MDA Space (TSE:MDA) Reaches New 52-Week High – Still a Buy?

Shares of MDA Space Ltd. (TSE:MDA) hit a new 52-week high on Wednesday . The company traded as high as C$28.54 and last traded at C$28.39, with a volume of 192326 shares. The stock had previously closed at C$27.69.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on MDA shares. Desjardins upgraded shares of MDA Space to a “moderate buy” rating in a report on Wednesday, October 30th. Ci Capital raised their price target on shares of MDA Space from C$15.00 to C$26.00 in a report on Monday, November 18th. BMO Capital Markets upgraded shares of MDA Space from a “market perform” rating to an “outperform” rating and lifted their price objective for the stock from C$15.00 to C$28.00 in a research note on Monday, November 4th. Cormark upped their target price on MDA Space from C$30.00 to C$31.00 in a research report on Monday, November 18th. Finally, Scotiabank lifted their price target 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. Four research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, MDA Space presently has an average rating of “Buy” and a consensus price target of C$27.83.

MDA Space Price Performance

The firm has a market capitalization of C$3.39 billion, a PE ratio of 74.29 and a beta of 0.02. The firm’s fifty day moving average price is C$22.88 and its 200 day moving average price is C$16.83. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 45.79.

Insider Activity at MDA Space

In other news, Director Yung Cheng Wu bought 3,800 shares of the firm’s stock in a transaction that occurred on Friday, November 22nd. The stock was purchased at an average cost of C$28.49 per share, for a total transaction of C$108,262.00. Also, Director Michael Philip Greenley sold 175,000 shares of the stock in a transaction on Sunday, September 22nd. The stock was sold at an average price of C$16.64, for a total transaction of C$2,911,632.50. 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.