Mercury Systems (NASDAQ:MRCY) Rating Increased to Buy at Wall Street Zen

by · The Markets Daily

Wall Street Zen upgraded shares of Mercury Systems (NASDAQ:MRCY – Free Report) from a hold rating to a buy rating in a research note published on Saturday.

Several other brokerages also recently commented on MRCY. JPMorgan Chase & Co. increased their price objective on shares of Mercury Systems from $56.00 to $68.00 and gave the company a “neutral” rating in a research report on Tuesday, August 12th. Zacks Research raised shares of Mercury Systems from a “strong sell” rating to a “strong-buy” rating in a report on Thursday, August 21st. The Goldman Sachs Group raised their price target on shares of Mercury Systems from $35.00 to $39.00 and gave the company a “sell” rating in a report on Wednesday, August 13th. Truist Financial raised their price target on shares of Mercury Systems from $60.00 to $71.00 and gave the company a “buy” rating in a report on Tuesday, August 12th. Finally, Royal Bank Of Canada raised their price target on shares of Mercury Systems from $50.00 to $55.00 and gave the company a “sector perform” rating in a report on Thursday, July 3rd. Three analysts have rated the stock with a Strong Buy rating, two have given a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Mercury Systems has an average rating of “Moderate Buy” and an average target price of $60.71.

Check Out Our Latest Report on MRCY

Mercury Systems Stock Performance

Shares of MRCY stock opened at $72.81 on Friday. Mercury Systems has a one year low of $32.32 and a one year high of $74.00. The company’s 50-day moving average is $60.26 and its 200 day moving average is $52.15. The company has a market capitalization of $4.37 billion, a price-to-earnings ratio of -110.32, a price-to-earnings-growth ratio of 3.01 and a beta of 0.77. The company has a debt-to-equity ratio of 0.40, a quick ratio of 2.41 and a current ratio of 3.52.

Mercury Systems (NASDAQ:MRCY – Get Free Report) last announced its quarterly earnings data on Monday, August 11th. The technology company reported $0.47 EPS for the quarter, beating the consensus estimate of $0.21 by $0.26. Mercury Systems had a negative net margin of 4.16% and a positive return on equity of 0.58%. The company had revenue of $273.11 million for the quarter, compared to the consensus estimate of $244.56 million. During the same period in the prior year, the firm posted $0.23 EPS. Mercury Systems’s revenue for the quarter was up 9.9% on a year-over-year basis. Sell-side analysts expect that Mercury Systems will post -0.08 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CEO William L. Ballhaus sold 13,050 shares of the firm’s stock in a transaction that occurred on Tuesday, August 19th. The shares were sold at an average price of $64.46, for a total value of $841,203.00. Following the transaction, the chief executive officer owned 374,976 shares of the company’s stock, valued at approximately $24,170,952.96. This trade represents a 3.36% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP David E. Farnsworth sold 7,572 shares of the firm’s stock in a transaction that occurred on Tuesday, August 19th. The stock was sold at an average price of $64.46, for a total transaction of $488,091.12. Following the completion of the transaction, the executive vice president directly owned 161,326 shares in the company, valued at approximately $10,399,073.96. The trade was a 4.48% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 848,913 shares of company stock valued at $55,524,330 in the last 90 days. 1.40% of the stock is owned by insiders.

Institutional Investors Weigh In On Mercury Systems

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Osaic Holdings Inc. raised its stake in Mercury Systems by 53.2% during the 2nd quarter. Osaic Holdings Inc. now owns 599 shares of the technology company’s stock worth $32,000 after acquiring an additional 208 shares during the period. Quaker Wealth Management LLC raised its stake in Mercury Systems by 200.0% during the 2nd quarter. Quaker Wealth Management LLC now owns 644 shares of the technology company’s stock worth $35,000 after acquiring an additional 1,288 shares during the period. Neo Ivy Capital Management bought a new stake in Mercury Systems during the 4th quarter worth approximately $33,000. Federated Hermes Inc. bought a new stake in Mercury Systems during the 2nd quarter worth approximately $43,000. Finally, EverSource Wealth Advisors LLC raised its stake in Mercury Systems by 33.7% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 929 shares of the technology company’s stock worth $50,000 after acquiring an additional 234 shares during the period. Institutional investors own 95.99% of the company’s stock.

About Mercury Systems

(Get Free Report)

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.

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