MDA Space (TSE:MDA) Price Target Cut to C$43.00 by Analysts at Scotiabank

Key Points

• Scotiabank has lowered its price target for MDA Space stock from C$55.00 to C$43.00, while maintaining an "outperform" rating, suggesting a potential upside of 29.52% from the current price.
• Other research firms have also adjusted their price targets for MDA Space, with Canaccord Genuity reducing it to C$47.00, Desjardins to C$43.00, and Royal Bank of Canada to C$45.00, all indicating a generally negative outlook.
• In insider trading, senior officers sold a significant number of shares, with 288,000 shares valued at $8.5 million sold in the last three months, raising concerns about insider confidence in the company.

MDA Space (TSE:MDA - Get Free Report) had its price objective cut by stock analysts at Scotiabank from C$55.00 to C$43.00 in a research note issued on Tuesday,BayStreet.CA reports. The firm presently has an "outperform" rating on the stock. Scotiabank's price target would indicate a potential upside of 39.61% from the company's previous close.

MDA has been the topic of a number of other reports. BMO Capital Markets increased their target price on MDA Space from C$33.00 to C$53.00 and gave the stock an "outperform" rating in a report on Tuesday, August 5th. Royal Bank Of Canada cut their target price on MDA Space from C$53.00 to C$45.00 and set an "outperform" rating on the stock in a report on Tuesday. Canaccord Genuity Group cut their target price on MDA Space from C$54.00 to C$47.00 in a report on Tuesday. Finally, 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. Six investment analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, MDA Space presently has an average rating of "Buy" and an average target price of C$38.44.

MDA Space Stock Down 0.3%

Shares of MDA traded down C$0.09 during trading hours on Tuesday, reaching C$30.80. The stock had a trading volume of 963,072 shares, compared to its average volume of 557,736. MDA Space has a 12 month low of C$15.53 and a 12 month high of C$48.31. The firm has a 50-day simple moving average of C$41.56 and a 200 day simple moving average of C$32.32. The company has a current ratio of 0.83, a quick ratio of 1.00 and a debt-to-equity ratio of 34.94. The company has a market capitalization of C$3.85 billion, a price-to-earnings ratio of 34.22 and a beta of -0.63.

Insider Activity

In other MDA Space news, Senior Officer Minda Marie Suchan sold 40,000 shares of MDA Space stock in a transaction on Friday, June 20th. The shares were sold at an average price of C$30.64, for a total transaction of C$1,225,608.00. Also, Director Brendan Paddick sold 54,400 shares of MDA Space stock in a transaction on Monday, August 25th. The stock was sold at an average price of C$45.09, for a total transaction of C$2,452,727.36. Following the transaction, the director directly owned 1,181,953 shares in the company, valued at C$53,290,596.72. This represents a 4.40% decrease in their ownership of the stock. Over the last ninety days, insiders sold 372,230 shares of company stock worth $15,228,315. Company insiders own 12.60% of the company's stock.

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.