Brokerages Set Mercury Systems, Inc. (NASDAQ:MRCY) Target Price at $33.50

Shares of Mercury Systems, Inc. (NASDAQ:MRCY) have been given a consensus rating of “Reduce” by the eight research firms that are currently covering the stock, Marketbeat Ratings reports. Three equities research analysts have rated the stock with a sell recommendation, four have assigned a hold recommendation and one has issued a buy recommendation on the company. The average 12-month price objective among analysts that have issued ratings on the stock in the last year is $33.50.

Several brokerages have recently weighed in on MRCY. Royal Bank of Canada increased their price objective on shares of Mercury Systems from $30.00 to $35.00 and gave the company a “sector perform” rating in a research report on Wednesday, August 14th. StockNews.com cut shares of Mercury Systems from a “hold” rating to a “sell” rating in a report on Thursday. Alembic Global Advisors upgraded Mercury Systems from a “neutral” rating to an “overweight” rating and set a $48.00 price objective for the company in a report on Monday, August 19th. JPMorgan Chase & Co. increased their target price on Mercury Systems from $26.00 to $36.00 and gave the stock a “neutral” rating in a research note on Thursday, September 5th. Finally, Robert W. Baird boosted their price target on Mercury Systems from $26.00 to $37.00 and gave the company a “neutral” rating in a research note on Wednesday, August 14th.

Mercury Systems Trading Up 1.0 %

Mercury Systems stock opened at $35.90 on Monday. The stock has a 50-day simple moving average of $36.03 and a 200 day simple moving average of $31.62. The stock has a market capitalization of $2.13 billion, a P/E ratio of -15.28 and a beta of 0.69. The company has a debt-to-equity ratio of 0.40, a quick ratio of 2.64 and a current ratio of 4.07. Mercury Systems has a 52 week low of $25.31 and a 52 week high of $42.72.

Mercury Systems (NASDAQ:MRCY) last issued its 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. Mercury Systems had a negative return on equity of 4.92% and a negative net margin of 16.48%. The company had revenue of $248.56 million during the quarter, compared to the consensus estimate of $223.80 million. Analysts expect that Mercury Systems will post -0.52 earnings per share for the current year.

Insider Activity

In related news, Director Debora A. Plunkett sold 1,843 shares of the firm’s stock in a transaction on Friday, August 30th. The stock was sold at an average price of $38.07, for a total value of $70,163.01. Following the transaction, the director now owns 11,339 shares in the company, valued at $431,675.73. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Director Debora A. Plunkett sold 1,843 shares of the stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $38.07, for a total transaction of $70,163.01. Following the sale, the director now owns 11,339 shares in the company, valued at approximately $431,675.73. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Jana Partners Management, Lp acquired 13,600 shares of the stock in a transaction on Tuesday, August 27th. The shares were purchased at an average price of $37.25 per share, with a total value of $506,600.00. Following the completion of the transaction, the director now owns 6,944,633 shares of the company’s stock, valued at $258,687,579.25. The disclosure for this purchase can be found here. In the last three months, insiders sold 22,099 shares of company stock worth $865,740. 1.80% of the stock is currently owned by company insiders.

Institutional Trading of Mercury Systems

Several institutional investors and hedge funds have recently modified their holdings of MRCY. Norges Bank acquired a new position in Mercury Systems during the fourth quarter worth about $13,294,000. Dimensional Fund Advisors LP increased its position in Mercury Systems by 19.7% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,974,504 shares of the technology company’s stock worth $72,208,000 after purchasing an additional 325,549 shares in the last quarter. Westwood Holdings Group Inc. lifted its stake in Mercury Systems by 14.7% in the 1st quarter. Westwood Holdings Group Inc. now owns 1,554,166 shares of the technology company’s stock valued at $45,848,000 after purchasing an additional 199,600 shares during the last quarter. Roubaix Capital LLC acquired a new stake in Mercury Systems in the second quarter valued at approximately $3,684,000. Finally, Jane Street Group LLC grew its stake in shares of Mercury Systems by 102.6% during the first quarter. Jane Street Group LLC now owns 257,514 shares of the technology company’s stock worth $7,597,000 after buying an additional 130,396 shares during the last quarter. 95.99% of the stock is currently owned by institutional investors.

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.