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

Mercury Systems, Inc. (NASDAQ:MRCY) has been assigned a consensus recommendation of “Reduce” from the seven brokerages that are covering the firm, MarketBeat reports. Three research analysts have rated the stock with a sell recommendation and four have issued a hold recommendation on the company. The average 1 year price objective among brokerages that have covered the stock in the last year is $29.88.

A number of brokerages have issued reports on MRCY. The Goldman Sachs Group reduced their target price on Mercury Systems from $24.00 to $21.00 and set a “sell” rating on the stock in a report on Thursday, February 8th. Royal Bank of Canada reduced their target price on Mercury Systems from $35.00 to $30.00 and set a “sector perform” rating on the stock in a report on Wednesday, February 7th. Jefferies Financial Group cut Mercury Systems from a “hold” rating to an “underperform” rating and reduced their target price for the stock from $35.00 to $30.00 in a report on Wednesday, January 3rd. Finally, Truist Financial lowered Mercury Systems from a “buy” rating to a “hold” rating and dropped their price target for the stock from $48.00 to $28.00 in a research report on Wednesday, February 7th.

Mercury Systems Price Performance

Mercury Systems stock opened at $28.31 on Friday. The business’s 50-day simple moving average is $29.00 and its 200 day simple moving average is $32.71. The stock has a market cap of $1.68 billion, a price-to-earnings ratio of -19.00 and a beta of 0.70. Mercury Systems has a 12-month low of $25.31 and a 12-month high of $49.04. The company has a quick ratio of 2.79, a current ratio of 4.36 and a debt-to-equity ratio of 0.41.

Mercury Systems (NASDAQ:MRCY) last posted its quarterly earnings results on Tuesday, February 6th. The technology company reported ($0.58) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.10) by ($0.48). The firm had revenue of $197.46 million during the quarter, compared to the consensus estimate of $215.41 million. Mercury Systems had a negative net margin of 9.54% and a negative return on equity of 2.62%. As a group, research analysts anticipate that Mercury Systems will post -1.4 earnings per share for the current year.

Insider Activity at Mercury Systems

In other news, CFO David E. Farnsworth bought 3,567 shares of the company’s stock in a transaction that occurred on Friday, February 9th. The shares were acquired at an average price of $28.09 per share, with a total value of $100,197.03. Following the transaction, the chief financial officer now owns 126,618 shares in the company, valued at $3,556,699.62. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CFO David E. Farnsworth purchased 3,567 shares of the stock in a transaction on Friday, February 9th. The shares were purchased at an average price of $28.09 per share, with a total value of $100,197.03. Following the transaction, the chief financial officer now directly owns 126,618 shares of the company’s stock, valued at $3,556,699.62. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Stephanie Georges sold 1,409 shares of the business’s stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $29.57, for a total value of $41,664.13. Following the transaction, the executive vice president now directly owns 38,319 shares in the company, valued at approximately $1,133,092.83. The disclosure for this sale can be found here. In the last quarter, insiders have bought 14,133 shares of company stock valued at $398,311 and have sold 3,510 shares valued at $103,685. 1.80% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the stock. VisionPoint Advisory Group LLC boosted its stake in shares of Mercury Systems by 110.9% during the 3rd quarter. VisionPoint Advisory Group LLC now owns 715 shares of the technology company’s stock worth $27,000 after acquiring an additional 376 shares during the period. Qube Research & Technologies Ltd bought a new position in shares of Mercury Systems during the 3rd quarter worth approximately $33,000. Point72 Middle East FZE bought a new position in shares of Mercury Systems during the 4th quarter worth approximately $35,000. KBC Group NV bought a new position in shares of Mercury Systems during the 4th quarter worth approximately $35,000. Finally, Psagot Value Holdings Ltd. Israel boosted its stake in Mercury Systems by 511.5% in the 4th quarter. Psagot Value Holdings Ltd. Israel now owns 1,278 shares of the technology company’s stock valued at $47,000 after purchasing an additional 1,069 shares during the period. Institutional investors and hedge funds 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.