MDA Space (NYSE:MDA) Price Target Raised to $60.00

MDA Space (NYSE:MDA) had its price target lifted by Royal Bank Of Canada from $58.00 to $60.00 in a research report sent to investors on Monday,Benzinga reports. Royal Bank Of Canada currently has an outperform rating on the stock.

A number of other brokerages also recently commented on MDA. Zacks Research upgraded shares of MDA Space from a “strong sell” rating to a “hold” rating in a research note on Thursday, June 11th. Weiss Ratings upgraded MDA Space from a “hold (c)” rating to a “hold (c+)” rating in a report on Tuesday, August 4th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and issued a $41.00 price objective on shares of MDA Space in a report on Monday. Jefferies Financial Group raised MDA Space to a “strong-buy” rating in a report on Wednesday, June 10th. Finally, Canaccord Genuity Group raised MDA Space to a “strong-buy” rating in a research note on Wednesday, April 22nd. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat, MDA Space currently has an average rating of “Moderate Buy” and a consensus price target of $48.25.

MDA Space Trading Up 4.3%

Shares of MDA opened at $35.66 on Monday. The company has a current ratio of 0.80, a quick ratio of 0.77 and a debt-to-equity ratio of 0.20. MDA Space has a 12 month low of $23.23 and a 12 month high of $49.37. The stock has a market cap of $5.78 billion and a P/E ratio of 66.04. The company’s fifty day simple moving average is $35.58.

MDA Space (NYSE:MDA) last posted its quarterly earnings results on Friday, August 7th. The company reported $0.26 EPS for the quarter, beating analysts’ consensus estimates of $0.24 by $0.02. MDA Space had a return on equity of 10.01% and a net margin of 5.68%.The business had revenue of $360.18 million for the quarter, compared to analysts’ expectations of $321.87 million. As a group, research analysts forecast that MDA Space will post 0.98 EPS for the current year.

Institutional Trading of MDA Space

Several hedge funds have recently modified their holdings of the business. Tacita Capital Inc grew its holdings in MDA Space by 16,480.0% during the second quarter. Tacita Capital Inc now owns 2,487 shares of the company’s stock worth $103,000 after acquiring an additional 2,472 shares during the period. Citizens Financial Group Inc. RI acquired a new position in shares of MDA Space during the 2nd quarter worth $388,000. Quantbot Technologies LP acquired a new stake in shares of MDA Space in the second quarter valued at about $593,000. SCS Capital Management LLC acquired a new stake in shares of MDA Space in the second quarter valued at about $1,003,000. Finally, Deutsche Bank AG boosted its holdings in MDA Space by 85.9% during the second quarter. Deutsche Bank AG now owns 54,516 shares of the company’s stock worth $2,250,000 after buying an additional 25,197 shares in the last quarter.

About MDA Space

MDA Space Ltd is a developer and manufacturer of technology and services to the space industry. It is an international space mission partner and robotics, satellite systems, and geo-intelligence pioneer. It is engaged in communications satellites, Earth and space observation, space exploration, and infrastructure. The Company collaborates and partners with governments and space agencies, commercial space companies, and defence and aerospace prime contractors in the space industry. Geographically, it generates the majority of its revenue from Canada.