Mercury Systems (NASDAQ:MRCY) Price Target Raised to $70.00 at Robert W. Baird

Mercury Systems (NASDAQ:MRCY) had its price objective increased by Robert W. Baird from $58.00 to $70.00 in a research note issued to investors on Tuesday morning,Benzinga reports. The firm currently has an outperform rating on the technology company’s stock.

MRCY has been the topic of a number of other reports. Truist Financial increased their price objective on shares of Mercury Systems from $56.00 to $60.00 and gave the company a “buy” rating in a research note on Monday, June 2nd. JPMorgan Chase & Co. increased their price objective on shares of Mercury Systems from $48.00 to $56.00 and gave the company a “neutral” rating in a research note on Monday, June 16th. The Goldman Sachs Group increased their price objective on shares of Mercury Systems from $30.00 to $33.00 and gave the company a “sell” rating in a research note on Monday, May 12th. Finally, Royal Bank Of Canada increased their price objective on shares of Mercury Systems from $50.00 to $55.00 and gave the company a “sector perform” rating in a research note on Thursday, July 3rd. One analyst has rated the stock with a sell rating, four have issued a hold rating, three have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $58.38.

Mercury Systems Price Performance

Shares of MRCY stock opened at $68.02 on Tuesday. The company has a debt-to-equity ratio of 0.41, a current ratio of 3.44 and a quick ratio of 2.25. The company has a market capitalization of $4.06 billion, a P/E ratio of -103.06, a P/E/G ratio of 2.51 and a beta of 0.72. The company’s 50-day simple moving average is $52.35 and its two-hundred day simple moving average is $48.03. Mercury Systems has a one year low of $32.32 and a one year high of $68.33.

Mercury Systems (NASDAQ:MRCY) last issued its earnings results on Monday, August 11th. The technology company reported $0.47 EPS for the quarter, topping analysts’ consensus estimates of $0.21 by $0.26. The business had revenue of $273.11 million for the quarter, compared to the consensus estimate of $244.56 million. Mercury Systems had a negative net margin of 4.16% and a positive return on equity of 0.58%. The company’s revenue for the quarter was up 9.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.23 EPS. As a group, equities analysts anticipate that Mercury Systems will post -0.08 EPS for the current year.

Insiders Place Their Bets

In other Mercury Systems news, EVP Steven Ratner sold 1,839 shares of the firm’s stock in a transaction that occurred on Monday, June 16th. The shares were 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 in the company, valued at $1,881,105.52. This trade represents a 4.97% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 1.60% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Mercury Systems

Institutional investors have recently bought and sold shares of the company. Neo Ivy Capital Management purchased a new position in shares of Mercury Systems in the fourth quarter worth $33,000. Quaker Wealth Management LLC raised its holdings in shares of Mercury Systems by 200.0% in the second quarter. Quaker Wealth Management LLC now owns 644 shares of the technology company’s stock worth $35,000 after buying an additional 1,288 shares during the last quarter. GAMMA Investing LLC raised its holdings in shares of 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 buying an additional 395 shares during the last quarter. Fifth Third Bancorp raised its holdings in shares of 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 buying an additional 451 shares during the last quarter. Finally, Mark Sheptoff Financial Planning LLC purchased a new position in shares of Mercury Systems in the second quarter worth $59,000. 95.99% of the stock is currently owned by institutional investors and hedge funds.

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.