Royal Bank of Canada Forecasts Strong Price Appreciation for MDA Space (TSE:MDA) Stock

MDA Space (TSE:MDA) had its target price boosted by equities research analysts at Royal Bank of Canada from C$28.00 to C$30.00 in a research note issued on Wednesday,BayStreet.CA reports. Royal Bank of Canada’s price objective suggests a potential upside of 13.38% from the company’s current price.

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

MDA Space Stock Down 0.3 %

TSE:MDA opened at C$26.46 on Wednesday. MDA Space has a 52 week low of C$10.65 and a 52 week high of C$27.47. The stock’s fifty day moving average is C$20.47 and its two-hundred day moving average is C$15.84. The stock has a market capitalization of C$3.18 billion, a price-to-earnings ratio of 69.84 and a beta of 0.02. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 45.79.

Insider Buying and Selling at MDA Space

In related news, Director Michael Philip Greenley sold 175,000 shares of the company’s stock in a transaction dated Sunday, September 22nd. The stock was sold at an average price of C$16.64, for a total value of C$2,911,632.50. Also, 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. In the last three months, insiders have sold 198,920 shares of company stock valued at $3,281,370. Insiders own 12.60% of the company’s stock.

About MDA Space

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.