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

MDA Space (TSE:MDA) had its price objective raised by analysts at Cormark from C$30.00 to C$31.00 in a note issued to investors on Monday,BayStreet.CA reports. Cormark’s price objective points to a potential upside of 23.06% from the company’s current price.

Other equities research analysts have also recently issued research reports about the company. Scotiabank upped their target price on MDA Space from C$22.00 to C$25.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. Ci Capital upped their target price on MDA Space from C$15.00 to C$26.00 in a research report on Monday. Desjardins raised MDA Space to a “moderate buy” rating in a research report on Wednesday, October 30th. Canaccord Genuity Group upped their target price on MDA Space from C$21.00 to C$27.00 in a research report on Monday, November 4th. Finally, BMO Capital Markets raised MDA Space from a “market perform” rating to an “outperform” rating and upped their target price for the stock from C$15.00 to C$28.00 in a research report on Monday, November 4th. Four investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus price target of C$26.17.

MDA Space Stock Performance

MDA Space stock traded up C$0.22 during trading hours on Monday, reaching C$25.19. 269,231 shares of the company were exchanged, compared to its average volume of 257,525. The firm has a market cap of C$3.02 billion, a price-to-earnings ratio of 66.29 and a beta of 0.02. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 45.79. The stock has a 50-day moving average of C$20.03 and a 200 day moving average of C$15.69. MDA Space has a 12 month low of C$10.65 and a 12 month high of C$27.05.

Insider Buying and Selling

In related news, Director John Carter Risley sold 22,500 shares of the firm’s stock in a transaction 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 firm’s stock in a transaction on Sunday, September 22nd. The stock was sold at an average price of C$16.64, for a total value of C$2,911,632.50. Insiders sold a total of 198,920 shares of company stock valued at $3,281,370 over the last ninety days. 12.60% of the stock is owned by company insiders.

About MDA Space

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.