Mercury Systems (NASDAQ:MRCY) Given New $60.00 Price Target at Truist Financial

Mercury Systems (NASDAQ:MRCY) had its target price upped by Truist Financial from $56.00 to $60.00 in a report published on Monday,Benzinga reports. They currently have a buy rating on the technology company’s stock.

A number of other brokerages also recently weighed in on MRCY. Royal Bank of Canada boosted their price objective on shares of Mercury Systems from $48.00 to $50.00 and gave the company a “sector perform” rating in a research report on Wednesday, May 7th. The Goldman Sachs Group boosted their price objective on shares of Mercury Systems from $30.00 to $33.00 and gave the company a “sell” rating in a research report on Monday, May 12th. Baird R W raised shares of Mercury Systems from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, February 5th. Finally, Robert W. Baird raised shares of Mercury Systems from a “neutral” rating to an “outperform” rating and boosted their price objective for the company from $37.00 to $58.00 in a research report on Wednesday, February 5th. One research analyst has rated the stock with a sell rating, four have given a hold rating, three have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Mercury Systems has an average rating of “Hold” and a consensus target price of $47.29.

Mercury Systems Stock Performance

Mercury Systems stock opened at $50.36 on Monday. Mercury Systems has a 12-month low of $26.48 and a 12-month high of $52.25. The company has a market capitalization of $3.01 billion, a price-to-earnings ratio of -32.28 and a beta of 0.70. The company has a debt-to-equity ratio of 0.41, a current ratio of 3.62 and a quick ratio of 2.36. The firm’s fifty day moving average price is $46.93 and its 200 day moving average price is $44.01.

Mercury Systems (NASDAQ:MRCY) last released its quarterly earnings results on Tuesday, May 6th. The technology company reported $0.06 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.06. The firm had revenue of $211.36 million for the quarter, compared to the consensus estimate of $204.25 million. Mercury Systems had a negative net margin of 10.23% and a negative return on equity of 2.03%. The firm’s quarterly revenue was up 1.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.26) EPS. On average, research analysts forecast that Mercury Systems will post -0.08 EPS for the current fiscal year.

Insider Activity at Mercury Systems

In other Mercury Systems news, Director Jana Partners Management, Lp sold 88,152 shares of the company’s stock in a transaction that occurred on Thursday, May 8th. The shares were sold at an average price of $46.27, for a total value of $4,078,793.04. Following the transaction, the director now owns 6,861,313 shares in the company, valued at approximately $317,472,952.51. This represents a 1.27% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Steven Ratner sold 3,892 shares of the company’s stock in a transaction that occurred on Thursday, May 8th. The shares were sold at an average price of $47.70, for a total transaction of $185,648.40. Following the completion of the transaction, the executive vice president now owns 56,187 shares in the company, valued at approximately $2,680,119.90. This represents a 6.48% decrease in their position. The disclosure for this sale can be found here. Company insiders own 1.60% of the company’s stock.

Institutional Investors Weigh In On Mercury Systems

Large investors have recently bought and sold shares of the business. Neo Ivy Capital Management bought a new stake in Mercury Systems in the fourth quarter worth $33,000. GAMMA Investing LLC boosted its holdings in Mercury Systems by 59.6% in the first quarter. GAMMA Investing LLC now owns 1,058 shares of the technology company’s stock worth $46,000 after purchasing an additional 395 shares in the last quarter. Fifth Third Bancorp boosted its holdings in Mercury Systems by 53.8% in the first quarter. Fifth Third Bancorp now owns 1,290 shares of the technology company’s stock worth $56,000 after purchasing an additional 451 shares in the last quarter. Sterling Capital Management LLC grew its stake in Mercury Systems by 762.6% in the 4th quarter. Sterling Capital Management LLC now owns 1,639 shares of the technology company’s stock valued at $69,000 after buying an additional 1,449 shares during the last quarter. Finally, Nkcfo LLC acquired a new position in Mercury Systems in the 1st quarter valued at $72,000. 95.99% of the stock is currently owned by 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.