Mercury Systems (NASDAQ:MRCY) Upgraded at StockNews.com

Mercury Systems (NASDAQ:MRCY) was upgraded by equities researchers at StockNews.com from a “sell” rating to a “hold” rating in a research note issued on Saturday.

Several other research firms also recently weighed in on MRCY. JPMorgan Chase & Co. raised their price target on Mercury Systems from $26.00 to $36.00 and gave the stock a “neutral” rating in a research report on Thursday, September 5th. Alembic Global Advisors upgraded Mercury Systems from a “neutral” rating to an “overweight” rating and set a $48.00 price target for the company in a research note on Monday, August 19th. Royal Bank of Canada lifted their price target on Mercury Systems from $30.00 to $35.00 and gave the company a “sector perform” rating in a report on Wednesday, August 14th. Robert W. Baird upped their price target on Mercury Systems from $26.00 to $37.00 and gave the company a “neutral” rating in a report on Wednesday, August 14th. Finally, Truist Financial increased their price target on shares of Mercury Systems from $26.00 to $31.00 and gave the stock a “hold” rating in a research report on Wednesday, August 14th. Three research analysts have rated the stock with a sell rating, five have issued a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat.com, Mercury Systems presently has an average rating of “Hold” and a consensus target price of $33.50.

Mercury Systems Stock Performance

NASDAQ:MRCY opened at $37.35 on Friday. The company has a current ratio of 4.07, a quick ratio of 2.64 and a debt-to-equity ratio of 0.40. The company’s 50-day moving average price is $36.65 and its 200-day moving average price is $32.09. The company has a market cap of $2.22 billion, a P/E ratio of -15.89 and a beta of 0.70. Mercury Systems has a twelve month low of $25.31 and a twelve month high of $42.72.

Mercury Systems (NASDAQ:MRCY) last released 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 analysts’ expectations 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 forecast that Mercury Systems will post -0.52 earnings per share for the current fiscal year.

Insider Activity at Mercury Systems

In related news, EVP Stephanie Georges sold 1,340 shares of Mercury Systems stock in a transaction 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 owns 32,259 shares of the company’s stock, valued at approximately $1,273,907.91. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, Director Jana Partners Management, Lp purchased 13,600 shares of Mercury Systems stock in a transaction that occurred on Tuesday, August 27th. The shares were bought at an average cost of $37.25 per share, with a total value of $506,600.00. Following the completion of the purchase, the director now directly owns 6,944,633 shares in the company, valued at approximately $258,687,579.25. This trade represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Stephanie Georges sold 1,340 shares of the company’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 value of $52,916.60. Following the completion of the sale, the executive vice president now owns 32,259 shares in the company, valued at $1,273,907.91. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 22,099 shares of company stock worth $865,740. Insiders own 1.80% of the company’s stock.

Institutional Investors Weigh In On Mercury Systems

A number of hedge funds have recently added to or reduced their stakes in MRCY. Treasurer of the State of North Carolina grew its stake 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 valued at $871,000 after acquiring an additional 2,040 shares in the last quarter. Westwood Holdings Group Inc. increased its position in Mercury Systems by 0.6% during the fourth quarter. Westwood Holdings Group Inc. now owns 1,354,566 shares of the technology company’s stock valued at $49,536,000 after acquiring an additional 8,603 shares during the last quarter. Redwood Investment Management LLC grew its holdings in Mercury Systems by 1.3% during the 4th quarter. Redwood Investment Management LLC now owns 87,782 shares of the technology company’s stock valued at $3,210,000 after purchasing an additional 1,084 shares during the last quarter. Cim Investment Management Inc. raised its position in Mercury Systems by 36.1% in the 4th quarter. Cim Investment Management Inc. now owns 9,990 shares of the technology company’s stock worth $365,000 after purchasing an additional 2,650 shares during the period. Finally, Wellington Management Group LLP lifted its stake in Mercury Systems by 2.7% in the fourth quarter. Wellington Management Group LLP now owns 46,903 shares of the technology company’s stock worth $1,715,000 after purchasing an additional 1,251 shares during the last quarter. 95.99% of the stock is currently owned by hedge funds and other institutional investors.

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.