Mercury Systems (NASDAQ:MRCY) was upgraded by research analysts at BidaskClub from a “buy” rating to a “strong-buy” rating in a report released on Saturday.
MRCY has been the subject of several other reports. Drexel Hamilton set a $58.00 price target on shares of Mercury Systems and gave the stock a “buy” rating in a report on Wednesday, October 31st. ValuEngine upgraded shares of Mercury Systems from a “sell” rating to a “hold” rating in a report on Thursday, August 2nd. Canaccord Genuity began coverage on shares of Mercury Systems in a report on Thursday, October 4th. They set a “buy” rating and a $64.00 price target for the company. Finally, Zacks Investment Research upgraded shares of Mercury Systems from a “hold” rating to a “buy” rating and set a $54.00 price target for the company in a report on Tuesday. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, six have given a buy rating and one has given a strong buy rating to the company’s stock. Mercury Systems presently has a consensus rating of “Buy” and an average target price of $53.86.
Shares of NASDAQ:MRCY opened at $50.96 on Friday. The firm has a market cap of $2.35 billion, a PE ratio of 45.10, a P/E/G ratio of 3.22 and a beta of 0.85. The company has a debt-to-equity ratio of 0.31, a current ratio of 4.40 and a quick ratio of 2.94. Mercury Systems has a 52-week low of $30.11 and a 52-week high of $57.26.
Mercury Systems (NASDAQ:MRCY) last announced its quarterly earnings results on Tuesday, October 30th. The technology company reported $0.39 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.35 by $0.04. The company had revenue of $144.10 million during the quarter, compared to the consensus estimate of $139.12 million. Mercury Systems had a net margin of 5.72% and a return on equity of 6.97%. The company’s revenue for the quarter was up 35.8% compared to the same quarter last year. During the same period in the prior year, the business earned $0.37 earnings per share. On average, sell-side analysts anticipate that Mercury Systems will post 1.41 EPS for the current year.
In related news, insider Mark Aslett sold 30,000 shares of the stock in a transaction on Thursday, September 20th. The stock was sold at an average price of $54.91, for a total value of $1,647,300.00. Following the completion of the sale, the insider now directly owns 427,440 shares in the company, valued at $23,470,730.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, 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 value of $189,805.00. Following the completion of the sale, the chief operating officer now owns 318,525 shares of the company’s stock, valued at $17,273,610.75. The disclosure for this sale can be found here. Insiders sold 55,200 shares of company stock valued at $2,920,742 over the last 90 days. 2.80% of the stock is currently owned by company insiders.
A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. BlackRock Inc. increased its holdings in Mercury Systems by 0.5% in the third quarter. BlackRock Inc. now owns 8,319,573 shares of the technology company’s stock valued at $460,238,000 after purchasing an additional 45,037 shares during the period. Bank of New York Mellon Corp grew its holdings in Mercury Systems by 2.6% during the 3rd quarter. Bank of New York Mellon Corp now owns 1,868,042 shares of the technology company’s stock worth $103,340,000 after acquiring an additional 48,213 shares during the period. Conestoga Capital Advisors LLC grew its holdings in Mercury Systems by 16.0% during the 3rd quarter. Conestoga Capital Advisors LLC now owns 1,311,985 shares of the technology company’s stock worth $72,579,000 after acquiring an additional 181,345 shares during the period. Glenmede Trust Co. NA grew its holdings in 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 acquiring an additional 422,612 shares during the period. Finally, Alliancebernstein L.P. grew its holdings in Mercury Systems by 6.8% during the 3rd quarter. Alliancebernstein L.P. now owns 1,039,420 shares of the technology company’s stock worth $57,501,000 after acquiring an additional 66,513 shares during the period. Institutional investors and hedge funds own 96.81% of the company’s stock.
About Mercury Systems
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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