Mercury Systems (NASDAQ:MRCY) Upgraded at Zacks Research

Zacks Research upgraded shares of Mercury Systems (NASDAQ:MRCY) from a strong sell rating to a strong-buy rating in a research note published on Thursday,Zacks.com reports.

MRCY has been the subject of several other reports. The Goldman Sachs Group upped their price objective on Mercury Systems from $35.00 to $39.00 and gave the company a “sell” rating in a research note on Wednesday, August 13th. Robert W. Baird upped their price objective on Mercury Systems from $58.00 to $70.00 and gave the company an “outperform” rating in a research note on Tuesday, August 12th. Truist Financial upped their price objective on Mercury Systems from $60.00 to $71.00 and gave the company a “buy” rating in a research note on Tuesday, August 12th. Royal Bank Of Canada raised their price target on Mercury Systems from $50.00 to $55.00 and gave the company a “sector perform” rating in a report on Thursday, July 3rd. Finally, JPMorgan Chase & Co. raised their price target on Mercury Systems from $56.00 to $68.00 and gave the company a “neutral” rating in a report on Tuesday, August 12th. Three investment analysts have rated the stock with a Strong Buy rating, two have given a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $60.71.

Mercury Systems Stock Up 1.8%

MRCY opened at $66.83 on Thursday. The business has a 50 day moving average price of $54.55 and a two-hundred day moving average price of $49.37. The company has a quick ratio of 2.41, a current ratio of 3.52 and a debt-to-equity ratio of 0.40. The company has a market cap of $4.00 billion, a PE ratio of -101.26, a P/E/G ratio of 3.00 and a beta of 0.72. Mercury Systems has a 52 week low of $32.32 and a 52 week high of $69.95.

Mercury Systems (NASDAQ:MRCY) last posted its quarterly earnings data on Monday, August 11th. The technology company reported $0.47 EPS for the quarter, beating the consensus estimate of $0.21 by $0.26. The firm had revenue of $273.11 million during the quarter, compared to the consensus estimate 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 revenue was up 9.9% compared to the same quarter last year. During the same period in the prior year, the business earned $0.23 EPS. As a group, research analysts anticipate that Mercury Systems will post -0.08 EPS for the current year.

Insider Transactions at Mercury Systems

In related news, Director Jana Partners Management, Lp sold 797,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 13th. The stock was sold at an average price of $65.42, for a total value of $52,139,740.00. Following the completion of the transaction, the director directly owned 5,964,313 shares of the company’s stock, valued at $390,185,356.46. This trade represents a 11.79% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, 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 transaction, the executive vice president directly owned 35,174 shares of the company’s stock, valued at $1,881,105.52. The trade was a 4.97% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 843,752 shares of company stock worth $55,176,359 over the last ninety days. 1.60% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Mercury Systems

Several hedge funds have recently bought and sold shares of the company. Brevan Howard Capital Management LP increased its stake in Mercury Systems by 0.9% in the 2nd quarter. Brevan Howard Capital Management LP now owns 22,861 shares of the technology company’s stock valued at $1,231,000 after purchasing an additional 211 shares in the last quarter. Cerity Partners LLC increased its stake in Mercury Systems by 0.4% in the 2nd quarter. Cerity Partners LLC now owns 57,552 shares of the technology company’s stock valued at $3,100,000 after purchasing an additional 218 shares in the last quarter. EverSource Wealth Advisors LLC increased its stake in Mercury Systems by 33.7% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 929 shares of the technology company’s stock valued at $50,000 after purchasing an additional 234 shares in the last quarter. GAMMA Investing LLC increased its stake in 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 purchasing an additional 264 shares in the last quarter. Finally, Quantinno Capital Management LP increased its stake in Mercury Systems by 0.7% in the 2nd quarter. Quantinno Capital Management LP now owns 38,493 shares of the technology company’s stock valued at $2,073,000 after purchasing an additional 285 shares in the last quarter. 95.99% of the stock is owned by hedge funds and other 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.