MDA Space (TSE:MDA) Price Target Cut to C$59.00 by Analysts at Canadian Imperial Bank of Commerce

MDA Space (TSE:MDA) had its target price reduced by Canadian Imperial Bank of Commerce from C$67.00 to C$59.00 in a research report sent to investors on Wednesday morning,BayStreet.CA reports.

MDA has been the topic of several other reports. BMO Capital Markets upped their price objective on shares of MDA Space from C$53.00 to C$68.00 and gave the stock an “outperform” rating in a research note on Monday, June 22nd. Desjardins boosted their target price on MDA Space from C$66.00 to C$70.00 and gave the stock a “buy” rating in a report on Monday, June 22nd. Jefferies Financial Group upgraded MDA Space to a “strong-buy” rating in a research report on Wednesday, June 10th. Scotiabank raised their price target on MDA Space from C$70.00 to C$71.00 and gave the company a “sector outperform” rating in a report on Monday, June 22nd. Finally, Scotia lifted their price objective on 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. Two analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Buy” and a consensus price target of C$63.80.

MDA Space Stock Performance

MDA opened at C$46.60 on Wednesday. The company has a quick ratio of 1.00, a current ratio of 0.80 and a debt-to-equity ratio of 20.62. The stock’s 50 day moving average price is C$54.72 and its two-hundred day moving average price is C$44.05. The firm has a market capitalization of C$6.47 billion, a P/E ratio of 58.73 and a beta of -0.34. 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 posted its quarterly earnings results on Thursday, May 7th. The company reported C$0.38 EPS for the quarter. The firm 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%. On average, equities analysts forecast that MDA Space will post 0.9605084 earnings per share for the current year.

Insider Activity at MDA Space

In other news, insider Luigi Pozzebon sold 31,686 shares of MDA Space stock in a transaction that occurred on Thursday, June 11th. The shares were sold at an average price of C$52.90, for a total value of C$1,676,189.40. Also, insider Holly Lynn Johnson sold 45,000 shares of the business’s stock in a transaction dated 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 directly owned 60,331 shares in the company, valued at C$3,184,873.49. This trade represents a 42.72% decrease in their ownership of the stock. Insiders sold 119,269 shares of company stock worth $6,318,903 over the last three months. 12.60% of the stock is currently owned by insiders.

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.