JPMorgan Chase & Co. Issues Positive Forecast for Mercury Systems (NASDAQ:MRCY) Stock Price

Mercury Systems (NASDAQ:MRCY) had its target price raised by JPMorgan Chase & Co. from $56.00 to $68.00 in a research note released on Tuesday morning,Benzinga reports. They currently have a neutral rating on the technology company’s stock.

Several other equities research analysts have also weighed in on MRCY. Truist Financial upped their target price on shares of Mercury Systems from $60.00 to $71.00 and gave the stock a “buy” rating in a report on Tuesday. Robert W. Baird upped their price target on shares of Mercury Systems from $58.00 to $70.00 and gave the stock an “outperform” rating in a research report on Tuesday. The Goldman Sachs Group upped their price target on shares of Mercury Systems from $30.00 to $33.00 and gave the stock a “sell” rating in a research report on Monday, May 12th. Raymond James Financial upgraded shares of Mercury Systems from an “outperform” rating to a “strong-buy” rating and upped their price target for the stock from $55.00 to $80.00 in a research report on Tuesday. Finally, Royal Bank Of Canada upped their price target on shares of Mercury Systems from $50.00 to $55.00 and gave the stock a “sector perform” rating in a research report on Thursday, July 3rd. One investment analyst has rated the stock with a sell rating, four have given a hold rating, three have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $58.38.

Mercury Systems Stock Up 27.0%

MRCY opened at $68.02 on Tuesday. The firm’s 50-day simple moving average is $52.35 and its 200-day simple moving average is $48.03. The company has a debt-to-equity ratio of 0.41, a quick ratio of 2.25 and a current ratio of 3.44. Mercury Systems has a twelve month low of $32.32 and a twelve month high of $68.33. The firm has a market cap of $4.06 billion, a price-to-earnings ratio of -103.06, a PEG ratio of 2.51 and a beta of 0.72.

Mercury Systems (NASDAQ:MRCY) last posted its earnings results on Monday, August 11th. The technology company reported $0.47 earnings per share for the quarter, topping 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 business had revenue of $273.11 million for the quarter, compared to analyst estimates of $244.56 million. During the same quarter in the prior year, the firm earned $0.23 EPS. The firm’s quarterly revenue was up 9.9% compared to the same quarter last year. Equities research analysts anticipate that Mercury Systems will post -0.08 EPS for the current fiscal year.

Insider Transactions at Mercury Systems

In other news, EVP Steven Ratner sold 1,839 shares of the company’s stock in a transaction dated Monday, June 16th. The stock was sold at an average price of $53.48, for a total value of $98,349.72. Following the completion of the sale, the executive vice president directly owned 35,174 shares of the company’s stock, valued at $1,881,105.52. This represents a 4.97% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 1.60% of the company’s stock.

Institutional Trading of Mercury Systems

A number of institutional investors and hedge funds have recently modified their holdings of the stock. GAMMA Investing LLC increased its stake in shares of Mercury Systems by 25.0% in the 2nd quarter. GAMMA Investing LLC now owns 1,322 shares of the technology company’s stock valued at $71,000 after acquiring an additional 264 shares during the last quarter. Teacher Retirement System of Texas increased its stake in shares of Mercury Systems by 4.0% in the 2nd quarter. Teacher Retirement System of Texas now owns 7,703 shares of the technology company’s stock valued at $415,000 after acquiring an additional 294 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. increased its stake in shares of Mercury Systems by 4.0% in the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 11,763 shares of the technology company’s stock valued at $507,000 after acquiring an additional 449 shares during the last quarter. Fifth Third Bancorp increased its stake in shares of Mercury Systems by 53.8% in the 1st quarter. Fifth Third Bancorp now owns 1,290 shares of the technology company’s stock valued at $56,000 after acquiring an additional 451 shares during the last quarter. Finally, KLP Kapitalforvaltning AS increased its stake in Mercury Systems by 4.7% during the 2nd quarter. KLP Kapitalforvaltning AS now owns 11,100 shares of the technology company’s stock worth $598,000 after purchasing an additional 500 shares in the last quarter. 95.99% of the stock is 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.