Desjardins Increases MDA Space (TSE:MDA) Price Target to C$70.00

MDA Space (TSE:MDA) had its target price increased by equities research analysts at Desjardins from C$66.00 to C$70.00 in a report released on Monday,BayStreet.CA reports. The brokerage presently has a “buy” rating on the stock. Desjardins’ price target suggests a potential upside of 24.00% from the company’s previous close.

A number of other equities research analysts have also weighed in on MDA. Jefferies Financial Group upgraded MDA Space to a “strong-buy” rating in a research note on Wednesday, June 10th. Canaccord Genuity Group set a C$56.00 price objective on shares of MDA Space and gave the company a “buy” rating in a research report on Wednesday, April 22nd. BMO Capital Markets lifted their target price on MDA Space from C$53.00 to C$68.00 and gave the company an “outperform” rating in a research note on Monday. Scotiabank upgraded MDA Space to a “strong-buy” rating in a research note on Thursday, March 19th. Finally, Canadian Imperial Bank of Commerce set a C$57.00 target price on MDA Space and gave the company an “outperformer” rating in a report on Thursday, May 14th. Two equities 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 company’s stock. Based on data from MarketBeat.com, MDA Space currently has an average rating of “Buy” and an average target price of C$63.40.

MDA Space Stock Down 4.5%

Shares of MDA stock traded down C$2.66 on Monday, hitting C$56.45. The stock had a trading volume of 723,585 shares, compared to its average volume of 1,187,821. The stock’s 50 day moving average is C$51.42 and its 200-day moving average is C$40.49. The firm has a market capitalization of C$7.83 billion, a price-to-earnings ratio of 70.56 and a beta of -0.53. MDA Space has a 52-week low of C$20.85 and a 52-week high of C$67.90. 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 (TSE:MDA) last issued its quarterly earnings data on Thursday, May 7th. The company reported C$0.38 EPS for the quarter. MDA Space had a net margin of 6.02% and a return on equity of 7.24%. The firm had revenue of C$464.10 million for the quarter. As a group, research analysts expect that MDA Space will post 0.9605084 earnings per share for the current year.

Insider Transactions at MDA Space

In other news, insider Luigi Pozzebon sold 31,686 shares of MDA Space stock in a transaction on Thursday, June 11th. The stock was sold at an average price of C$52.90, for a total transaction of C$1,676,189.40. Also, insider Minda Marie Suchan sold 40,000 shares of the business’s stock in a transaction on Wednesday, June 10th. The stock was sold at an average price of C$53.22, for a total value of C$2,128,800.00. Following the completion of the sale, the insider directly owned 49,784 shares in the company, valued at C$2,649,504.48. This represents a 44.55% decrease in their position. In the last 90 days, insiders sold 119,269 shares of company stock valued at $6,318,903. Company insiders own 12.60% of the company’s stock.

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.