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

by · The Markets Daily

Mercury Systems (NASDAQ:MRCY – Get Free Report) was upgraded by equities researchers at StockNews.com from a “sell” rating to a “hold” rating in a note issued to investors on Saturday.

A number of other brokerages have also recently issued reports on MRCY. Royal Bank of Canada upped their target price 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. Robert W. Baird upped their price target on shares of Mercury Systems from $26.00 to $37.00 and gave the company a “neutral” rating in a report on Wednesday, August 14th. Alembic Global Advisors raised Mercury Systems from a “neutral” rating to an “overweight” rating and set a $48.00 price target 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 stock a “hold” rating in a research report on Wednesday, August 14th. Finally, JPMorgan Chase & Co. raised their target price on Mercury Systems from $26.00 to $36.00 and gave the company a “neutral” rating in a report on Thursday, September 5th. Three analysts have rated the stock with a sell rating, five have assigned a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Mercury Systems has an average rating of “Hold” and an average target price of $33.50.

Check Out Our Latest Report on Mercury Systems

Mercury Systems Stock Performance

Shares of MRCY opened at $37.35 on Friday. The firm has a market cap of $2.22 billion, a price-to-earnings ratio of -15.89 and a beta of 0.70. The company’s fifty day moving average is $36.65 and its 200-day moving average is $32.15. The company has a quick ratio of 2.64, a current ratio of 4.07 and a debt-to-equity ratio of 0.40. Mercury Systems has a 12 month low of $25.31 and a 12 month high of $42.72.

Mercury Systems (NASDAQ:MRCY – Get Free Report) last posted 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 net margin of 16.48% and a negative return on equity of 4.92%. The firm had revenue of $248.56 million for the quarter, compared to the consensus estimate of $223.80 million. Equities analysts expect that Mercury Systems will post -0.52 EPS for the current fiscal year.

Insider Buying and Selling at Mercury Systems

In other news, Director Debora A. Plunkett sold 1,843 shares of Mercury Systems stock in a transaction that occurred on Friday, August 30th. The stock was 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 of the company’s stock, valued at approximately $431,675.73. This trade represents a 0.00 % decrease in their position. 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 dated Friday, August 30th. The shares were sold at an average price of $38.07, for a total value of $70,163.01. Following the completion of the transaction, the director now owns 11,339 shares of the company’s stock, valued at $431,675.73. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Jana Partners Management, Lp acquired 13,600 shares of the firm’s stock in a transaction on Tuesday, August 27th. The shares were bought at an average cost of $37.25 per share, for a total transaction of $506,600.00. Following the completion of the acquisition, the director now directly owns 6,944,633 shares of the company’s stock, valued at approximately $258,687,579.25. This represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. Insiders sold a total of 22,099 shares of company stock valued at $865,740 in the last quarter. Corporate insiders own 1.80% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Westwood Holdings Group Inc. grew its holdings in shares of 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 worth $45,848,000 after purchasing an additional 199,600 shares during the last quarter. Roubaix Capital LLC acquired a new stake in shares of Mercury Systems during the second quarter worth approximately $3,684,000. Jane Street Group LLC increased its holdings 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 in the last quarter. Staley Capital Advisers Inc. raised its stake in shares of Mercury Systems by 37.6% in the first quarter. Staley Capital Advisers Inc. now owns 449,360 shares of the technology company’s stock valued at $13,256,000 after acquiring an additional 122,829 shares during the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund acquired a new position in shares of Mercury Systems in the 2nd quarter worth approximately $3,079,000. 95.99% of the stock is currently owned by institutional investors and hedge funds.

About Mercury Systems

(Get Free Report)

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.

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