Zacks Investment Research upgraded shares of Mercury Systems (NASDAQ:MRCY) from a hold rating to a buy rating in a research note published on Tuesday morning. They currently have $54.00 price target on the technology company’s stock.
According to Zacks, “Mercury Systems, Inc. is a commercial provider of secure sensor and mission processing subsystems for defense and intelligence programs. The Company’s products and solutions are deployed in more than 300 programs with over 25 different defense prime contractors. “
A number of other research firms have also recently weighed in on MRCY. BidaskClub raised shares of Mercury Systems from a hold rating to a buy rating in a research note on Tuesday, September 11th. Canaccord Genuity began coverage on shares of Mercury Systems in a research note on Thursday, October 4th. They issued a buy rating and a $64.00 target price on the stock. ValuEngine raised shares of Mercury Systems from a hold rating to a buy rating in a research note on Thursday, August 30th. Finally, Drexel Hamilton set a $58.00 target price on shares of Mercury Systems and gave the company a buy rating in a research note on Wednesday, October 31st. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and six have given a buy rating to the company. The company has a consensus rating of Buy and a consensus target price of $53.86.
Shares of NASDAQ:MRCY traded up $0.42 on Tuesday, hitting $48.97. 1,643 shares of the company were exchanged, compared to its average volume of 429,166. Mercury Systems has a one year low of $30.11 and a one year high of $57.26. The company has a debt-to-equity ratio of 0.31, a quick ratio of 2.94 and a current ratio of 4.40. The company has a market cap of $2.32 billion, a price-to-earnings ratio of 42.88, a PEG ratio of 3.19 and a beta of 0.85.
Mercury Systems (NASDAQ:MRCY) last posted its earnings results on Tuesday, October 30th. The technology company reported $0.39 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.35 by $0.04. The business had revenue of $144.10 million for the quarter, compared to analysts’ expectations of $139.12 million. Mercury Systems had a net margin of 5.72% and a return on equity of 6.97%. The firm’s revenue for the quarter was up 35.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.37 earnings per share. Equities analysts predict that Mercury Systems will post 1.41 EPS for the current year.
In related news, insider Mark Aslett sold 10,000 shares of the company’s stock in a transaction dated Wednesday, October 31st. The shares were sold at an average price of $45.81, for a total value of $458,100.00. Following the sale, the insider now owns 407,440 shares of the company’s stock, valued at $18,664,826.40. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, COO Didier M. C. Thibaud sold 3,500 shares of the company’s stock in a transaction dated Tuesday, September 4th. The shares were sold at an average price of $54.23, for a total transaction of $189,805.00. Following the completion of the sale, the chief operating officer now directly owns 318,525 shares in the company, valued at approximately $17,273,610.75. The disclosure for this sale can be found here. In the last three months, insiders sold 55,200 shares of company stock worth $2,920,742. 2.80% of the stock is currently owned by insiders.
A number of large investors have recently added to or reduced their stakes in the business. Capital Management Associates NY acquired a new position in Mercury Systems in the third quarter valued at about $387,000. Los Angeles Capital Management & Equity Research Inc. boosted its position in Mercury Systems by 15.2% in the third quarter. Los Angeles Capital Management & Equity Research Inc. now owns 30,487 shares of the technology company’s stock valued at $1,687,000 after buying an additional 4,030 shares in the last quarter. EULAV Asset Management boosted its position in Mercury Systems by 16.2% in the third quarter. EULAV Asset Management now owns 32,300 shares of the technology company’s stock valued at $1,787,000 after buying an additional 4,500 shares in the last quarter. Congress Asset Management Co. MA boosted its position in Mercury Systems by 5.9% in the third quarter. Congress Asset Management Co. MA now owns 73,106 shares of the technology company’s stock valued at $4,044,000 after buying an additional 4,089 shares in the last quarter. Finally, Russell Investments Group Ltd. boosted its position in Mercury Systems by 186.1% in the third quarter. Russell Investments Group Ltd. now owns 66,209 shares of the technology company’s stock valued at $3,662,000 after buying an additional 43,071 shares in the last quarter. Hedge funds and other institutional investors own 96.81% of the company’s stock.
About Mercury Systems
Mercury Systems, Inc provides sensor and safety critical mission processing subsystems for various critical defense and intelligence programs in the United States. Its products and solutions are deployed in approximately 300 programs with 25 defense contractors. The company's principal programs include Aegis, Patriot, Surface Electronic Warfare Improvement Program, Gorgon Stare, Predator, F-35, Reaper, F-16 SABR, E2D Hawkeye, Paveway, Filthy Buzzard, PGK, ProVision, P1, and AIDEWS.
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