Zacks Investment Research upgraded shares of Mercury Systems (NASDAQ:MRCY) from a hold rating to a buy rating in a research report released on Tuesday. They currently have $54.00 price target on the technology company’s stock.
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 equities research analysts have also issued research reports about the company. ValuEngine raised Mercury Systems from a hold rating to a buy rating in a report on Thursday, August 30th. BidaskClub raised Mercury Systems from a hold rating to a buy rating in a report on Tuesday, September 11th. Canaccord Genuity initiated coverage on Mercury Systems in a report on Thursday, October 4th. They issued a buy rating and a $64.00 price objective on the stock. Finally, Drexel Hamilton set a $58.00 price objective on Mercury Systems and gave the company a buy rating in a report on Wednesday, October 31st. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. The stock currently has a consensus rating of Buy and a consensus target price of $53.86.
MRCY traded down $1.56 during trading on Tuesday, reaching $50.96. The company’s stock had a trading volume of 318,795 shares, compared to its average volume of 424,979. Mercury Systems has a 52-week low of $30.11 and a 52-week high of $57.26. The firm has a market capitalization of $2.50 billion, a PE ratio of 45.10, a P/E/G ratio of 3.43 and a beta of 0.85. The company has a current ratio of 4.40, a quick ratio of 2.94 and a debt-to-equity ratio of 0.31.
Mercury Systems (NASDAQ:MRCY) last announced its quarterly earnings data on Tuesday, October 30th. The technology company reported $0.39 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.35 by $0.04. Mercury Systems had a return on equity of 6.97% and a net margin of 5.72%. The company had revenue of $144.10 million for the quarter, compared to analyst estimates of $139.12 million. During the same quarter in the previous year, the company earned $0.37 EPS. The firm’s revenue for the quarter was up 35.8% compared to the same quarter last year. On average, sell-side analysts predict that Mercury Systems will post 1.41 EPS for the current year.
In other news, insider Mark Aslett sold 30,000 shares of the business’s stock in a transaction that occurred on Thursday, September 20th. The stock was sold at an average price of $54.91, for a total transaction of $1,647,300.00. Following the sale, the insider now owns 427,440 shares of the company’s stock, valued at approximately $23,470,730.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Didier M. C. Thibaud sold 3,500 shares of the business’s stock in a transaction that occurred on Tuesday, September 4th. The stock was sold at an average price of $54.23, for a total value of $189,805.00. Following the sale, the chief operating officer now directly owns 318,525 shares in the company, valued at approximately $17,273,610.75. The disclosure for this sale can be found here. Insiders have sold a total of 55,200 shares of company stock worth $2,920,742 in the last three months. Corporate insiders own 2.80% of the company’s stock.
Several large investors have recently made changes to their positions in MRCY. Conestoga Capital Advisors LLC purchased a new stake in shares of Mercury Systems during the 2nd quarter worth approximately $43,032,000. Federated Investors Inc. PA raised its position in shares of Mercury Systems by 344.2% during the 2nd quarter. Federated Investors Inc. PA now owns 970,500 shares of the technology company’s stock worth $36,937,000 after purchasing an additional 752,000 shares during the last quarter. BlackRock Inc. raised its position in shares of Mercury Systems by 8.9% during the 2nd quarter. BlackRock Inc. now owns 8,274,536 shares of the technology company’s stock worth $314,928,000 after purchasing an additional 672,821 shares during the last quarter. Fred Alger Management Inc. raised its position in shares of Mercury Systems by 245.7% during the 2nd quarter. Fred Alger Management Inc. now owns 827,399 shares of the technology company’s stock worth $31,491,000 after purchasing an additional 588,093 shares during the last quarter. Finally, Glenmede Trust Co. NA raised its position in shares of Mercury Systems by 59.7% during the 2nd quarter. Glenmede Trust Co. NA now owns 1,130,014 shares of the technology company’s stock worth $43,008,000 after purchasing an additional 422,612 shares during the last quarter. 96.81% of the stock is currently owned by institutional investors and hedge funds.
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.
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