MDA Space (TSE:MDA) Given New C$45.00 Price Target at Royal Bank Of Canada

MDA Space (TSE:MDA) had its price target reduced by equities researchers at Royal Bank Of Canada from C$53.00 to C$45.00 in a note issued to investors on Tuesday,BayStreet.CA reports. The brokerage presently has an “outperform” rating on the stock. Royal Bank Of Canada’s price target suggests a potential upside of 41.60% from the company’s previous close.

Other equities analysts have also recently issued reports about the stock. Canaccord Genuity Group decreased their price objective on shares of MDA Space from C$54.00 to C$47.00 in a research report on Tuesday. Scotiabank raised shares of MDA Space from a “hold” rating to a “strong-buy” rating and upped their price objective for the company from C$39.00 to C$55.00 in a research report on Tuesday, August 5th. BMO Capital Markets upped their price objective on shares of MDA Space from C$33.00 to C$53.00 and gave the company an “outperform” rating in a research report on Tuesday, August 5th. Finally, Desjardins upped their target price on shares of MDA Space from C$40.00 to C$55.00 and gave the company a “buy” rating in a research note on Tuesday, August 5th. Six investment analysts have rated the stock with a Buy rating, According to MarketBeat, the company currently has an average rating of “Buy” and a consensus target price of C$38.44.

MDA Space Stock Performance

TSE:MDA opened at C$31.78 on Tuesday. The company has a debt-to-equity ratio of 34.94, a current ratio of 0.83 and a quick ratio of 1.00. The firm has a 50-day moving average of C$41.80 and a two-hundred day moving average of C$32.23. The stock has a market cap of C$3.97 billion, a P/E ratio of 35.31 and a beta of -0.63. MDA Space has a 1-year low of C$14.99 and a 1-year high of C$48.31.

Insiders Place Their Bets

In other news, Director John Carter Risley sold 184,230 shares of the company’s stock in a transaction dated Thursday, August 14th. The shares were sold at an average price of C$43.00, for a total value of C$7,921,890.00. Following the sale, the director owned 1,246,020 shares in the company, valued at approximately C$53,578,860. This represents a 12.88% decrease in their position. Also, Senior Officer Holly Lynn Johnson sold 31,200 shares of the stock in a transaction dated Monday, June 23rd. The stock was sold at an average price of C$30.70, for a total transaction of C$957,840.00. In the last quarter, insiders have sold 372,230 shares of company stock worth $15,228,315. Company insiders own 12.60% of the company’s stock.

About MDA Space

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.