BMO Capital Markets Lowers MDA Space (TSE:MDA) Price Target to C$32.00

MDA Space (TSE:MDA) had its target price decreased by stock analysts at BMO Capital Markets from C$36.00 to C$32.00 in a research report issued on Monday,BayStreet.CA reports. BMO Capital Markets’ target price points to a potential upside of 49.32% from the company’s current price.

A number of other research firms have also issued reports on MDA. Desjardins dropped their price target on MDA Space from C$56.00 to C$43.00 and set a “buy” rating for the company in a research report on Tuesday, September 9th. Stifel Canada upgraded MDA Space to a “strong-buy” rating in a report on Tuesday, October 7th. Stifel Nicolaus set a C$48.00 target price on MDA Space and gave the stock a “buy” rating in a research note on Wednesday, October 8th. Scotiabank cut their price objective 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. Finally, Canaccord Genuity Group decreased their target price on shares of MDA Space from C$54.00 to C$47.00 in a report on Tuesday, September 9th. One research analyst has rated the stock with a Strong Buy rating and six have issued a Buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and an average target price of C$37.60.

MDA Space Price Performance

MDA traded down C$0.83 on Monday, reaching C$21.43. 628,521 shares of the company’s stock were exchanged, compared to its average volume of 634,963. The stock has a market cap of C$2.68 billion, a PE ratio of 23.81 and a beta of -0.86. The company has a debt-to-equity ratio of 34.94, a current ratio of 0.83 and a quick ratio of 1.00. MDA Space has a twelve month low of C$19.96 and a twelve month high of C$48.31. The stock’s fifty day moving average price is C$31.93 and its 200-day moving average price is C$34.36.

Insider Activity

In other MDA Space news, insider Holly Lynn Johnson sold 40,620 shares of the stock in a transaction that occurred on Tuesday, August 19th. The shares were sold at an average price of C$45.80, for a total transaction of C$1,860,396.00. Following the sale, the insider directly owned 34,810 shares in the company, valued at C$1,594,298. This represents a 53.85% decrease in their position. Also, insider Guillaume Lavoie purchased 1,220 shares of the firm’s stock in a transaction on Tuesday, September 9th. The stock was acquired at an average cost of C$33.91 per share, with a total value of C$41,370.20. Following the transaction, the insider directly owned 4,562 shares in the company, valued at C$154,697.42. This trade represents a 36.51% increase in their ownership of the stock. Over the last quarter, insiders sold 140,620 shares of company stock valued at $6,457,053. 12.60% of the stock is currently owned by company insiders.

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.