Mercury Systems (NASDAQ:MRCY) Price Target Lowered to $26.00 at Truist Financial

Mercury Systems (NASDAQ:MRCY) had its target price decreased by Truist Financial from $28.00 to $26.00 in a research report released on Wednesday morning, Benzinga reports. Truist Financial currently has a hold rating on the technology company’s stock.

Several other brokerages have also recently commented on MRCY. Royal Bank of Canada cut their price objective on Mercury Systems from $35.00 to $30.00 and set a sector perform rating on the stock in a research note on Wednesday, February 7th. The Goldman Sachs Group lowered their price target on Mercury Systems from $24.00 to $21.00 and set a sell rating for the company in a report on Thursday, February 8th. Four analysts have rated the stock with a sell rating and four have given a hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of Hold and an average target price of $29.63.

Mercury Systems Price Performance

Shares of NASDAQ MRCY traded up $0.06 during midday trading on Wednesday, hitting $28.83. The stock had a trading volume of 780,091 shares, compared to its average volume of 537,105. The stock has a 50 day simple moving average of $28.82 and a 200-day simple moving average of $31.78. The company has a market capitalization of $1.71 billion, a PE ratio of -19.31 and a beta of 0.68. The company has a quick ratio of 2.79, a current ratio of 4.36 and a debt-to-equity ratio of 0.41. Mercury Systems has a 1 year low of $25.31 and a 1 year high of $43.84.

Mercury Systems (NASDAQ:MRCY) last released its quarterly earnings results on Tuesday, February 6th. The technology company reported ($0.58) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.10) by ($0.48). Mercury Systems had a negative return on equity of 2.62% and a negative net margin of 9.54%. The company had revenue of $197.46 million for the quarter, compared to analysts’ expectations of $215.41 million. On average, sell-side analysts expect that Mercury Systems will post -1.4 EPS for the current fiscal year.

Insider Activity

In other Mercury Systems news, CFO David E. Farnsworth bought 3,567 shares of Mercury Systems stock in a transaction on Friday, February 9th. The shares were bought at an average price of $28.09 per share, for a total transaction of $100,197.03. Following the completion of the transaction, the chief financial officer now directly owns 126,618 shares of the company’s stock, valued at $3,556,699.62. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. In other Mercury Systems news, CFO David E. Farnsworth acquired 3,567 shares of the stock in a transaction dated Friday, February 9th. The stock was acquired at an average cost of $28.09 per share, with a total value of $100,197.03. Following the transaction, the chief financial officer now owns 126,618 shares in the company, valued at approximately $3,556,699.62. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Barry R. Nearhos bought 3,500 shares of Mercury Systems stock in a transaction dated Friday, February 9th. The stock was purchased at an average cost of $27.15 per share, with a total value of $95,025.00. Following the completion of the acquisition, the director now directly owns 3,500 shares in the company, valued at approximately $95,025. The disclosure for this purchase can be found here. Over the last 90 days, insiders have purchased 14,133 shares of company stock worth $398,311 and have sold 3,510 shares worth $103,685. Company insiders own 1.80% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of MRCY. JANA Partners Management LP bought a new stake in shares of Mercury Systems during the 3rd quarter worth about $174,518,000. William Blair Investment Management LLC raised its stake in shares of Mercury Systems by 25.6% in the 3rd quarter. William Blair Investment Management LLC now owns 6,749,562 shares of the technology company’s stock valued at $250,341,000 after acquiring an additional 1,376,905 shares in the last quarter. Cooper Creek Partners Management LLC grew its position in shares of Mercury Systems by 118.8% in the third quarter. Cooper Creek Partners Management LLC now owns 870,936 shares of the technology company’s stock valued at $32,303,000 after purchasing an additional 472,803 shares during the last quarter. Vanguard Group Inc. lifted its stake in shares of Mercury Systems by 8.3% in the third quarter. Vanguard Group Inc. now owns 5,615,965 shares of the technology company’s stock valued at $208,296,000 after buying an additional 429,532 shares during the period. Finally, Norges Bank acquired a new stake in Mercury Systems during the fourth quarter valued at approximately $13,294,000. 95.99% of the stock is currently owned by institutional investors and hedge funds.

Mercury Systems Company Profile

Mercury Systems, Inc, a technology company, manufactures and sells components, products, modules, and subsystems for aerospace and defense industries in the United States, Europe, and the Asia Pacific. Its products and solutions are deployed in approximately 300 programs with 25 defense contractors and commercial aviation customers.