MDA Space (TSE:MDA) Price Target Lowered to C$59.00 at Canadian Imperial Bank of Commerce

MDA Space (TSE:MDA) had its price objective lowered by Canadian Imperial Bank of Commerce from C$67.00 to C$59.00 in a research report issued to clients and investors on Wednesday,BayStreet.CA reports. Canadian Imperial Bank of Commerce’s price target would suggest a potential upside of 26.83% from the stock’s current price.

MDA has been the subject of a number of other reports. Morgan Stanley lifted their target price on shares of MDA Space from C$51.00 to C$58.00 in a research note on Friday, May 8th. BMO Capital Markets increased their price objective on shares of MDA Space from C$53.00 to C$68.00 and gave the company an “outperform” rating in a research note on Monday, June 22nd. Jefferies Financial Group raised MDA Space to a “strong-buy” rating in a report on Wednesday, June 10th. Desjardins boosted their target price on MDA Space from C$66.00 to C$70.00 and gave the stock a “buy” rating in a report on Monday, June 22nd. Finally, Scotia boosted their price objective on MDA Space from C$53.00 to C$70.00 and gave the stock a “sector outperform” rating in a research note on Thursday, May 28th. Two analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, MDA Space has a consensus rating of “Buy” and an average price target of C$63.80.

MDA Space Price Performance

TSE:MDA traded down C$1.14 during trading hours on Wednesday, reaching C$46.52. 814,696 shares of the company’s stock were exchanged, compared to its average volume of 1,195,452. The company has a quick ratio of 1.00, a current ratio of 0.80 and a debt-to-equity ratio of 20.62. MDA Space has a 12 month low of C$20.85 and a 12 month high of C$67.90. The company has a market capitalization of C$6.46 billion, a P/E ratio of 58.63 and a beta of -0.34. The business’s 50-day simple moving average is C$54.67 and its two-hundred day simple moving average is C$43.92.

MDA Space (TSE:MDA) last posted its quarterly earnings data on Thursday, May 7th. The company reported C$0.38 earnings per share (EPS) for the quarter. The firm had revenue of C$464.10 million for the quarter. MDA Space had a return on equity of 7.24% and a net margin of 6.02%. Sell-side analysts expect that MDA Space will post 0.9605084 EPS for the current fiscal year.

Insider Buying and Selling

In other news, insider Luigi Pozzebon sold 31,686 shares of MDA Space stock in a transaction dated Thursday, June 11th. The stock was sold at an average price of C$52.90, for a total value of C$1,676,189.40. Also, insider Holly Lynn Johnson sold 45,000 shares of MDA Space stock in a transaction that occurred on Wednesday, June 10th. The stock was sold at an average price of C$52.79, for a total transaction of C$2,375,550.00. Following the completion of the transaction, the insider owned 60,331 shares of the company’s stock, valued at C$3,184,873.49. This represents a 42.72% decrease in their position. Insiders sold 119,269 shares of company stock worth $6,318,903 over the last 90 days. 12.60% of the stock is currently owned by company insiders.

MDA Space Company Profile

Building the space between proven and possible, MDA Space (TSX:MDA; NYSE:MDA) is a trusted mission partner to the global defence and space industry. A robotics, satellite systems and geointelligence pioneer with a 55-year+ story of world firsts and more than 450 missions, MDA Space is a global leader in communications satellites, Earth and space observation, and space exploration and infrastructure. The global MDA Space team of more than 4,000 space experts has the knowledge and know-how to turn an audacious customer vision into an achievable mission – bringing to bear a one-of-a-kind mix of experience, engineering excellence and wide-eyed wonder that’s been in our DNA since day one.