Scotiabank Forecasts Strong Price Appreciation for MDA Space (TSE:MDA) Stock

MDA Space (TSE:MDA) had its price target increased by stock analysts at Scotiabank from C$28.50 to C$34.00 in a report issued on Monday,BayStreet.CA reports. Scotiabank’s price target would indicate a potential upside of 23.77% from the stock’s previous close.

MDA has been the subject of a number of other reports. Canaccord Genuity Group raised their target price on MDA Space from C$30.00 to C$34.00 in a research note on Friday, December 13th. Ci Capital raised their target price on MDA Space from C$15.00 to C$26.00 in a report on Monday, November 18th. Cormark raised their target price on MDA Space from C$31.00 to C$38.00 in a report on Wednesday, December 11th. Citigroup raised their target price on MDA Space from C$26.00 to C$30.00 in a report on Thursday, January 30th. Finally, Royal Bank of Canada raised their target price on MDA Space from C$28.00 to C$30.00 in a report on Wednesday, November 20th. Four investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the company has a consensus rating of “Buy” and a consensus target price of C$31.43.

MDA Space Stock Performance

MDA stock traded up C$0.64 during midday trading on Monday, hitting C$27.47. The stock had a trading volume of 579,708 shares, compared to its average volume of 531,263. The company has a current ratio of 0.83, a quick ratio of 1.00 and a debt-to-equity ratio of 34.94. The stock has a 50-day simple moving average of C$25.68 and a 200 day simple moving average of C$23.22. MDA Space has a 52 week low of C$11.44 and a 52 week high of C$30.00. The firm has a market capitalization of C$3.35 billion, a price-to-earnings ratio of 48.82 and a beta of 0.02.

Insiders Place Their Bets

In related news, Director Michael Philip Greenley sold 9,700 shares of the business’s stock in a transaction that occurred on Thursday, December 12th. The stock was sold at an average price of C$28.60, for a total transaction of C$277,420.00. Also, Director John Carter Risley sold 61,000 shares of the business’s stock in a transaction that occurred on Thursday, December 19th. The stock was sold at an average price of C$28.06, for a total value of C$1,711,660.00. Insiders have sold 361,300 shares of company stock valued at $10,285,710 in the last 90 days. 12.60% of the stock is currently owned by insiders.

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.