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

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

A number of other research analysts also recently issued reports on MRCY. Royal Bank of Canada boosted their price target on Mercury Systems from $30.00 to $35.00 and gave the company a sector perform rating in a report on Wednesday, August 14th. JPMorgan Chase & Co. boosted their target price on shares of Mercury Systems from $26.00 to $36.00 and gave the company a neutral rating in a research note on Thursday, September 5th. Robert W. Baird raised their price target on shares of Mercury Systems from $26.00 to $37.00 and gave the company a neutral rating in a research report on Wednesday, August 14th. Truist Financial increased their target price on shares of Mercury Systems from $26.00 to $31.00 and gave the stock a hold rating in a research note on Wednesday, August 14th. Finally, Alembic Global Advisors upgraded Mercury Systems from a neutral rating to an overweight rating and set a $48.00 price target for the company in a research note on Monday, August 19th. Three research analysts have rated the stock with a sell rating, five have given a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat.com, Mercury Systems currently has an average rating of Hold and a consensus target price of $33.50.

Mercury Systems Price Performance

Shares of MRCY stock opened at $37.00 on Friday. The stock’s 50-day simple moving average is $36.39 and its 200-day simple moving average is $31.83. The firm has a market capitalization of $2.20 billion, a price-to-earnings ratio of -15.74 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 fifty-two week low of $25.31 and a fifty-two week high of $42.72.

Mercury Systems (NASDAQ:MRCY) last posted its earnings results on Tuesday, August 13th. The technology company reported $0.09 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.23) by $0.32. The company had revenue of $248.56 million during the quarter, compared to the consensus estimate of $223.80 million. Mercury Systems had a negative net margin of 16.48% and a negative return on equity of 4.92%. As a group, equities analysts forecast that Mercury Systems will post -0.52 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Debora A. Plunkett sold 1,843 shares of Mercury Systems stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $38.07, for a total value of $70,163.01. Following the sale, the director now directly owns 11,339 shares in the company, valued at approximately $431,675.73. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In related news, Director Debora A. Plunkett sold 1,843 shares of the business’s 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 completion of the sale, the director now directly 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. Also, EVP Stephanie Georges sold 1,340 shares of the firm’s stock in a transaction on Monday, August 19th. The shares were sold at an average price of $39.49, for a total value of $52,916.60. Following the completion of the transaction, the executive vice president now owns 32,259 shares in the company, valued at approximately $1,273,907.91. The disclosure for this sale can be found here. Insiders sold a total of 22,099 shares of company stock worth $865,740 in the last 90 days. Insiders own 1.80% of the company’s stock.

Hedge Funds Weigh In On Mercury Systems

Several hedge funds and other institutional investors have recently modified their holdings of MRCY. Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in shares of Mercury Systems in the second quarter valued at approximately $3,079,000. Clearline Capital LP increased its stake in shares of Mercury Systems by 18.4% in the 2nd quarter. Clearline Capital LP now owns 526,611 shares of the technology company’s stock worth $14,213,000 after acquiring an additional 81,826 shares during the last quarter. The Manufacturers Life Insurance Company increased its stake in shares of Mercury Systems by 232.7% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 29,411 shares of the technology company’s stock worth $794,000 after acquiring an additional 20,571 shares during the last quarter. Dark Forest Capital Management LP purchased a new position in shares of Mercury Systems during the 2nd quarter worth $526,000. Finally, Deerfield Management Company L.P. Series C acquired a new position in shares of Mercury Systems during the 2nd quarter valued at about $285,000. 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.