Truist Financial Upgrades Mercury Systems (NASDAQ:MRCY) to “Buy”

Mercury Systems (NASDAQ:MRCY) was upgraded by investment analysts at Truist Financial from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Thursday, Marketbeat reports. The brokerage currently has a $56.00 price objective on the technology company’s stock, up from their prior price objective of $49.00. Truist Financial’s price target suggests a potential upside of 20.38% from the company’s current price.

Several other equities analysts have also commented on the stock. Robert W. Baird upgraded shares of Mercury Systems from a “neutral” rating to an “outperform” rating and increased their price target for the company from $37.00 to $58.00 in a research note on Wednesday, February 5th. StockNews.com upgraded shares of Mercury Systems from a “sell” rating to a “hold” rating in a research note on Thursday, December 5th. Baird R W upgraded shares of Mercury Systems from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, February 5th. Finally, The Goldman Sachs Group raised their target price on shares of Mercury Systems from $25.00 to $28.00 and gave the stock a “sell” rating in a research report on Thursday, January 16th. One investment analyst has rated the stock with a sell rating, four have given a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $43.86.

Mercury Systems Stock Performance

Shares of Mercury Systems stock opened at $46.52 on Thursday. The firm has a market capitalization of $2.78 billion, a P/E ratio of -29.82 and a beta of 0.80. Mercury Systems has a 52 week low of $26.48 and a 52 week high of $52.25. The company has a quick ratio of 2.36, a current ratio of 3.62 and a debt-to-equity ratio of 0.41. The firm’s 50 day moving average is $43.54 and its two-hundred day moving average is $39.92.

Mercury Systems (NASDAQ:MRCY) last announced its quarterly earnings results on Tuesday, February 4th. The technology company reported ($0.08) EPS for the quarter, missing the consensus estimate of ($0.04) by ($0.04). Mercury Systems had a negative net margin of 10.23% and a negative return on equity of 2.03%. Research analysts forecast that Mercury Systems will post -0.08 EPS for the current fiscal year.

Insider Buying and Selling

In related news, COO Charles Roger Iv Wells sold 2,342 shares of the stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $44.12, for a total transaction of $103,329.04. Following the completion of the sale, the chief operating officer now directly owns 95,928 shares of the company’s stock, valued at $4,232,343.36. This trade represents a 2.38 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CAO Douglas Munro sold 595 shares of the stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $44.12, for a total value of $26,251.40. Following the sale, the chief accounting officer now directly owns 14,572 shares of the company’s stock, valued at approximately $642,916.64. This represents a 3.92 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 5,314 shares of company stock valued at $234,454 over the last three months. 1.60% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Mercury Systems

Several hedge funds have recently modified their holdings of MRCY. Covestor Ltd lifted its holdings in Mercury Systems by 41.2% in the third quarter. Covestor Ltd now owns 2,124 shares of the technology company’s stock valued at $78,000 after acquiring an additional 620 shares during the period. GSA Capital Partners LLP acquired a new stake in Mercury Systems in the third quarter valued at $289,000. Oppenheimer & Co. Inc. lifted its holdings in Mercury Systems by 6.8% in the third quarter. Oppenheimer & Co. Inc. now owns 39,528 shares of the technology company’s stock valued at $1,463,000 after acquiring an additional 2,530 shares during the period. Zions Bancorporation N.A. lifted its holdings in Mercury Systems by 17.1% in the third quarter. Zions Bancorporation N.A. now owns 43,834 shares of the technology company’s stock valued at $1,622,000 after acquiring an additional 6,403 shares during the period. Finally, Royce & Associates LP lifted its holdings in Mercury Systems by 0.9% in the third quarter. Royce & Associates LP now owns 221,279 shares of the technology company’s stock valued at $8,187,000 after acquiring an additional 1,920 shares during the period. 95.99% of the stock is owned by institutional investors and hedge funds.

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.