 36.51% increase in their position. Insiders sold a total of 140,620 shares of company stock worth $6,457,053 in the last three months. 12.60% of the stock is owned by corporate insiders.

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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