Canaccord Genuity Group Increases MDA Space (TSE:MDA) Price Target to C$51.00

MDA Space (TSE:MDA) had its price objective hoisted by research analysts at Canaccord Genuity Group from C$37.00 to C$51.00 in a report released on Thursday,BayStreet.CA reports. The firm presently has a “buy” rating on the stock. Canaccord Genuity Group’s target price points to a potential upside of 32.71% from the company’s previous close.

MDA has been the topic of several other reports. BMO Capital Markets lifted their target price on shares of MDA Space from C$36.00 to C$45.00 and gave the stock an “outperform” rating in a research report on Wednesday. Morgan Stanley upgraded shares of MDA Space from an “equal weight” rating to an “overweight” rating and raised their price target for the stock from C$32.00 to C$46.00 in a report on Friday, January 16th. Scotiabank upped their target price on MDA Space from C$38.00 to C$42.00 and gave the company an “outperform” rating in a research report on Wednesday, January 21st. Royal Bank Of Canada decreased their price target on shares of MDA Space from C$45.00 to C$38.00 in a research note on Monday, November 17th. Finally, Stifel Nicolaus set a C$48.00 price objective on shares of MDA Space and gave the stock a “buy” rating in a research report on Wednesday, October 8th. One analyst has rated the stock with a Strong Buy rating and six have issued a Buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Buy” and an average target price of C$44.71.

MDA Space Price Performance

Shares of TSE:MDA opened at C$38.43 on Thursday. MDA Space has a one year low of C$20.11 and a one year high of C$48.31. The company has a debt-to-equity ratio of 34.94, a current ratio of 0.83 and a quick ratio of 1.00. The company has a market cap of C$4.85 billion, a price-to-earnings ratio of 45.21 and a beta of -1.15. The firm has a 50 day simple moving average of C$28.78 and a 200 day simple moving average of C$33.56.

MDA Space (TSE:MDA) last posted its earnings results on Friday, November 14th. The company reported C$0.35 earnings per share for the quarter. The firm had revenue of C$409.80 million for the quarter. MDA Space had a net margin of 7.22% and a return on equity of 6.17%. Research analysts predict that MDA Space will post 0.9605084 earnings per share for the current fiscal year.

Insider Buying and Selling at MDA Space

In other news, Director John Carter Risley sold 75,700 shares of MDA Space stock in a transaction dated Tuesday, December 23rd. The shares were sold at an average price of C$27.17, for a total transaction of C$2,056,769.00. Following the completion of the transaction, the director directly owned 313,710 shares in the company, valued at C$8,523,500.70. This trade represents a 19.44% decrease in their ownership of the stock. Company insiders own 12.60% of the company’s stock.

About MDA Space

MDA Space Ltd, formerly MDA Ltd, is a global space company. The Company is a robotics, satellite systems and Geo intelligence provider. It provides communications satellites and earth and space observation. It is also involved in space exploration and infrastructure. Its software, AURORA, is a digital satellite product line providing critical new solutions to operators. AURORA technology enables constellations to extend communication networks to every corner of the globe with digital automation, and robotics.