Maxar Technologies (MAXR) Stock Rating Upgraded by Zacks Investment Research

Maxar Technologies (NYSE:MAXR) was upgraded by Zacks Investment Research from a “strong sell” rating to a “hold” rating in a research note issued to investors on Wednesday, Zacks.com reports.

According to Zacks, “Maxar Technologies Inc. provides space technology solutions. The company engages in developing and sustaining the infrastructure and delivering the information, services, systems of space for commercial and government markets. It offers vertically integrated capabilities and expertise including satellites, Earth imagery, robotics, geospatial data and analytics. The company’s portfolio of commercial space brands includes MDA, SSL, DigitalGlobe and Radiant Solutions. Maxar Technologies Inc. is based in Westminster, United States. “

MAXR has been the subject of several other research reports. Raymond James decreased their price target on Maxar Technologies from $25.00 to $20.00 and set an “outperform” rating for the company in a research note on Friday, March 1st. Credit Suisse Group cut Maxar Technologies from a “neutral” rating to an “underperform” rating and decreased their price target for the stock from $17.00 to $5.88 in a research note on Tuesday, January 8th. TD Securities decreased their price target on Maxar Technologies from $34.00 to $24.00 and set a “speculative buy” rating for the company in a research note on Tuesday, January 8th. Canaccord Genuity lowered Maxar Technologies from a “speculative buy” rating to a “hold” rating and cut their price objective for the stock from $30.00 to $10.00 in a report on Tuesday, January 8th. Finally, ValuEngine lowered Maxar Technologies from a “hold” rating to a “sell” rating in a report on Tuesday, April 9th. Three equities research analysts have rated the stock with a sell rating, six have given a hold rating and two have given a buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $21.54.

NYSE:MAXR traded down $0.50 during trading hours on Wednesday, reaching $6.21. 37,906 shares of the company traded hands, compared to its average volume of 1,488,512. The stock has a market capitalization of $385.48 million, a price-to-earnings ratio of -2.14 and a beta of 1.47. Maxar Technologies has a 1 year low of $3.83 and a 1 year high of $55.28. The company has a current ratio of 0.75, a quick ratio of 0.71 and a debt-to-equity ratio of 4.70.

Maxar Technologies (NYSE:MAXR) last announced its quarterly earnings data on Thursday, February 28th. The company reported ($1.38) earnings per share (EPS) for the quarter. Maxar Technologies had a negative net margin of 64.00% and a positive return on equity of 8.11%. The company had revenue of $496.00 million for the quarter, compared to analysts’ expectations of $520.00 million. As a group, equities research analysts predict that Maxar Technologies will post -2.37 EPS for the current year.

In related news, Director Nick Cyprus purchased 5,000 shares of the business’s stock in a transaction on Wednesday, March 6th. The stock was acquired at an average price of $5.03 per share, with a total value of $25,150.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Walter S. Scott purchased 20,300 shares of the business’s stock in a transaction on Wednesday, March 6th. The shares were bought at an average cost of $5.06 per share, with a total value of $102,718.00. The disclosure for this purchase can be found here. Insiders purchased 56,015 shares of company stock valued at $286,907 in the last ninety days. 0.59% of the stock is currently owned by corporate insiders.

A number of large investors have recently added to or reduced their stakes in MAXR. PenderFund Capital Management Ltd. bought a new stake in Maxar Technologies during the first quarter valued at about $9,423,000. Mirae Asset Global Investments Co. Ltd. bought a new position in shares of Maxar Technologies in the fourth quarter worth about $13,602,000. Douglas Lane & Associates LLC boosted its stake in shares of Maxar Technologies by 46.7% in the fourth quarter. Douglas Lane & Associates LLC now owns 2,817,211 shares of the company’s stock worth $33,694,000 after acquiring an additional 897,197 shares during the period. Norges Bank bought a new position in shares of Maxar Technologies in the fourth quarter worth about $5,915,000. Finally, Vanguard Group Inc boosted its stake in shares of Maxar Technologies by 5.1% in the third quarter. Vanguard Group Inc now owns 5,544,566 shares of the company’s stock worth $183,359,000 after acquiring an additional 269,041 shares during the period. 72.39% of the stock is owned by institutional investors and hedge funds.

Maxar Technologies Company Profile

Maxar Technologies Inc, a space and geospatial intelligence company, provides space technology solutions for commercial and government customers worldwide. The company operates through three segments: Space Systems, Imagery, and Services. The Space Systems segment supplies space and ground based infrastructure and information solutions, including communication and imaging satellites, satellite payloads and antenna subsystems, space-based and airborne surveillance solutions, and robotic systems and associated ground infrastructure and support services for communications and surveillance and intelligence applications.

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