Mercury Systems (NASDAQ:MRCY) Upgraded to Hold at Jefferies Financial Group

Jefferies Financial Group upgraded shares of Mercury Systems (NASDAQ:MRCY) from an underperform rating to a hold rating in a research report report published on Monday, MarketBeat.com reports. They currently have $42.00 target price on the technology company’s stock, up from their prior target price of $30.00.

Other equities research analysts have also recently issued reports about the stock. StockNews.com cut shares of Mercury Systems from a “hold” rating to a “sell” rating in a research note on Thursday, November 7th. Truist Financial upped their price target on shares of Mercury Systems from $26.00 to $31.00 and gave the stock a “hold” rating in a research note on Wednesday, August 14th. Robert W. Baird raised their price objective on shares of Mercury Systems from $26.00 to $37.00 and gave the company a “neutral” rating in a research note on Wednesday, August 14th. Royal Bank of Canada upped their target price on Mercury Systems from $30.00 to $35.00 and gave the stock a “sector perform” rating in a research report on Wednesday, August 14th. Finally, JPMorgan Chase & Co. lifted their price target on Mercury Systems from $36.00 to $40.00 and gave the company a “neutral” rating in a research report on Thursday, November 7th. Three research analysts have rated the stock with a sell rating, five have given a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $35.50.

Mercury Systems Price Performance

Shares of NASDAQ:MRCY opened at $40.84 on Monday. The firm’s 50 day moving average is $36.55 and its two-hundred day moving average is $33.68. The firm has a market capitalization of $2.44 billion, a P/E ratio of -20.88 and a beta of 0.71. The company has a current ratio of 4.10, a quick ratio of 2.59 and a debt-to-equity ratio of 0.41. Mercury Systems has a 52 week low of $25.31 and a 52 week high of $44.63.

Mercury Systems (NASDAQ:MRCY) last posted its earnings results on Tuesday, August 13th. The technology company reported $0.09 EPS for the quarter, beating the consensus estimate of ($0.23) by $0.32. Mercury Systems had a negative return on equity of 3.96% and a negative net margin of 13.80%. The firm had revenue of $248.56 million for the quarter, compared to analysts’ expectations of $223.80 million. Analysts anticipate that Mercury Systems will post -0.3 earnings per share for the current year.

Insider Transactions at Mercury Systems

In other news, COO Charles Roger Iv Wells sold 1,346 shares of the company’s stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $39.49, for a total value of $53,153.54. Following the transaction, the chief operating officer now owns 130,408 shares in the company, valued at $5,149,811.92. This represents a 1.02 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Stephanie Georges sold 1,340 shares of the stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $39.49, for a total transaction of $52,916.60. Following the completion of the sale, the executive vice president now directly owns 32,259 shares of the company’s stock, valued at $1,273,907.91. This trade represents a 3.99 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 22,099 shares of company stock valued at $865,740 over the last quarter. Company insiders own 1.60% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Verition Fund Management LLC acquired a new stake in shares of Mercury Systems during the 3rd quarter valued at $424,000. PEAK6 Investments LLC purchased a new stake in shares of Mercury Systems during the third quarter worth $686,000. MetLife Investment Management LLC boosted its position in Mercury Systems by 129.1% during the third quarter. MetLife Investment Management LLC now owns 31,667 shares of the technology company’s stock valued at $1,172,000 after purchasing an additional 17,843 shares during the last quarter. Glenmede Trust Co. NA acquired a new stake in Mercury Systems during the third quarter valued at $256,000. Finally, FMR LLC grew its stake in Mercury Systems by 46.5% in the third quarter. FMR LLC now owns 3,067 shares of the technology company’s stock valued at $113,000 after purchasing an additional 974 shares in the last quarter. 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.