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

MDA Space (TSE:MDA) had its target price reduced by ATB Cormark Capital Markets from C$62.00 to C$51.00 in a research note published on Friday morning,BayStreet.CA reports. They currently have a sector perform rating on the stock.

MDA has been the topic of several other research reports. Canadian Imperial Bank of Commerce reduced their price objective on shares of MDA Space from C$67.00 to C$59.00 in a research note on Wednesday. Canaccord Genuity Group increased their target price on MDA Space from C$56.00 to C$65.00 and gave the stock a “buy” rating in a report on Monday, June 22nd. Desjardins boosted their price target on shares of MDA Space from C$70.00 to C$72.00 and gave the stock a “buy” rating in a research report on Wednesday. Royal Bank Of Canada set a C$58.00 price objective on shares of MDA Space and gave the company an “outperform” rating in a research report on Thursday. 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. Two research analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat.com, MDA Space presently has an average rating of “Buy” and a consensus price target of C$64.70.

MDA Space Trading Down 4.1%

Shares of TSE:MDA opened at C$42.35 on Friday. The firm has a fifty day moving average of C$54.58 and a two-hundred day moving average of C$44.16. The company has a quick ratio of 1.00, a current ratio of 0.80 and a debt-to-equity ratio of 20.62. 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 capitalization of C$5.88 billion, a P/E ratio of 53.37 and a beta of -0.34.

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

Insider Transactions at MDA Space

In other news, insider Luigi Pozzebon sold 31,686 shares of the stock in a transaction on Thursday, June 11th. The stock was sold at an average price of C$52.90, for a total transaction of C$1,676,189.40. Also, insider Holly Lynn Johnson sold 45,000 shares of the business’s stock in a transaction that occurred on 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 transaction, the insider directly owned 60,331 shares of the company’s stock, valued at approximately C$3,184,873.49. This represents a 42.72% decrease in their position. Insiders have sold 119,269 shares of company stock valued at $6,318,903 in the last 90 days. 12.60% of the stock is currently owned by company 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.