Mercury Systems (NASDAQ:MRCY) Upgraded to Hold at StockNews.com

StockNews.com upgraded shares of Mercury Systems (NASDAQ:MRCY) from a sell rating to a hold rating in a report published on Wednesday morning.

MRCY has been the topic of several other reports. Royal Bank of Canada lifted their price target on Mercury Systems from $30.00 to $35.00 and gave the stock a sector perform rating in a research report on Wednesday, August 14th. JPMorgan Chase & Co. boosted their price objective on Mercury Systems from $26.00 to $36.00 and gave the company a neutral rating in a research report on Thursday, September 5th. Alembic Global Advisors upgraded Mercury Systems from a neutral rating to an overweight rating and set a $48.00 price objective on the stock in a research report on Monday, August 19th. Truist Financial boosted their price objective on Mercury Systems from $26.00 to $31.00 and gave the company a hold rating in a research report on Wednesday, August 14th. Finally, Robert W. Baird boosted their price objective on Mercury Systems from $26.00 to $37.00 and gave the company a neutral rating in a research report on Wednesday, August 14th. Three research analysts have rated the stock with a sell rating, five have issued a hold rating and one has assigned a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of Hold and a consensus target price of $33.50.

Mercury Systems Stock Performance

Shares of NASDAQ MRCY opened at $38.02 on Wednesday. The company has a quick ratio of 2.64, a current ratio of 4.07 and a debt-to-equity ratio of 0.40. The business’s 50 day moving average is $35.45 and its two-hundred day moving average is $31.36. The company has a market cap of $2.26 billion, a P/E ratio of -16.18 and a beta of 0.69. Mercury Systems has a 12 month low of $25.31 and a 12 month high of $42.72.

Mercury Systems (NASDAQ:MRCY) last issued its quarterly earnings results on Tuesday, August 13th. The technology company reported $0.09 EPS for the quarter, topping the consensus estimate of ($0.23) by $0.32. The company had revenue of $248.56 million for the quarter, compared to the consensus estimate of $223.80 million. Mercury Systems had a negative return on equity of 4.92% and a negative net margin of 16.48%. On average, equities analysts expect that Mercury Systems will post -0.52 EPS for the current year.

Insider Activity at Mercury Systems

In related news, COO Charles Roger Iv Wells sold 1,346 shares of the business’s stock in a transaction on Monday, August 19th. The stock was sold at an average price of $39.49, for a total value of $53,153.54. Following the sale, the chief operating officer now owns 130,408 shares of the company’s stock, valued at approximately $5,149,811.92. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other Mercury Systems news, Director Jana Partners Management, Lp acquired 13,600 shares of Mercury Systems stock in a transaction on Tuesday, August 27th. The shares were bought at an average price of $37.25 per share, with a total value of $506,600.00. Following the completion of the purchase, the director now owns 6,944,633 shares in the company, valued at $258,687,579.25. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, COO Charles Roger Iv Wells sold 1,346 shares of the business’s stock in a transaction on Monday, August 19th. The stock was sold at an average price of $39.49, for a total value of $53,153.54. Following the completion of the transaction, the chief operating officer now directly owns 130,408 shares in the company, valued at approximately $5,149,811.92. The disclosure for this sale can be found here. Insiders have sold a total of 22,030 shares of company stock valued at $863,145 in the last 90 days. 1.80% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Mercury Systems

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Louisiana State Employees Retirement System boosted its stake in Mercury Systems by 1.5% in the second quarter. Louisiana State Employees Retirement System now owns 26,300 shares of the technology company’s stock worth $710,000 after purchasing an additional 400 shares in the last quarter. Illinois Municipal Retirement Fund lifted its stake in shares of Mercury Systems by 1.5% during the first quarter. Illinois Municipal Retirement Fund now owns 29,782 shares of the technology company’s stock valued at $879,000 after acquiring an additional 450 shares during the period. Texas Permanent School Fund Corp lifted its stake in shares of Mercury Systems by 1.1% during the first quarter. Texas Permanent School Fund Corp now owns 45,577 shares of the technology company’s stock valued at $1,345,000 after acquiring an additional 514 shares during the period. Iridian Asset Management LLC CT lifted its stake in shares of Mercury Systems by 11.4% during the second quarter. Iridian Asset Management LLC CT now owns 9,464 shares of the technology company’s stock valued at $255,000 after acquiring an additional 972 shares during the period. Finally, Gabelli Funds LLC lifted its stake in shares of Mercury Systems by 8.4% during the second quarter. Gabelli Funds LLC now owns 12,859 shares of the technology company’s stock valued at $347,000 after acquiring an additional 1,000 shares during the period. Institutional investors and hedge funds own 95.99% of the company’s stock.

Mercury Systems Company Profile

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.