MDA Space (TSE:MDA) Sets New 12-Month High After Analyst Upgrade

MDA Space Ltd. (TSE:MDA - Get Free Report) shares reached a new 52-week high during mid-day trading on Thursday after Royal Bank of Canada raised their price target on the stock from C$28.00 to C$30.00. The company traded as high as C$27.47 and last traded at C$26.54, with a volume of 521626 shares trading hands. The stock had previously closed at C$26.37.

A number of other brokerages also recently weighed in on MDA. Desjardins raised MDA Space to a "moderate buy" rating in a research note on Wednesday, October 30th. Scotiabank lifted their price target on shares of MDA Space from C$22.00 to C$25.00 and gave the company an "outperform" rating in a research report on Friday, November 1st. BMO Capital Markets raised shares of MDA Space from a "market perform" rating to an "outperform" rating and upped their price objective for the stock from C$15.00 to C$28.00 in a report on Monday, November 4th. Canaccord Genuity Group raised their target price on shares of MDA Space from C$21.00 to C$27.00 in a research note on Monday, November 4th. Finally, Ci Capital boosted their target price on shares of MDA Space from C$15.00 to C$26.00 in a research report on Monday. Four analysts have rated the stock with a buy rating, According to data from MarketBeat.com, MDA Space presently has a consensus rating of "Buy" and an average price target of C$27.83.

Insider Transactions at MDA Space

In other MDA Space news, Director John Carter Risley sold 22,500 shares of the firm's stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of C$15.42, for a total value of C$347,017.50. Also, Director Michael Philip Greenley sold 175,000 shares of the company's stock in a transaction on Sunday, September 22nd. The shares were sold at an average price of C$16.64, for a total value of C$2,911,632.50. Over the last quarter, insiders have sold 198,920 shares of company stock worth $3,281,370. Insiders own 12.60% of the company's stock.

MDA Space Stock Up 0.6 %

The firm has a market cap of C$3.19 billion, a price-to-earnings ratio of 69.84 and a beta of 0.02. The company has a debt-to-equity ratio of 45.79, a quick ratio of 1.00 and a current ratio of 1.00. The business's 50-day moving average is C$20.25 and its 200-day moving average is C$15.76.

MDA Space Company Profile

MDA Ltd. designs, manufactures, and services space robotics, satellite systems and components, and intelligence systems in Canada, the United States, Europe, Asia, the Middle East, and internationally. The company offers geointelligence solutions that use satellite-generated imagery and analytic services to deliver critical and value-added insights in the areas of national security, climate change monitoring, and maritime surveillance; owns and operates commercial data distribution for its satellite RADARSAT-2; and distributes high resolution optical imagery, satellite-based automatic identification system data, and radio-frequency data for other third-party missions.