MDA Space Ltd. (TSE:MDA) Given Consensus Recommendation of “Buy” by Analysts

MDA Space Ltd. (TSE:MDA) has been assigned a consensus recommendation of “Buy” from the eleven ratings firms that are currently covering the firm, Marketbeat reports. One equities research analyst has rated the stock with a hold rating, eight have assigned a buy rating and two have issued a strong buy rating on the company. The average 1-year target price among brokers that have covered the stock in the last year is C$64.50.

Several analysts have recently issued reports on MDA shares. Jefferies Financial Group raised MDA Space to a “strong-buy” rating in a report on Wednesday, June 10th. BMO Capital Markets raised their target price on shares of MDA Space from C$53.00 to C$68.00 and gave the company an “outperform” rating in a report on Monday, June 22nd. Canadian Imperial Bank of Commerce reduced their price target on shares of MDA Space from C$67.00 to C$59.00 in a research report on Wednesday, July 15th. Royal Bank Of Canada upped their price target on shares of MDA Space from C$58.00 to C$60.00 and gave the company an “outperform” rating in a research note on Monday, August 10th. Finally, Scotia increased their price objective on shares of MDA Space from C$53.00 to C$70.00 and gave the company a “sector outperform” rating in a research report on Thursday, May 28th.

MDA Space Price Performance

Shares of MDA Space stock opened at C$40.84 on Tuesday. The stock has a 50 day moving average of C$46.05 and a 200 day moving average of C$46.79. MDA Space has a 12 month low of C$20.85 and a 12 month high of C$67.90. The firm has a market cap of C$6.62 billion, a PE ratio of 51.70 and a beta of -0.19. The company has a current ratio of 0.75, a quick ratio of 1.00 and a debt-to-equity ratio of 20.01.

Insider Buying and Selling at MDA Space

In other news, insider Holly Lynn Johnson sold 45,000 shares of the company’s stock in a transaction dated Wednesday, June 10th. The shares were sold at an average price of C$52.79, for a total transaction of C$2,375,550.00. Following the sale, the insider directly owned 60,331 shares in the company, valued at approximately C$3,184,873.49. This represents a 42.72% decrease in their position. Also, insider Minda Marie Suchan sold 40,000 shares of the stock in a transaction dated Wednesday, June 10th. The shares were sold at an average price of C$53.22, for a total transaction of C$2,128,800.00. Following the completion of the transaction, the insider directly owned 49,784 shares of the company’s stock, valued at approximately C$2,649,504.48. The trade was a 44.55% decrease in their position. In the last 90 days, insiders have sold 119,269 shares of company stock valued at $6,318,903. Corporate 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.