MDA Space (TSE:MDA) Rating Lowered to “Sector Perform” at Scotiabank

MDA Space (TSE:MDA) was downgraded by stock analysts at Scotiabank from an “outperform” rating to a “sector perform” rating in a research report issued to clients and investors on Thursday,BayStreet.CA reports. They currently have a C$39.00 price objective on the stock, up from their prior price objective of C$33.00. Scotiabank’s target price would indicate a potential upside of 4.92% from the stock’s current price.

A number of other research analysts have also commented on the stock. Canaccord Genuity Group decreased their price target on shares of MDA Space from C$37.00 to C$36.00 and set a “buy” rating on the stock in a research note on Wednesday, May 21st. Desjardins upped their price target on shares of MDA Space from C$38.00 to C$40.00 and gave the company a “buy” rating in a research note on Monday, June 23rd. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of C$34.78.

MDA Space Stock Up 1.1%

MDA Space stock opened at C$37.17 on Thursday. The firm has a market capitalization of C$4.53 billion, a PE ratio of 66.07 and a beta of 0.02. The company’s 50-day moving average is C$28.89 and its 200-day moving average is C$27.14. MDA Space has a fifty-two week low of C$11.78 and a fifty-two week high of C$37.40. The company has a debt-to-equity ratio of 34.94, a current ratio of 0.83 and a quick ratio of 1.00.

Insider Buying and Selling at MDA Space

In other MDA Space news, Director Michael Philip James Greenley sold 200,000 shares of MDA Space stock in a transaction on Wednesday, June 11th. The shares were sold at an average price of C$29.04, for a total value of C$5,807,400.00. Also, Senior Officer Luigi Pozzebon sold 8,000 shares of MDA Space stock in a transaction on Tuesday, June 24th. The shares were sold at an average price of C$32.02, for a total transaction of C$256,160.00. Insiders have sold 306,000 shares of company stock valued at $9,024,768 over the last three months. 12.60% of the stock is currently owned by corporate insiders.

MDA Space Company Profile

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.