Mercury Systems (NASDAQ:MRCY) Raised to Hold at StockNews.com

StockNews.com upgraded shares of Mercury Systems (NASDAQ:MRCY) from a sell rating to a hold rating in a research report report published on Saturday morning.

A number of other brokerages also recently weighed in on MRCY. Truist Financial lifted their target price on Mercury Systems from $26.00 to $31.00 and gave the stock a hold rating in a report on Wednesday, August 14th. Royal Bank of Canada upped their price objective on shares of Mercury Systems from $30.00 to $35.00 and gave the company a sector perform rating in a report on Wednesday, August 14th. Robert W. Baird raised their target price on Mercury Systems from $26.00 to $37.00 and gave the company a neutral rating in a research note on Wednesday, August 14th. JPMorgan Chase & Co. upped their price target on Mercury Systems from $26.00 to $36.00 and gave the stock a neutral rating in a research note on Thursday, September 5th. Finally, Alembic Global Advisors upgraded Mercury Systems from a neutral rating to an overweight rating and set a $48.00 target price on the stock in a report on Monday, August 19th. Three research analysts have rated the stock with a sell rating, five have assigned a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of Hold and an average target price of $33.50.

Mercury Systems Price Performance

Shares of MRCY opened at $36.75 on Friday. The company has a quick ratio of 2.64, a current ratio of 4.07 and a debt-to-equity ratio of 0.40. The stock has a market cap of $2.18 billion, a PE ratio of -15.64 and a beta of 0.70. Mercury Systems has a 12-month low of $25.31 and a 12-month high of $42.72. The business has a 50-day simple moving average of $36.65 and a two-hundred day simple moving average of $32.15.

Mercury Systems (NASDAQ:MRCY) last released its quarterly earnings data on Tuesday, August 13th. The technology company reported $0.09 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.23) by $0.32. Mercury Systems had a negative return on equity of 4.92% and a negative net margin of 16.48%. The company had revenue of $248.56 million during the quarter, compared to the consensus estimate of $223.80 million. Analysts anticipate that Mercury Systems will post -0.52 earnings per share for the current fiscal year.

Insider Activity at Mercury Systems

In other Mercury Systems news, COO Charles Roger Iv Wells sold 1,346 shares of the business’s stock in a transaction on Monday, August 19th. The shares were sold at an average price of $39.49, for a total transaction of $53,153.54. Following the sale, the chief operating officer now owns 130,408 shares of the company’s stock, valued at $5,149,811.92. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. In related news, COO Charles Roger Iv Wells sold 1,346 shares of the business’s stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $39.49, for a total transaction of $53,153.54. Following the completion of the transaction, the chief operating officer now owns 130,408 shares of the company’s stock, valued at approximately $5,149,811.92. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Debora A. Plunkett sold 1,843 shares of the business’s stock in a transaction on Friday, August 30th. The shares were sold at an average price of $38.07, for a total transaction of $70,163.01. Following the transaction, the director now owns 11,339 shares of the company’s stock, valued at $431,675.73. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 22,099 shares of company stock worth $865,740. 1.80% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Mercury Systems

Several institutional investors have recently added to or reduced their stakes in the company. Louisiana State Employees Retirement System grew its stake in shares of Mercury Systems by 1.5% in the second quarter. Louisiana State Employees Retirement System now owns 26,300 shares of the technology company’s stock worth $710,000 after acquiring an additional 400 shares during the last quarter. Illinois Municipal Retirement Fund boosted its holdings in shares of Mercury Systems by 1.5% during the 1st quarter. Illinois Municipal Retirement Fund now owns 29,782 shares of the technology company’s stock valued at $879,000 after purchasing an additional 450 shares during the last quarter. Texas Permanent School Fund Corp boosted its position in shares of Mercury Systems by 1.1% during the 1st quarter. Texas Permanent School Fund Corp now owns 45,577 shares of the technology company’s stock valued at $1,345,000 after acquiring an additional 514 shares during the last quarter. Iridian Asset Management LLC CT grew its stake in shares of Mercury Systems by 11.4% in the 2nd quarter. Iridian Asset Management LLC CT now owns 9,464 shares of the technology company’s stock worth $255,000 after buying an additional 972 shares in the last quarter. Finally, Gabelli Funds LLC lifted its position in Mercury Systems by 8.4% in the second quarter. Gabelli Funds LLC now owns 12,859 shares of the technology company’s stock worth $347,000 after buying an additional 1,000 shares during the last quarter. Hedge funds and other institutional investors own 95.99% of the company’s stock.

About Mercury Systems

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.