Mercury Systems (NASDAQ:MRCY) Upgraded 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 sent to investors on Wednesday.

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

Mercury Systems Stock Performance

Shares of MRCY stock opened at $35.92 on Wednesday. The firm has a 50 day moving average of $35.12 and a 200-day moving average of $31.24. The company has a market cap of $2.13 billion, a price-to-earnings ratio of -15.29 and a beta of 0.69. The company has a quick ratio of 2.64, a current ratio of 4.07 and a debt-to-equity ratio of 0.40. Mercury Systems has a 52 week low of $25.31 and a 52 week high of $42.72.

Mercury Systems (NASDAQ:MRCY) last posted its quarterly earnings results on Tuesday, August 13th. The technology company reported $0.09 EPS for the quarter, topping analysts’ consensus estimates of ($0.23) by $0.32. Mercury Systems had a negative net margin of 16.48% and a negative return on equity of 4.92%. The business had revenue of $248.56 million during the quarter, compared to analysts’ expectations of $223.80 million. On average, equities analysts forecast that Mercury Systems will post -0.48 earnings per share for the current year.

Insiders Place Their Bets

In other news, EVP Stephanie Georges sold 1,340 shares of the stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $39.49, for a total value of $52,916.60. Following the completion of the sale, the executive vice president now owns 32,259 shares in the company, valued at $1,273,907.91. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, Director Jana Partners Management, Lp bought 13,600 shares of the company’s stock in a transaction on Tuesday, August 27th. The shares were purchased at an average price of $37.25 per share, with a total value of $506,600.00. Following the transaction, the director now directly owns 6,944,633 shares in the company, valued at $258,687,579.25. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Stephanie Georges sold 1,340 shares of the business’s stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $39.49, for a total value of $52,916.60. Following the completion of the transaction, the executive vice president now owns 32,259 shares in the company, valued at approximately $1,273,907.91. The disclosure for this sale can be found here. Insiders have sold 20,187 shares of company stock valued at $792,982 in the last three months. 1.80% of the stock is currently owned by insiders.

Institutional Trading of Mercury Systems

Institutional investors and hedge funds have recently modified their holdings of the business. Louisiana State Employees Retirement System grew its stake in Mercury Systems by 1.5% in the 2nd quarter. Louisiana State Employees Retirement System now owns 26,300 shares of the technology company’s stock valued at $710,000 after purchasing an additional 400 shares during the period. Illinois Municipal Retirement Fund boosted its holdings in shares of Mercury Systems by 1.5% in the 1st quarter. Illinois Municipal Retirement Fund now owns 29,782 shares of the technology company’s stock worth $879,000 after buying an additional 450 shares during the last quarter. Texas Permanent School Fund Corp grew its position in Mercury Systems by 1.1% during the first quarter. Texas Permanent School Fund Corp now owns 45,577 shares of the technology company’s stock valued at $1,345,000 after buying an additional 514 shares during the period. Iridian Asset Management LLC CT increased its holdings in Mercury Systems by 11.4% during the second 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 during the last quarter. Finally, Gabelli Funds LLC raised 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 acquiring an additional 1,000 shares during the period. 95.99% of the stock is owned by hedge funds and other institutional investors.

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.