ATB Cormark Capital Markets Cuts MDA Space (TSE:MDA) Price Target to C$48.00

MDA Space (TSE:MDA) had its target price reduced by ATB Cormark Capital Markets from C$51.00 to C$48.00 in a research report released on Monday,BayStreet.CA reports. They currently have a sector perform rating on the stock.

Other equities research analysts have also issued research reports about the stock. Scotia boosted their price target on shares of MDA Space from C$53.00 to C$70.00 and gave the company a “sector outperform” rating in a report on Thursday, May 28th. Morgan Stanley increased their price objective on shares of MDA Space from C$51.00 to C$58.00 in a research note on Friday, May 8th. Stifel Nicolaus lifted their price objective on shares of MDA Space from C$70.00 to C$75.00 and gave the company a “buy” rating in a report on Monday, June 22nd. Royal Bank Of Canada boosted their price objective on shares of MDA Space from C$58.00 to C$60.00 and gave the stock an “outperform” rating in a research note on Monday. Finally, Scotiabank upped their target price on MDA Space from C$70.00 to C$71.00 and gave the stock a “sector outperform” rating in a report on Monday, June 22nd. Two research analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target of C$64.50.

MDA Space Stock Up 4.4%

TSE:MDA opened at C$49.71 on Monday. The company has a debt-to-equity ratio of 20.01, a current ratio of 0.75 and a quick ratio of 1.00. MDA Space has a 1-year low of C$20.85 and a 1-year high of C$67.90. The company has a 50-day moving average of C$50.17 and a 200 day moving average of C$46.04. The firm has a market cap of C$8.06 billion, a PE ratio of 62.92 and a beta of -0.37.

Insider Buying and Selling

In other MDA Space news, insider Guillaume Lavoie sold 1,500 shares of the business’s stock in a transaction dated Thursday, June 11th. The shares were sold at an average price of C$52.63, for a total value of C$78,945.00. Following the completion of the transaction, the insider directly owned 6,257 shares in the company, valued at approximately C$329,305.91. The trade was a 19.34% decrease in their ownership of the stock. Also, insider Luigi Pozzebon sold 31,686 shares of the stock in a transaction dated Thursday, June 11th. The shares were sold at an average price of C$52.90, for a total transaction of C$1,676,189.40. Insiders have sold 119,269 shares of company stock worth $6,318,903 over the last ninety days. 12.60% of the stock is currently owned by company insiders.

About MDA Space

Building the space between proven and possible, MDA Space (TSX:MDA; NYSE:MDA) is a trusted mission partner to the global defence and space industry. A robotics, satellite systems and geointelligence pioneer with a 55-year+ story of world firsts and more than 450 missions, MDA Space is a global leader in communications satellites, Earth and space observation, and space exploration and infrastructure. The global MDA Space team of more than 4,000 space experts has the knowledge and know-how to turn an audacious customer vision into an achievable mission – bringing to bear a one-of-a-kind mix of experience, engineering excellence and wide-eyed wonder that’s been in our DNA since day one.