Desjardins Upgrades MDA Space (TSE:MDA) to Moderate Buy

MDA Space (TSE:MDA) was upgraded by equities researchers at Desjardins to a “moderate buy” rating in a note issued to investors on Wednesday, Zacks.com reports.

MDA has been the topic of a number of other reports. Cormark increased their price target on MDA Space from C$19.00 to C$21.00 in a report on Friday, August 9th. Canaccord Genuity Group increased their target price on shares of MDA Space from C$18.00 to C$21.00 and gave the stock a “buy” rating in a research note on Thursday, October 3rd. Royal Bank of Canada lifted their price target on shares of MDA Space from C$18.00 to C$20.00 in a research note on Friday, September 20th. Finally, Scotiabank increased their price objective on shares of MDA Space from C$21.00 to C$22.00 and gave the stock an “outperform” rating in a research report on Friday, August 16th. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of C$18.63.

MDA Space Price Performance

Shares of MDA opened at C$21.30 on Wednesday. The business has a 50-day moving average of C$18.11 and a 200-day moving average of C$14.94. The company has a debt-to-equity ratio of 45.79, a current ratio of 1.00 and a quick ratio of 1.00. The company has a market capitalization of C$2.56 billion, a price-to-earnings ratio of 56.05 and a beta of 0.02. MDA Space has a 1 year low of C$10.65 and a 1 year high of C$21.86.

MDA Space (TSE:MDA) last released its quarterly earnings results on Thursday, August 8th. The company reported C$0.19 earnings per share (EPS) for the quarter, topping the consensus estimate of C$0.10 by C$0.09. MDA Space had a net margin of 5.53% and a return on equity of 4.47%. The firm had revenue of C$242.00 million during the quarter, compared to analyst estimates of C$221.34 million. As a group, equities research analysts anticipate that MDA Space will post 0.9605084 earnings per share for the current year.

Insider Activity at MDA Space

In related news, Director Karl W. Smith purchased 3,244 shares of the stock in a transaction that occurred on Wednesday, August 14th. The stock was acquired at an average cost of C$14.83 per share, with a total value of C$48,120.20. In other news, Director Karl W. Smith acquired 3,244 shares of the firm’s stock in a transaction on Wednesday, August 14th. The stock was purchased at an average price of C$14.83 per share, for a total transaction of C$48,120.20. Also, Director John Carter Risley sold 22,500 shares of MDA Space 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 transaction of C$347,017.50. Insiders have sold a total of 199,220 shares of company stock valued at $3,285,909 over the last 90 days. Insiders own 12.60% of the company’s stock.

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.