Canaccord Genuity Group Cuts MDA Space (TSE:MDA) Price Target to C$64.00

MDA Space (TSE:MDA) had its target price decreased by Canaccord Genuity Group from C$65.00 to C$64.00 in a report released on Monday morning,BayStreet.CA reports. Canaccord Genuity Group currently has a buy rating on the stock.

A number of other research firms have also recently commented on MDA. Royal Bank Of Canada raised their price target on MDA Space from C$58.00 to C$60.00 and gave the company an “outperform” rating in a report on Monday. ATB Cormark Capital Markets dropped their price objective on MDA Space from C$62.00 to C$51.00 and set a “sector perform” rating for the company in a research note on Friday, July 17th. BMO Capital Markets upped their price objective on MDA Space from C$53.00 to C$68.00 and gave the stock an “outperform” rating in a research note on Monday, June 22nd. Jefferies Financial Group upgraded MDA Space to a “strong-buy” rating in a research report on Wednesday, June 10th. Finally, Desjardins lifted their target price on MDA Space from C$70.00 to C$72.00 and gave the company a “buy” rating in a research note on Wednesday, July 15th. Two research analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and one has given a Hold rating to the stock. According to MarketBeat, MDA Space currently has an average rating of “Buy” and an average target price of C$64.50.

MDA Space Stock Up 4.4%

MDA opened at C$49.71 on Monday. The company has a debt-to-equity ratio of 20.01, a quick ratio of 1.00 and a current ratio of 0.75. MDA Space has a fifty-two week low of C$20.85 and a fifty-two week high of C$67.90. The firm’s fifty day moving average is C$50.17 and its 200 day moving average is C$46.04. The stock has a market cap of C$8.06 billion, a price-to-earnings ratio of 62.92 and a beta of -0.37.

Insider Activity at MDA Space

In other news, insider Luigi Pozzebon sold 31,686 shares of the firm’s stock in a transaction dated Thursday, June 11th. The stock was sold at an average price of C$52.90, for a total transaction of C$1,676,189.40. Also, insider Guillaume Lavoie sold 688 shares of the firm’s stock in a transaction dated Friday, June 12th. The shares were sold at an average price of C$55.62, for a total value of C$38,266.56. Following the transaction, the insider owned 5,569 shares of the company’s stock, valued at approximately C$309,747.78. The trade was a 11.00% decrease in their position. Insiders have sold 119,269 shares of company stock worth $6,318,903 in the last quarter. 12.60% of the stock is owned by company insiders.

About MDA Space

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.