MDA Space Ltd. (TSE:MDA) Receives Consensus Recommendation of “Buy” from Analysts

MDA Space Ltd. (TSE:MDA) has been assigned a consensus recommendation of “Buy” from the seven ratings firms that are currently covering the stock, MarketBeat.com reports. Six equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. The average 1 year price objective among analysts that have issued a report on the stock in the last year is C$38.70.

Several brokerages have recently commented on MDA. BMO Capital Markets reduced their price objective on shares of MDA Space from C$40.00 to C$36.00 in a research report on Friday, October 31st. Royal Bank Of Canada cut their price objective on shares of MDA Space from C$53.00 to C$45.00 and set an “outperform” rating on the stock in a research report on Tuesday, September 9th. Scotiabank decreased their target price on MDA Space from C$43.00 to C$40.00 and set an “outperform” rating for the company in a research report on Friday, October 31st. Canaccord Genuity Group dropped their price target on MDA Space from C$54.00 to C$47.00 in a research note on Tuesday, September 9th. Finally, Stifel Canada raised MDA Space to a “strong-buy” rating in a research note on Tuesday, October 7th.

MDA Space Trading Down 1.7%

TSE MDA opened at C$22.60 on Wednesday. The stock has a market capitalization of C$2.82 billion, a P/E ratio of 25.11 and a beta of -0.86. The business has a 50 day simple moving average of C$33.24 and a 200 day simple moving average of C$34.46. The company has a debt-to-equity ratio of 34.94, a current ratio of 0.83 and a quick ratio of 1.00. MDA Space has a one year low of C$19.96 and a one year high of C$48.31.

Insiders Place Their Bets

In other MDA Space news, insider Guillaume Lavoie acquired 1,220 shares of MDA Space stock in a transaction dated Tuesday, September 9th. The stock was purchased at an average cost of C$33.91 per share, for a total transaction of C$41,370.20. Following the completion of the acquisition, the insider directly owned 4,562 shares of the company’s stock, valued at C$154,697.42. This represents a 36.51% increase in their ownership of the stock. Also, insider Holly Lynn Johnson sold 40,620 shares of the company’s stock in a transaction dated Tuesday, August 19th. The stock was sold at an average price of C$45.80, for a total transaction of C$1,860,396.00. Following the completion of the sale, the insider owned 34,810 shares in the company, valued at C$1,594,298. This represents a 53.85% decrease in their position. Insiders have sold a total of 1,334,150 shares of company stock worth $59,797,443 in the last quarter. Insiders own 12.60% of the company’s stock.

About MDA Space

MDA Space Ltd, formerly MDA Ltd, is a global space company. The Company is a robotics, satellite systems and Geo intelligence provider. It provides communications satellites and earth and space observation. It is also involved in space exploration and infrastructure. Its software, AURORA, is a digital satellite product line providing critical new solutions to operators.