Brokerages Set Mercury Systems, Inc. (NASDAQ:MRCY) PT at $26.86

Mercury Systems, Inc. (NASDAQ:MRCY) has been given an average rating of “Reduce” by the seven analysts that are presently covering the firm, MarketBeat Ratings reports. Three equities research analysts have rated the stock with a sell recommendation and four have given a hold recommendation to the company. The average twelve-month target price among brokers that have issued ratings on the stock in the last year is $26.86.

Several analysts have issued reports on MRCY shares. Truist Financial decreased their price target on shares of Mercury Systems from $28.00 to $26.00 and set a “hold” rating on the stock in a research report on Wednesday, May 8th. JPMorgan Chase & Co. lifted their price target on shares of Mercury Systems from $24.00 to $26.00 and gave the company a “neutral” rating in a report on Friday, May 24th.

Mercury Systems Stock Up 0.2 %

Mercury Systems stock opened at $29.17 on Wednesday. The company has a market capitalization of $1.73 billion, a P/E ratio of -12.41 and a beta of 0.68. The firm’s fifty day simple moving average is $29.46 and its 200-day simple moving average is $30.12. The company has a current ratio of 4.58, a quick ratio of 2.93 and a debt-to-equity ratio of 0.42. Mercury Systems has a 1-year low of $25.31 and a 1-year high of $40.95.

Mercury Systems (NASDAQ:MRCY) last released its quarterly earnings results on Tuesday, May 7th. The technology company reported ($0.42) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.31) by ($0.11). The business had revenue of $208.26 million for the quarter, compared to the consensus estimate of $212.03 million. Mercury Systems had a negative net margin of 16.08% and a negative return on equity of 5.07%. Sell-side analysts forecast that Mercury Systems will post -1.51 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Mercury Systems

A number of institutional investors and hedge funds have recently modified their holdings of MRCY. Natixis Advisors L.P. raised its stake in shares of Mercury Systems by 92.5% during the third quarter. Natixis Advisors L.P. now owns 36,692 shares of the technology company’s stock worth $1,361,000 after buying an additional 17,634 shares during the last quarter. Adage Capital Partners GP L.L.C. grew its holdings in Mercury Systems by 217.9% during the third quarter. Adage Capital Partners GP L.L.C. now owns 95,383 shares of the technology company’s stock valued at $3,538,000 after purchasing an additional 65,383 shares during the period. Seven Eight Capital LP acquired a new position in Mercury Systems during the third quarter valued at approximately $601,000. The Manufacturers Life Insurance Company grew its holdings in Mercury Systems by 50.8% during the third quarter. The Manufacturers Life Insurance Company now owns 824,082 shares of the technology company’s stock valued at $30,565,000 after purchasing an additional 277,689 shares during the period. Finally, Tudor Investment Corp Et Al grew its holdings in Mercury Systems by 108.2% during the third quarter. Tudor Investment Corp Et Al now owns 117,217 shares of the technology company’s stock valued at $4,348,000 after purchasing an additional 60,924 shares during the period. 95.99% of the stock is owned by institutional investors.

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.