Mercury Systems (NASDAQ:MRCY) Price Target Raised to $71.00 at Truist Financial

Mercury Systems (NASDAQ:MRCY) had its price target upped by Truist Financial from $60.00 to $71.00 in a research note published on Tuesday,Benzinga reports. They currently have a buy rating on the technology company’s stock.

Several other equities analysts have also issued reports on MRCY. The Goldman Sachs Group boosted their price target on Mercury Systems from $30.00 to $33.00 and gave the company a “sell” rating in a research note on Monday, May 12th. JPMorgan Chase & Co. boosted their price target on Mercury Systems from $48.00 to $56.00 and gave the company a “neutral” rating in a research note on Monday, June 16th. Royal Bank Of Canada boosted their price target on Mercury Systems from $50.00 to $55.00 and gave the company a “sector perform” rating in a research note on Thursday, July 3rd. Robert W. Baird boosted their price target on Mercury Systems from $58.00 to $70.00 and gave the company an “outperform” rating in a research note on Tuesday. Finally, Raymond James Financial raised Mercury Systems from an “outperform” rating to a “strong-buy” rating and boosted their price target for the company from $55.00 to $80.00 in a research note on Tuesday. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, three have given a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $58.38.

Mercury Systems Price Performance

Mercury Systems stock opened at $68.02 on Tuesday. The stock’s 50 day moving average is $52.35 and its 200 day moving average is $48.03. 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 firm has a market cap 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. Mercury Systems has a one year low of $32.32 and a one year high of $68.33.

Mercury Systems (NASDAQ:MRCY) last posted its quarterly earnings data 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 company had revenue of $273.11 million for the quarter, compared to analyst estimates of $244.56 million. Mercury Systems had a positive return on equity of 0.58% and a negative net margin of 4.16%. The firm’s quarterly revenue was up 9.9% on a year-over-year basis. During the same period in the previous year, the firm earned $0.23 earnings per share. As a group, research analysts expect that Mercury Systems will post -0.08 EPS for the current year.

Insider Activity at Mercury Systems

In other news, EVP Steven Ratner sold 1,839 shares of the business’s stock in a transaction that occurred on Monday, June 16th. The stock was sold at an average price of $53.48, for a total transaction of $98,349.72. Following the completion of the sale, the executive vice president owned 35,174 shares in the company, valued at $1,881,105.52. The trade was a 4.97% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 1.60% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Mercury Systems

Hedge funds and other institutional investors have recently modified their holdings of the company. Sterling Capital Management LLC grew its holdings in Mercury Systems by 762.6% during the fourth quarter. Sterling Capital Management LLC now owns 1,639 shares of the technology company’s stock worth $69,000 after buying an additional 1,449 shares in the last quarter. Principal Financial Group Inc. grew its holdings in Mercury Systems by 11.8% during the first quarter. Principal Financial Group Inc. now owns 274,954 shares of the technology company’s stock worth $11,848,000 after buying an additional 29,074 shares in the last quarter. Wealth Enhancement Advisory Services LLC bought a new stake in Mercury Systems during the fourth quarter worth $241,000. Calamos Advisors LLC bought a new stake in Mercury Systems during the first quarter worth $848,000. Finally, GAMMA Investing LLC grew its holdings in Mercury Systems by 6,776.2% during the first quarter. GAMMA Investing LLC now owns 45,589 shares of the technology company’s stock worth $1,964,000 after buying an additional 44,926 shares in the last quarter. Institutional investors own 95.99% of the company’s stock.

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.