ATB Cormark Capital Markets Lowers MDA Space (TSE:MDA) Price Target to C$51.00

MDA Space (TSE:MDA) had its target price decreased by equities researchers at ATB Cormark Capital Markets from C$62.00 to C$51.00 in a research note issued on Friday,BayStreet.CA reports. The brokerage currently has a “sector perform” rating on the stock. ATB Cormark Capital Markets’ price objective points to a potential upside of 18.83% from the company’s current price.

A number of other equities research analysts also recently weighed in on MDA. Jefferies Financial Group raised shares of MDA Space to a “strong-buy” rating in a research report on Wednesday, June 10th. Scotiabank lifted their target price on MDA Space from C$70.00 to C$71.00 and gave the company a “sector outperform” rating in a research note on Monday, June 22nd. Canadian Imperial Bank of Commerce lowered their target price on MDA Space from C$67.00 to C$59.00 in a report on Wednesday. Canaccord Genuity Group increased their price target on MDA Space from C$56.00 to C$65.00 and gave the stock a “buy” rating in a research report on Monday, June 22nd. Finally, Royal Bank Of Canada set a C$58.00 price target on MDA Space and gave the stock an “outperform” rating in a report on Thursday. Two equities research 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, MDA Space has an average rating of “Buy” and a consensus price target of C$64.70.

MDA Space Stock Performance

MDA traded down C$1.23 during trading hours on Friday, hitting C$42.92. 773,412 shares of the stock were exchanged, compared to its average volume of 1,206,802. The stock has a market cap of C$5.96 billion, a price-to-earnings ratio of 54.09 and a beta of -0.34. The stock has a 50-day simple moving average of C$54.67 and a 200-day simple moving average of C$44.18. The company has a debt-to-equity ratio of 20.62, a current ratio of 0.80 and a quick ratio of 1.00. MDA Space has a 12 month low of C$20.85 and a 12 month high of C$67.90.

MDA Space (TSE:MDA) last released its earnings results on Thursday, May 7th. The company reported C$0.38 earnings per share for the quarter. The firm had revenue of C$464.10 million during the quarter. MDA Space had a net margin of 6.02% and a return on equity of 7.24%. Analysts anticipate that MDA Space will post 0.9605084 earnings per share for the current year.

Insider Activity

In other news, insider Holly Lynn Johnson sold 45,000 shares of MDA Space stock in a transaction that occurred on Wednesday, June 10th. The stock was sold at an average price of C$52.79, for a total transaction of C$2,375,550.00. Following the sale, the insider owned 60,331 shares of the company’s stock, valued at approximately C$3,184,873.49. The trade was a 42.72% decrease in their ownership of the stock. Also, insider Guillaume Lavoie sold 688 shares of the business’s stock in a transaction that occurred on Friday, June 12th. The stock was sold at an average price of C$55.62, for a total value of C$38,266.56. Following the transaction, the insider owned 5,569 shares of the company’s stock, valued at approximately C$309,747.78. This represents a 11.00% decrease in their ownership of the stock. Insiders have sold a total of 119,269 shares of company stock worth $6,318,903 over the last ninety days. 12.60% of the stock is owned by company insiders.

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.