MDA Space (TSE:MDA) Upgraded by Scotiabank to Outperform Rating

MDA Space (TSE:MDA) was upgraded by analysts at Scotiabank from a “sector perform” rating to an “outperform” rating in a research report issued on Tuesday, MarketBeat.com reports. The brokerage currently has a C$55.00 target price on the stock, up from their prior target price of C$39.00. Scotiabank’s target price points to a potential upside of 28.29% from the stock’s current price.

Several other equities analysts have also commented on the stock. Royal Bank Of Canada upped their price target on shares of MDA Space from C$35.00 to C$42.00 and gave the stock an “outperform” rating in a research report on Thursday, July 3rd. Canaccord Genuity Group lifted their price target on shares of MDA Space from C$36.00 to C$45.00 and gave the company a “buy” rating in a report on Friday, July 11th. Desjardins raised their price target on MDA Space from C$40.00 to C$55.00 and gave the company a “buy” rating in a report on Tuesday. Finally, BMO Capital Markets lifted their price target on MDA Space from C$33.00 to C$53.00 and gave the company an “outperform” rating in a research report on Tuesday. Five equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Buy” and an average target price of C$43.22.

MDA Space Stock Performance

MDA traded down C$1.59 during trading on Tuesday, reaching C$42.87. The company’s stock had a trading volume of 332,593 shares, compared to its average volume of 501,986. The company’s fifty day moving average price is C$36.20 and its 200-day moving average price is C$29.26. The company has a debt-to-equity ratio of 34.94, a quick ratio of 1.00 and a current ratio of 0.83. The company has a market capitalization of C$5.23 billion, a price-to-earnings ratio of 76.20 and a beta of 0.02. MDA Space has a 52-week low of C$13.55 and a 52-week high of C$48.31.

Insider Activity

In other news, Senior Officer Luigi Pozzebon sold 8,000 shares of the company’s stock in a transaction that occurred on Tuesday, June 24th. The shares were sold at an average price of C$32.02, for a total value of C$256,160.00. Also, Director Michael Philip James Greenley sold 200,000 shares of the business’s stock in a transaction on Wednesday, June 11th. The stock was sold at an average price of C$29.04, for a total transaction of C$5,807,400.00. Over the last quarter, insiders have sold 306,000 shares of company stock worth $9,024,768. 12.60% of the stock is currently 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.