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

Mercury Systems (NASDAQ:MRCY) was upgraded by StockNews.com from a “sell” rating to a “hold” rating in a note issued to investors on Friday.

A number of other brokerages have also weighed in on MRCY. Alembic Global Advisors upgraded shares of Mercury Systems from a “neutral” rating to an “overweight” rating and set a $48.00 target price on the stock in a research report on Monday, August 19th. Robert W. Baird upped their target price on Mercury Systems from $26.00 to $37.00 and gave the stock a “neutral” rating in a report on Wednesday, August 14th. Truist Financial lifted their price target on Mercury Systems from $26.00 to $31.00 and gave the company a “hold” rating in a research note on Wednesday, August 14th. JPMorgan Chase & Co. upped their price objective on Mercury Systems from $26.00 to $36.00 and gave the company a “neutral” rating in a research note on Thursday, September 5th. Finally, Royal Bank of Canada raised their price target on shares of Mercury Systems from $30.00 to $35.00 and gave the company a “sector perform” rating in a research note on Wednesday, August 14th. Three investment 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, Mercury Systems presently has an average rating of “Hold” and an average price target of $33.50.

Mercury Systems Price Performance

Mercury Systems stock opened at $36.97 on Friday. The company has a debt-to-equity ratio of 0.40, a quick ratio of 2.64 and a current ratio of 4.07. Mercury Systems has a 52 week low of $25.31 and a 52 week high of $42.72. The stock has a market capitalization of $2.19 billion, a P/E ratio of -15.73 and a beta of 0.69. The stock has a fifty day moving average of $36.22 and a 200-day moving average of $31.72.

Mercury Systems (NASDAQ:MRCY) last issued its earnings results on Tuesday, August 13th. The technology company reported $0.09 EPS for the quarter, topping the consensus estimate of ($0.23) by $0.32. The firm had revenue of $248.56 million during 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%. On average, sell-side analysts expect that Mercury Systems will post -0.52 earnings per share for the current fiscal year.

Insider Transactions at Mercury Systems

In other Mercury Systems news, Director Jana Partners Management, Lp acquired 13,600 shares of the stock in a transaction dated Tuesday, August 27th. The stock was purchased at an average cost of $37.25 per share, with a total value of $506,600.00. Following the transaction, the director now owns 6,944,633 shares in the company, valued at approximately $258,687,579.25. The acquisition was disclosed in a filing with the SEC, which is available at this link. In other Mercury Systems news, Director Jana Partners Management, Lp purchased 13,600 shares of the business’s stock in a transaction on Tuesday, August 27th. The shares were purchased at an average cost of $37.25 per share, for a total transaction of $506,600.00. Following the acquisition, the director now owns 6,944,633 shares of the company’s stock, valued at $258,687,579.25. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Stephanie Georges sold 1,340 shares of the firm’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 transaction of $52,916.60. Following the sale, the executive vice president now directly owns 32,259 shares of the company’s stock, valued at approximately $1,273,907.91. The disclosure for this sale can be found here. Insiders sold a total of 22,099 shares of company stock worth $865,740 over the last three months. 1.80% of the stock is owned by company insiders.

Hedge Funds Weigh In On Mercury Systems

Several institutional investors have recently made changes to their positions in the stock. Norges Bank bought a new stake in shares of Mercury Systems during the fourth quarter valued at approximately $13,294,000. Treasurer of the State of North Carolina raised its holdings in Mercury Systems by 9.4% during the fourth quarter. Treasurer of the State of North Carolina now owns 23,807 shares of the technology company’s stock worth $871,000 after buying an additional 2,040 shares during the last quarter. Evoke Wealth LLC acquired a new position in Mercury Systems during the fourth quarter worth $275,000. Crestline Management LP lifted its stake in shares of Mercury Systems by 3.4% in the fourth quarter. Crestline Management LP now owns 267,437 shares of the technology company’s stock valued at $9,780,000 after buying an additional 8,892 shares in the last quarter. Finally, The Manufacturers Life Insurance Company grew its holdings in shares of Mercury Systems by 10.9% during the fourth quarter. The Manufacturers Life Insurance Company now owns 913,498 shares of the technology company’s stock valued at $33,407,000 after buying an additional 89,416 shares during the last quarter. Institutional investors and hedge funds 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.