MDA Space (TSE:MDA) Price Target Raised to C$68.00 at BMO Capital Markets

MDA Space (TSE:MDA) had its price target lifted by equities research analysts at BMO Capital Markets from C$53.00 to C$68.00 in a report released on Monday,BayStreet.CA reports. The firm currently has an “outperform” rating on the stock. BMO Capital Markets’ price target suggests a potential upside of 20.46% from the stock’s current price.

Other research analysts have also recently issued research 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. ATB Cormark Capital Markets lowered MDA Space from a “moderate buy” rating to a “hold” rating and upped their price objective for the stock from C$53.00 to C$67.00 in a research note on Friday, May 29th. Canadian Imperial Bank of Commerce set a C$57.00 target price on MDA Space and gave the stock an “outperformer” rating in a report on Thursday, May 14th. Jefferies Financial Group upgraded MDA Space to a “strong-buy” rating in a research report on Wednesday, June 10th. Finally, Stifel Nicolaus boosted their price target on MDA Space from C$57.00 to C$70.00 and gave the company a “buy” rating in a report on Thursday, June 4th. Two analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Buy” and an average target price of C$63.40.

MDA Space Stock Performance

Shares of MDA stock traded down C$2.66 during trading hours on Monday, reaching C$56.45. The company had a trading volume of 723,585 shares, 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. The business has a fifty day moving average price of C$51.42 and a 200-day moving average price of C$40.49. MDA Space has a one year low of C$20.85 and a one year high of C$67.90. The firm has a market cap of C$7.83 billion, a PE ratio of 70.56 and a beta of -0.53.

MDA Space (TSE:MDA) last issued its quarterly earnings data on Thursday, May 7th. The company reported C$0.38 EPS for the quarter. The company had revenue of C$464.10 million during the quarter. MDA Space had a return on equity of 7.24% and a net margin of 6.02%. Sell-side analysts predict that MDA Space will post 0.9605084 earnings per share for the current fiscal year.

Insider Activity at MDA Space

In related news, insider Holly Lynn Johnson sold 45,000 shares of the firm’s stock in a transaction on Wednesday, June 10th. The shares were sold at an average price of C$52.79, for a total value of C$2,375,550.00. Following the completion of the transaction, the insider directly owned 60,331 shares of the company’s stock, valued at approximately C$3,184,873.49. This trade represents a 42.72% decrease in their ownership of the stock. Also, 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. Insiders sold 119,269 shares of company stock worth $6,318,903 over the last 90 days. 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.