Mercury Systems (NASDAQ:MRCY) Cut 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 report released on Saturday, January 20th.

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. “

A number of other research analysts have also weighed in on MRCY. SunTrust Banks reaffirmed a buy rating and issued a $51.00 price objective on shares of Mercury Systems in a research note on Monday, October 2nd. BidaskClub raised shares of Mercury Systems from a sell rating to a hold rating in a research note on Wednesday, December 20th. Robert W. Baird reissued a buy rating and set a $48.00 price target on shares of Mercury Systems in a research report on Tuesday, October 24th. Finally, Noble Financial reissued a hold rating on shares of Mercury Systems in a research report on Thursday, October 26th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and five have issued a buy rating to the company’s stock. Mercury Systems presently has an average rating of Hold and a consensus target price of $54.71.

Mercury Systems (NASDAQ:MRCY) opened at $44.34 on Friday. The stock has a market cap of $2,110.00, a price-to-earnings ratio of 48.20, a P/E/G ratio of 3.61 and a beta of 0.33. Mercury Systems has a 12 month low of $35.60 and a 12 month high of $55.00.

Mercury Systems (NASDAQ:MRCY) last issued its earnings results on Tuesday, January 23rd. The technology company reported $0.28 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.30 by ($0.02). The company had revenue of $117.90 million for the quarter, compared to the consensus estimate of $114.89 million. Mercury Systems had a return on equity of 6.32% and a net margin of 9.61%. The firm’s revenue was up 20.3% compared to the same quarter last year. During the same period in the prior year, the company earned $0.30 earnings per share. equities analysts anticipate that Mercury Systems will post 1.09 EPS for the current fiscal year.

In other news, insider Mark Aslett sold 9,600 shares of Mercury Systems 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 filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Didier M. C. Thibaud sold 3,500 shares of Mercury Systems stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $48.00, for a total transaction of $168,000.00. Following the completion of the transaction, the chief operating officer now owns 362,440 shares of the company’s stock, valued at approximately $17,397,120. The disclosure for this sale can be found here. Insiders have sold 70,600 shares of company stock valued at $3,558,499 in the last 90 days. 3.50% of the stock is currently owned by corporate insiders.

A number of large investors have recently modified their holdings of the stock. Ameritas Investment Partners Inc. grew its stake in Mercury Systems by 5.0% during the second quarter. Ameritas Investment Partners Inc. now owns 4,114 shares of the technology company’s stock valued at $173,000 after acquiring an additional 195 shares in the last quarter. Amalgamated Bank grew its stake in Mercury Systems by 5.4% during the second quarter. Amalgamated Bank now owns 6,290 shares of the technology company’s stock valued at $265,000 after acquiring an additional 321 shares in the last quarter. California Public Employees Retirement System grew its stake in Mercury Systems by 1.7% during the second quarter. California Public Employees Retirement System now owns 46,900 shares of the technology company’s stock valued at $1,974,000 after acquiring an additional 800 shares in the last quarter. Profund Advisors LLC grew its stake in Mercury Systems by 13.5% during the second quarter. Profund Advisors LLC now owns 9,243 shares of the technology company’s stock valued at $389,000 after acquiring an additional 1,100 shares in the last quarter. Finally, Virtus Fund Advisers LLC grew its stake in Mercury Systems by 12.5% during the fourth quarter. Virtus Fund Advisers LLC now owns 10,626 shares of the technology company’s stock valued at $546,000 after acquiring an additional 1,178 shares in the last quarter. 94.44% of the stock is owned by institutional investors.

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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.

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