Mercury Systems (NASDAQ:MRCY) Upgraded to “Hold” at StockNews.com

Mercury Systems (NASDAQ:MRCY) was upgraded by investment analysts at StockNews.com from a “sell” rating to a “hold” rating in a report issued on Saturday.

A number of other equities research analysts have also recently commented on the company. JPMorgan Chase & Co. raised their target price on Mercury Systems from $26.00 to $36.00 and gave the company a “neutral” rating in a research report on Thursday, September 5th. 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 report on Wednesday, August 14th. Alembic Global Advisors upgraded shares of Mercury Systems from a “neutral” rating to an “overweight” rating and set a $48.00 target price for the company in a report on Monday, August 19th. Royal Bank of Canada upped their price target on Mercury Systems from $30.00 to $35.00 and gave the stock a “sector perform” rating in a research note on Wednesday, August 14th. Finally, Truist Financial upped their target price 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 research analysts have rated the stock with a sell rating, five have given a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat.com, Mercury Systems presently has a consensus rating of “Hold” and an average target price of $33.50.

Mercury Systems Stock Performance

Shares of NASDAQ MRCY opened at $37.35 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 company has a market cap of $2.22 billion, a PE ratio of -15.89 and a beta of 0.70. Mercury Systems has a 52-week low of $25.31 and a 52-week high of $42.72. The firm’s 50-day moving average price is $36.65 and its 200-day moving average price is $32.09.

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

Insider Buying and Selling

In other Mercury Systems news, Director Debora A. Plunkett sold 1,843 shares of the firm’s stock in a transaction on Friday, August 30th. The stock was 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 in the company, valued at $431,675.73. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, COO Charles Roger Iv Wells sold 1,346 shares of the business’s stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $39.49, for a total transaction of $53,153.54. Following the transaction, the chief operating officer now directly owns 130,408 shares in the company, valued at approximately $5,149,811.92. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Debora A. Plunkett sold 1,843 shares of the business’s stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $38.07, for a total transaction of $70,163.01. Following the completion of the transaction, the director now directly owns 11,339 shares in the company, 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. Over the last 90 days, insiders sold 22,099 shares of company stock worth $865,740. Company insiders own 1.80% of the company’s stock.

Institutional Trading of Mercury Systems

Several hedge funds and other institutional investors have recently modified their holdings of MRCY. Sei Investments Co. boosted its position in Mercury Systems by 27.0% during the first quarter. Sei Investments Co. now owns 216,956 shares of the technology company’s stock valued at $6,400,000 after buying an additional 46,132 shares during the period. Jane Street Group LLC raised its holdings in shares of Mercury Systems by 102.6% during the 1st quarter. Jane Street Group LLC now owns 257,514 shares of the technology company’s stock worth $7,597,000 after acquiring an additional 130,396 shares in the last quarter. Natixis bought a new stake in Mercury Systems during the first quarter worth approximately $693,000. Van ECK Associates Corp boosted its stake in shares of Mercury Systems by 258.7% during the 1st quarter. Van ECK Associates Corp now owns 112,813 shares of the technology company’s stock worth $3,328,000 after purchasing an additional 81,364 shares during the period. Finally, William Blair Investment Management LLC increased its stake in Mercury Systems by 0.6% in the second quarter. William Blair Investment Management LLC now owns 6,416,449 shares of the technology company’s stock worth $173,180,000 after purchasing an additional 36,923 shares during the period. 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.