Drexel Hamilton set a $58.00 price target on Mercury Systems (NASDAQ:MRCY) in a research report sent to investors on Wednesday morning. The firm currently has a buy rating on the technology company’s stock.
MRCY has been the topic of a number of other reports. BidaskClub downgraded shares of Mercury Systems from a strong-buy rating to a buy rating in a research note on Tuesday, October 16th. ValuEngine raised shares of Mercury Systems from a sell rating to a hold rating in a research note on Thursday, August 2nd. Canaccord Genuity assumed coverage on shares of Mercury Systems in a research note on Thursday, October 4th. They issued a buy rating and a $64.00 price target on the stock. Finally, Zacks Investment Research downgraded shares of Mercury Systems from a hold rating to a sell rating in a research note on Tuesday, July 24th. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and five have given a buy rating to the stock. Mercury Systems has an average rating of Hold and an average price target of $53.00.
MRCY opened at $47.99 on Wednesday. Mercury Systems has a 12-month low of $30.11 and a 12-month high of $57.26. The company has a quick ratio of 3.11, a current ratio of 4.40 and a debt-to-equity ratio of 0.31. The firm has a market capitalization of $2.32 billion, a PE ratio of 42.47, a price-to-earnings-growth ratio of 3.28 and a beta of 0.85.
Mercury Systems (NASDAQ:MRCY) last posted its quarterly earnings results on Tuesday, October 30th. The technology company reported $0.39 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.35 by $0.04. Mercury Systems had a net margin of 5.72% and a return on equity of 6.97%. The business had revenue of $144.10 million for the quarter, compared to the consensus estimate of $139.12 million. During the same period in the prior year, the business posted $0.37 earnings per share. Mercury Systems’s revenue for the quarter was up 35.8% compared to the same quarter last year. Sell-side analysts anticipate that Mercury Systems will post 1.41 EPS for the current fiscal year.
In other Mercury Systems news, COO Didier M. C. Thibaud sold 3,500 shares of the stock in a transaction on Tuesday, September 4th. The shares were sold at an average price of $54.23, for a total transaction of $189,805.00. Following the transaction, the chief operating officer now directly owns 318,525 shares of the company’s stock, valued at $17,273,610.75. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Mark Aslett sold 10,000 shares of the stock in a transaction on Wednesday, October 31st. The stock was sold at an average price of $45.81, for a total transaction of $458,100.00. Following the transaction, the insider now directly owns 407,440 shares in the company, valued at $18,664,826.40. The disclosure for this sale can be found here. Insiders sold 55,200 shares of company stock worth $2,920,742 over the last ninety days. 2.80% of the stock is currently owned by company insiders.
Institutional investors have recently bought and sold shares of the business. BlackRock Inc. increased its position in Mercury Systems by 8.9% during the second quarter. BlackRock Inc. now owns 8,274,536 shares of the technology company’s stock worth $314,928,000 after buying an additional 672,821 shares during the last quarter. Sterling Capital Management LLC increased its position in Mercury Systems by 73.4% during the second quarter. Sterling Capital Management LLC now owns 99,820 shares of the technology company’s stock worth $3,799,000 after buying an additional 42,262 shares during the last quarter. Rhumbline Advisers increased its position in Mercury Systems by 3.2% during the second quarter. Rhumbline Advisers now owns 115,660 shares of the technology company’s stock worth $4,402,000 after buying an additional 3,625 shares during the last quarter. Public Employees Retirement System of Ohio acquired a new position in Mercury Systems during the second quarter worth $1,708,000. Finally, Congress Asset Management Co. MA increased its position in Mercury Systems by 21.6% during the second quarter. Congress Asset Management Co. MA now owns 69,017 shares of the technology company’s stock worth $2,627,000 after buying an additional 12,263 shares during the last quarter. 96.81% of the stock is currently owned by hedge funds and other institutional investors.
Mercury Systems Company Profile
Mercury Systems, Inc provides sensor and safety critical mission processing subsystems for various critical defense and intelligence programs in the United States. Its products and solutions are deployed in approximately 300 programs with 25 defense contractors. The company's principal programs include Aegis, Patriot, Surface Electronic Warfare Improvement Program, Gorgon Stare, Predator, F-35, Reaper, F-16 SABR, E2D Hawkeye, Paveway, Filthy Buzzard, PGK, ProVision, P1, and AIDEWS.
See Also: Return on Investment (ROI)
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