MDA Space (TSE:MDA) Price Target Raised to C$65.00 at Canaccord Genuity Group

MDA Space (TSE:MDA) had its target price lifted by research analysts at Canaccord Genuity Group from C$56.00 to C$65.00 in a note issued to investors on Monday,BayStreet.CA reports. The firm presently has a “buy” rating on the stock. Canaccord Genuity Group’s price target points to a potential upside of 15.15% from the stock’s previous close.

Other analysts have also issued reports about the stock. Scotia lifted their price target on shares of MDA Space from C$53.00 to C$70.00 and gave the stock a “sector outperform” rating in a research note on Thursday, May 28th. Desjardins increased their price objective on shares of MDA Space from C$66.00 to C$70.00 and gave the company a “buy” rating in a research report on Monday. Jefferies Financial Group upgraded shares of MDA Space to a “strong-buy” rating in a report on Wednesday, June 10th. BMO Capital Markets lifted their target price on shares of MDA Space from C$53.00 to C$68.00 and gave the stock an “outperform” rating in a research report on Monday. Finally, Stifel Nicolaus boosted their target price on shares of MDA Space from C$70.00 to C$75.00 and gave the company a “buy” rating in a research note on Monday. Two research analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Buy” and an average price target of C$63.40.

MDA Space Stock Performance

Shares of TSE:MDA traded down C$2.66 during midday trading on Monday, reaching C$56.45. 723,585 shares of the company’s stock traded hands, compared to its average volume of 1,187,821. The company has a debt-to-equity ratio of 20.62, a quick ratio of 1.00 and a current ratio of 0.80. MDA Space has a one year low of C$20.85 and a one year high of C$67.90. The company has a market cap of C$7.83 billion, a price-to-earnings ratio of 70.56 and a beta of -0.53. The stock has a 50 day moving average of C$51.42 and a 200 day moving average of C$40.49.

MDA Space (TSE:MDA) last released its quarterly earnings data on Thursday, May 7th. The company reported C$0.38 EPS for the quarter. MDA Space had a return on equity of 7.24% and a net margin of 6.02%.The company had revenue of C$464.10 million during the quarter. As a group, equities research analysts anticipate that MDA Space will post 0.9605084 EPS for the current fiscal year.

Insider Buying and Selling

In related news, insider Luigi Pozzebon sold 31,686 shares of the firm’s stock in a transaction on Thursday, June 11th. The stock was sold at an average price of C$52.90, for a total value of C$1,676,189.40. Also, insider Guillaume Lavoie sold 688 shares of MDA Space stock in a transaction on Friday, June 12th. The shares were sold at an average price of C$55.62, for a total value of C$38,266.56. Following the transaction, the insider owned 5,569 shares in the company, valued at C$309,747.78. This trade represents a 11.00% decrease in their ownership of the stock. Over the last quarter, insiders have sold 119,269 shares of company stock valued at $6,318,903. Company insiders own 12.60% of the company’s stock.

MDA Space Company Profile

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.