MDA Space (TSE:MDA) Reaches New 1-Year High Following Analyst Upgrade

MDA Space Ltd. (TSE:MDA) hit a new 52-week high during mid-day trading on Thursday after Royal Bank of Canada raised their price target on the stock from C$28.00 to C$30.00. The company traded as high as C$27.47 and last traded at C$26.54, with a volume of 521626 shares trading hands. The stock had previously closed at C$26.37.

A number of other research analysts also recently issued reports on MDA. Canaccord Genuity Group boosted their price objective on MDA Space from C$21.00 to C$27.00 in a research note on Monday, November 4th. BMO Capital Markets raised MDA Space from a “market perform” rating to an “outperform” rating and increased their price target for the company from C$15.00 to C$28.00 in a research note on Monday, November 4th. Desjardins upgraded MDA Space to a “moderate buy” rating in a research report on Wednesday, October 30th. Scotiabank raised their price objective on MDA Space from C$22.00 to C$25.00 and gave the company an “outperform” rating in a research note on Friday, November 1st. Finally, Cormark boosted their target price on MDA Space from C$30.00 to C$31.00 in a research report on Monday. Four equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average target price of C$27.83.

Insider Transactions at MDA Space

In other news, Director John Carter Risley sold 22,500 shares of the firm’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of C$15.42, for a total transaction of C$347,017.50. Also, Director Michael Philip Greenley sold 175,000 shares of the stock in a transaction that occurred on Sunday, September 22nd. The shares were sold at an average price of C$16.64, for a total transaction of C$2,911,632.50. Over the last three months, insiders have sold 198,920 shares of company stock worth $3,281,370. 12.60% of the stock is currently owned by company insiders.

MDA Space Stock Up 0.6 %

The company’s 50-day moving average is C$20.25 and its 200 day moving average is C$15.76. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 45.79. The stock has a market capitalization of C$3.19 billion, a PE ratio of 68.95 and a beta of 0.02.

MDA Space Company Profile

MDA Ltd. designs, manufactures, and services space robotics, satellite systems and components, and intelligence systems in Canada, the United States, Europe, Asia, the Middle East, and internationally. The company offers geointelligence solutions that use satellite-generated imagery and analytic services to deliver critical and value-added insights in the areas of national security, climate change monitoring, and maritime surveillance; owns and operates commercial data distribution for its satellite RADARSAT-2; and distributes high resolution optical imagery, satellite-based automatic identification system data, and radio-frequency data for other third-party missions.