MDA Space (NYSE:MDA) Stock Price Target Cut by JPMorgan Chase & Co.

MDA Space (NYSE:MDA) had its price objective lowered by investment analysts at JPMorgan Chase & Co. from $50.00 to $44.00 in a research note issued on Tuesday, Benzinga reports. The brokerage currently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price objective suggests a potential upside of 43.79% from the stock’s previous close.

Several other research firms have also commented on MDA. National Bank Financial started coverage on MDA Space in a research report on Monday, September 14th. They issued an “outperform” rating on the stock. Weiss Ratings downgraded MDA Space from a “hold (c+)” rating to a “hold (c)” rating in a research report on Tuesday, August 18th. Royal Bank Of Canada reiterated an “outperform” rating and issued a $60.00 target price on shares of MDA Space in a research note on Monday, August 17th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and set a $41.00 target price on shares of MDA Space in a report on Monday, August 10th. Finally, Jefferies Financial Group reiterated a “buy” rating on shares of MDA Space in a report on Tuesday, October 13th. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $48.50.

MDA Space Trading Down 0.5%

NYSE:MDA traded down $0.14 on Tuesday, hitting $30.60. 315,948 shares of the stock were exchanged, compared to its average volume of 1,323,871. The stock has a market cap of $4.96 billion and a PE ratio of 56.67. The company has a current ratio of 0.75, a quick ratio of 0.72 and a debt-to-equity ratio of 0.19. The stock has a fifty day moving average of $28.95 and a 200-day moving average of $33.21. MDA Space has a fifty-two week low of $23.23 and a fifty-two week high of $49.37.

MDA Space (NYSE:MDA) last posted its earnings results on Thursday, November 5th. The company reported $0.26 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.20 by $0.06. MDA Space had a net margin of 5.68% and a return on equity of 9.42%. As a group, equities analysts expect that MDA Space will post 0.96 earnings per share for the current fiscal year.

Institutional Investors Weigh In On MDA Space

Hedge funds and other institutional investors have recently bought and sold shares of the business. Voya Investment Management LLC bought a new position in MDA Space during the 3rd quarter valued at $42,089,000. Public Sector Pension Investment Board bought a new position in shares of MDA Space during the third quarter worth about $285,000. Alberta Investment Management Corp acquired a new position in MDA Space in the third quarter worth about $38,318,000. Montanaro Asset Management Ltd acquired a new position in MDA Space in the third quarter worth about $3,892,000. Finally, Periscope Capital Inc. bought a new stake in MDA Space in the third quarter valued at about $296,000.

MDA Space Company Profile

MDA Space is a Canadian space technology company that develops and provides systems and services for government, commercial and defense customers. Its work spans satellite communications, Earth observation and space robotics, supporting missions and operations on Earth and in orbit. The company designs and builds satellites and related systems, provides geospatial data and analytics, and develops robotic technologies for space. Its robotics work includes contributions to the Canadarm2 and Dextre systems on the International Space Station, as well as work on Canadarm3, planned for the Lunar Gateway.