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

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

MDA has been the topic of a number of other research reports. BMO Capital Markets upgraded MDA Space from a “market perform” rating to an “outperform” rating and raised their price objective for the company from C$15.00 to C$28.00 in a report on Monday, November 4th. Cormark boosted their price target on shares of MDA Space from C$30.00 to C$31.00 in a research report on Monday. Scotiabank raised 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 research note on Friday, November 1st. Ci Capital upped their target price on MDA Space from C$15.00 to C$26.00 in a report on Monday. Finally, Desjardins raised shares of MDA Space to a “moderate buy” rating in a research note on Wednesday, October 30th. Four investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average price target of C$27.83.

Insider Buying and Selling

In other news, Director Michael Philip Greenley sold 175,000 shares of the firm’s 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. 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. Over the last ninety days, insiders have sold 198,920 shares of company stock worth $3,281,370. Company insiders own 12.60% of the company’s stock.

MDA Space Trading Up 0.6 %

The business has a fifty day simple moving average of C$20.25 and a 200 day simple moving average of C$15.76. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 45.79. The company has a market cap of C$3.19 billion, a price-to-earnings 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.