MDA Space (NYSE:MDA) Price Target Raised to $50.00

MDA Space (NYSE:MDA) had its price target increased by JPMorgan Chase & Co. from $43.00 to $50.00 in a report issued on Wednesday,Benzinga reports. The firm currently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price target would indicate a potential upside of 54.56% from the company’s current price.

MDA has been the topic of several other reports. Canaccord Genuity Group upgraded shares of MDA Space to a “strong-buy” rating in a research note on Wednesday, April 22nd. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and issued a $41.00 target price on shares of MDA Space in a research note on Monday, August 10th. ATB Cormark Capital Markets cut MDA Space from a “moderate buy” rating to a “hold” rating in a report on Friday, May 29th. Scotiabank reissued an “outperform” rating on shares of MDA Space in a research report on Monday, June 22nd. Finally, Canadian Imperial Bank of Commerce restated an “outperform” rating on shares of MDA Space in a research note on Monday, June 22nd. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $50.00.

MDA Space Stock Performance

MDA traded down $1.66 during trading on Wednesday, reaching $32.35. 428,225 shares of the stock were exchanged, compared to its average volume of 1,230,505. The company has a market cap of $5.24 billion and a PE ratio of 59.91. MDA Space has a twelve month low of $23.23 and a twelve month high of $49.37. The business’s 50 day moving average price is $35.25. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.72 and a current ratio of 0.75.

MDA Space (NYSE:MDA) last posted its quarterly earnings results on Friday, August 7th. The company reported $0.26 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.24 by $0.02. The firm had revenue of $360.18 million for the quarter, compared to analyst estimates of $321.87 million. MDA Space had a net margin of 5.68% and a return on equity of 9.42%. Equities research analysts predict that MDA Space will post 0.98 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of MDA. Tacita Capital Inc lifted its position in MDA Space by 16,480.0% during the second quarter. Tacita Capital Inc now owns 2,487 shares of the company’s stock worth $103,000 after acquiring an additional 2,472 shares during the last quarter. Capstone Investment Advisors LLC bought a new stake in shares of MDA Space during the second quarter worth approximately $276,000. Citizens Financial Group Inc. RI acquired a new stake in MDA Space during the 2nd quarter worth approximately $388,000. Quantbot Technologies LP acquired a new stake in MDA Space during the 2nd quarter worth approximately $593,000. Finally, SCS Capital Management LLC bought a new stake in MDA Space in the 2nd quarter valued at $1,003,000.

MDA Space Company Profile

MDA Space Ltd is a developer and manufacturer of technology and services to the space industry. It is an international space mission partner and robotics, satellite systems, and geo-intelligence pioneer. It is engaged in communications satellites, Earth and space observation, space exploration, and infrastructure. The Company collaborates and partners with governments and space agencies, commercial space companies, and defence and aerospace prime contractors in the space industry. Geographically, it generates the majority of its revenue from Canada.