Mercury Systems (NASDAQ:MRCY) was upgraded by Zacks Investment Research from a “hold” rating to a “strong-buy” rating in a report issued on Wednesday, December 27th. The brokerage presently has a $60.00 price target on the technology company’s stock. Zacks Investment Research‘s price target suggests a potential upside of 16.60% from the stock’s previous close.
According to Zacks, “Mercury Systems, Inc. is a commercial provider of secure sensor and mission processing subsystems for defense and intelligence programs. The Company’s products and solutions are deployed in more than 300 programs with over 25 different defense prime contractors. “
MRCY has been the subject of a number of other reports. SunTrust Banks reaffirmed a “buy” rating and set a $51.00 price target on shares of Mercury Systems in a research report on Monday, October 2nd. Noble Financial reaffirmed a “hold” rating on shares of Mercury Systems in a research report on Thursday, October 26th. Robert W. Baird reaffirmed a “buy” rating and set a $48.00 price target on shares of Mercury Systems in a research report on Tuesday, October 24th. Finally, BidaskClub raised shares of Mercury Systems from a “sell” rating to a “hold” rating in a research report on Wednesday, December 20th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company. The company presently has an average rating of “Buy” and an average target price of $53.33.
Shares of Mercury Systems (NASDAQ MRCY) opened at $51.46 on Wednesday. The company has a market capitalization of $2,480.00, a price-to-earnings ratio of 59.84, a PEG ratio of 4.29 and a beta of 0.23. Mercury Systems has a twelve month low of $29.43 and a twelve month high of $55.00.
Mercury Systems (NASDAQ:MRCY) last released its quarterly earnings data on Tuesday, October 24th. The technology company reported $0.37 EPS for the quarter, topping analysts’ consensus estimates of $0.26 by $0.11. Mercury Systems had a return on equity of 6.51% and a net margin of 9.14%. The business had revenue of $106.10 million during the quarter, compared to the consensus estimate of $105.18 million. During the same period in the prior year, the firm posted $0.22 EPS. The business’s revenue for the quarter was up 21.1% on a year-over-year basis. research analysts forecast that Mercury Systems will post 1.12 EPS for the current year.
In other Mercury Systems news, insider Mark Aslett sold 9,600 shares of the company’s stock in a transaction dated Thursday, November 16th. The shares were sold at an average price of $50.11, for a total value of $481,056.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Vincent Vitto sold 8,500 shares of the company’s stock in a transaction dated Monday, December 4th. The shares were sold at an average price of $52.04, for a total transaction of $442,340.00. Following the completion of the transaction, the director now directly owns 79,539 shares of the company’s stock, valued at $4,139,209.56. The disclosure for this sale can be found here. Over the last three months, insiders sold 62,300 shares of company stock valued at $3,171,165. 3.50% of the stock is currently owned by corporate insiders.
Several institutional investors have recently modified their holdings of MRCY. Wells Fargo & Company MN raised its stake in shares of Mercury Systems by 323.5% in the 2nd quarter. Wells Fargo & Company MN now owns 2,230,421 shares of the technology company’s stock valued at $93,878,000 after purchasing an additional 1,703,774 shares in the last quarter. Westfield Capital Management Co. LP acquired a new stake in shares of Mercury Systems in the 3rd quarter valued at about $14,576,000. State Street Corp raised its stake in shares of Mercury Systems by 13.2% in the 2nd quarter. State Street Corp now owns 1,684,565 shares of the technology company’s stock valued at $70,906,000 after purchasing an additional 196,075 shares in the last quarter. Nationwide Fund Advisors raised its stake in shares of Mercury Systems by 189.8% in the 2nd quarter. Nationwide Fund Advisors now owns 280,946 shares of the technology company’s stock valued at $11,825,000 after purchasing an additional 183,994 shares in the last quarter. Finally, Vanguard Group Inc. raised its stake in shares of Mercury Systems by 4.6% in the 2nd quarter. Vanguard Group Inc. now owns 4,118,060 shares of the technology company’s stock valued at $173,329,000 after purchasing an additional 180,028 shares in the last quarter. Institutional investors and hedge funds own 96.28% of the company’s stock.
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Mercury Systems Company Profile
Mercury Systems, Inc is a commercial provider of secure processing subsystems designed and made in the United States. The Company’s solutions support a range of defense and intelligence programs. Its technologies include embedded processing modules and subsystems, radio frequency (RF) and microwave multi-function assemblies, as well as subsystems, and RF and microwave components.
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