Mercury Systems, Inc. (NASDAQ:MRCY) Receives Average Recommendation of “Reduce” from Brokerages

Shares of Mercury Systems, Inc. (NASDAQ:MRCY) have earned a consensus rating of “Reduce” from the seven brokerages that are presently covering the company, Marketbeat.com reports. Three analysts have rated the stock with a sell rating and four have given a hold rating to the company. The average 12-month target price among analysts that have updated their coverage on the stock in the last year is $26.86.

MRCY has been the subject of a number of research analyst reports. JPMorgan Chase & Co. increased their price target on Mercury Systems from $24.00 to $26.00 and gave the company a “neutral” rating in a research report on Friday, May 24th. Truist Financial decreased their target price on Mercury Systems from $28.00 to $26.00 and set a “hold” rating for the company in a research report on Wednesday, May 8th.

Mercury Systems Stock Performance

Shares of MRCY stock opened at $28.94 on Wednesday. The company has a debt-to-equity ratio of 0.42, a current ratio of 4.58 and a quick ratio of 2.93. The firm has a 50-day moving average of $29.44 and a 200-day moving average of $30.19. Mercury Systems has a one year low of $25.31 and a one year high of $40.95. The company has a market cap of $1.72 billion, a P/E ratio of -12.31 and a beta of 0.68.

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

Institutional Investors Weigh In On Mercury Systems

Large investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its position in Mercury Systems by 1.0% during the fourth quarter. Vanguard Group Inc. now owns 5,669,352 shares of the technology company’s stock worth $207,328,000 after purchasing an additional 53,387 shares during the period. JANA Partners Management LP purchased a new position in Mercury Systems in the 3rd quarter valued at approximately $174,518,000. Conestoga Capital Advisors LLC raised its holdings in Mercury Systems by 13.4% during the 4th quarter. Conestoga Capital Advisors LLC now owns 2,450,459 shares of the technology company’s stock valued at $89,613,000 after acquiring an additional 288,973 shares during the period. Dimensional Fund Advisors LP raised its holdings in Mercury Systems by 19.7% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,974,504 shares of the technology company’s stock valued at $72,208,000 after acquiring an additional 325,549 shares during the period. Finally, Victory Capital Management Inc. lifted its position in shares of Mercury Systems by 1.6% during the fourth quarter. Victory Capital Management Inc. now owns 1,800,182 shares of the technology company’s stock worth $65,833,000 after acquiring an additional 27,488 shares in the last quarter. Hedge funds and other institutional investors own 95.99% of the company’s stock.

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.