Scotiabank Downgrades MDA Space (TSE:MDA) to Sector Perform

MDA Space (TSE:MDA - Get Free Report) was downgraded by Scotiabank from an "outperform" rating to a "sector perform" rating in a research report issued to clients and investors on Thursday,BayStreet.CA reports. They presently have a C$39.00 price objective on the stock, up from their prior price objective of C$33.00. Scotiabank's target price would indicate a potential upside of 6.79% from the stock's current price.

Several other research firms have also recently weighed in on MDA. Desjardins increased their price objective on shares of MDA Space from C$38.00 to C$40.00 and gave the stock a "buy" rating in a research report on Monday, June 23rd. Canaccord Genuity Group cut their price target on shares of MDA Space from C$37.00 to C$36.00 and set a "buy" rating on the stock in a research report on Wednesday, May 21st. One analyst has rated the stock with a hold rating and five have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of C$34.78.

MDA Space Trading Up 0.8%

MDA traded up C$0.29 during trading on Thursday, reaching C$36.52. 378,590 shares of the company's stock were exchanged, compared to its average volume of 485,303. The company has a current ratio of 0.83, a quick ratio of 1.00 and a debt-to-equity ratio of 34.94. MDA Space has a one year low of C$11.78 and a one year high of C$37.06. The firm has a fifty day moving average price of C$28.48 and a two-hundred day moving average price of C$27.02. The stock has a market capitalization of C$4.45 billion, a PE ratio of 64.91 and a beta of 0.02.

Insider Transactions at MDA Space

In other news, Senior Officer Luigi Pozzebon sold 8,000 shares of the stock in a transaction dated Tuesday, June 24th. The shares were sold at an average price of C$32.02, for a total transaction of C$256,160.00. 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. In the last quarter, insiders sold 306,000 shares of company stock valued at $9,024,768. 12.60% of the stock is owned by 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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