Mercury Systems (MRCY) Downgraded to “Hold” at Zacks Investment Research

Zacks Investment Research lowered shares of Mercury Systems (NASDAQ:MRCY) from a strong-buy rating to a hold rating in a research note released on Saturday.

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. “

Other research analysts also recently issued reports about the stock. Noble Financial restated a hold rating on shares of Mercury Systems in a research report on Thursday, October 26th. BidaskClub downgraded shares of Mercury Systems from a hold rating to a sell rating in a research report on Wednesday, December 27th. SunTrust Banks restated a buy rating on shares of Mercury Systems in a research report on Friday, October 20th. Finally, Robert W. Baird boosted their price objective on shares of Mercury Systems from $48.00 to $59.00 and gave the company an outperform rating in a research report on Wednesday, October 25th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and five have issued a buy rating to the company’s stock. The stock currently has an average rating of Hold and an average target price of $53.33.

Shares of Mercury Systems (MRCY) traded down $0.71 during mid-day trading on Friday, hitting $50.55. The company had a trading volume of 372,634 shares, compared to its average volume of 199,601. The company has a market capitalization of $2,438.58, a PE ratio of 54.35, a P/E/G ratio of 4.37 and a beta of 0.23. Mercury Systems has a fifty-two week low of $30.80 and a fifty-two week high of $55.00.

Mercury Systems (NASDAQ:MRCY) last issued its quarterly earnings results on Tuesday, October 24th. The technology company reported $0.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.26 by $0.11. The business had revenue of $106.10 million during the quarter, compared to analysts’ expectations of $105.18 million. Mercury Systems had a return on equity of 6.51% and a net margin of 9.14%. The firm’s revenue for the quarter was up 21.1% compared to the same quarter last year. During the same period in the previous year, the company posted $0.22 earnings per share. research analysts expect that Mercury Systems will post 1.09 EPS for the current year.

In other Mercury Systems news, CEO Mark Aslett sold 4,800 shares of the business’s stock in a transaction that occurred on Monday, October 30th. The shares were sold at an average price of $49.92, for a total transaction of $239,616.00. Following the completion of the transaction, the chief executive officer now directly owns 509,782 shares in the company, valued at $25,448,317.44. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, COO Didier M. C. Thibaud sold 3,500 shares of the business’s stock in a transaction that occurred on Wednesday, November 15th. The shares were sold at an average price of $49.52, for a total transaction of $173,320.00. Following the transaction, the chief operating officer now owns 379,940 shares of the company’s stock, valued at $18,814,628.80. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 65,800 shares of company stock valued at $3,351,345. Company insiders own 3.50% of the company’s stock.

Several large investors have recently made changes to their positions in MRCY. Schwab Charles Investment Management Inc. increased its holdings in shares of Mercury Systems by 1.0% during the second quarter. Schwab Charles Investment Management Inc. now owns 196,718 shares of the technology company’s stock worth $8,280,000 after buying an additional 1,927 shares in the last quarter. Swiss National Bank increased its holdings in shares of Mercury Systems by 3.0% during the second quarter. Swiss National Bank now owns 79,800 shares of the technology company’s stock worth $3,359,000 after buying an additional 2,300 shares in the last quarter. Riverhead Capital Management LLC increased its holdings in shares of Mercury Systems by 74.9% during the second quarter. Riverhead Capital Management LLC now owns 4,897 shares of the technology company’s stock worth $206,000 after buying an additional 2,097 shares in the last quarter. Teachers Advisors LLC increased its holdings in shares of Mercury Systems by 5.8% during the second quarter. Teachers Advisors LLC now owns 85,538 shares of the technology company’s stock worth $3,600,000 after buying an additional 4,654 shares in the last quarter. Finally, Nationwide Fund Advisors increased its holdings in shares of Mercury Systems by 189.8% during the second quarter. Nationwide Fund Advisors now owns 280,946 shares of the technology company’s stock worth $11,825,000 after buying an additional 183,994 shares in the last quarter. Institutional investors own 96.28% of the company’s stock.

COPYRIGHT VIOLATION NOTICE: “Mercury Systems (MRCY) Downgraded to “Hold” at Zacks Investment Research” was originally published by Dispatch Tribunal and is the sole property of of Dispatch Tribunal. If you are accessing this story on another website, it was illegally copied and republished in violation of United States & international trademark & copyright legislation. The correct version of this story can be accessed at https://www.dispatchtribunal.com/2018/01/21/mercury-systems-mrcy-downgraded-to-hold-at-zacks-investment-research.html.

About Mercury Systems

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.

Analyst Recommendations for Mercury Systems (NASDAQ:MRCY)

Receive News & Ratings for Mercury Systems Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Mercury Systems and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply