Zacks Investment Research cut shares of Mercury Systems Inc. (NASDAQ:MRCY) from a hold rating to a sell rating in a research note issued to investors on Wednesday.

According to Zacks, “Mercury Systems, Inc. is a high-tech commercial provider of secure and sensor processing subsystems designed and made in the U.S.A. powering today’s critical defense and intelligence applications. Their products and solutions have been deployed in more than 300 programs with over 25 different defense prime contractors. Key programs include Aegis, Patriot, Surface Electronic Warfare Improvement Program, Gorgon Stare, Predator, F-35 and Reaper. They operate across a broad spectrum of defense programs and deliver their solutions and services via two operating segments: Mercury Commercial Electronics and Mercury Defense Systems. “

Several other equities research analysts also recently weighed in on MRCY. Noble Financial reissued a hold rating on shares of Mercury Systems in a research report on Wednesday, August 3rd. They noted that the move was a valuation call. Jefferies Group reissued a hold rating and set a $27.00 target price (up from $22.00) on shares of Mercury Systems in a research note on Thursday, August 4th. Drexel Hamilton started coverage on shares of Mercury Systems in a research note on Thursday, August 25th. They set a buy rating for the company. Finally, Robert W. Baird initiated coverage on shares of Mercury Systems in a research note on Wednesday, October 5th. They set an outperform rating and a $30.00 target price for the company. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and six have issued a buy rating to the stock. The company presently has an average rating of Buy and an average price target of $27.50.

Analyst Recommendations for Mercury Systems (NASDAQ:MRCY)

Shares of Mercury Systems (NASDAQ:MRCY) opened at 23.47 on Wednesday. The firm has a 50-day moving average price of $23.38 and a 200-day moving average price of $22.78. Mercury Systems has a 12 month low of $15.67 and a 12 month high of $26.37. The stock has a market cap of $947.25 million, a price-to-earnings ratio of 41.91 and a beta of 0.86.

Mercury Systems (NASDAQ:MRCY) last released its quarterly earnings results on Tuesday, August 2nd. The company reported $0.29 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.14 by $0.15. Mercury Systems had a net margin of 7.31% and a return on equity of 6.47%. The firm had revenue of $85.40 million for the quarter, compared to the consensus estimate of $69.51 million. During the same quarter in the previous year, the firm posted $0.18 EPS. The firm’s quarterly revenue was up 7.3% on a year-over-year basis. Equities analysts expect that Mercury Systems will post $0.73 EPS for the current fiscal year.

In other Mercury Systems news, Director Vincent Vitto sold 8,000 shares of the company’s stock in a transaction that occurred on Friday, October 7th. The shares were sold at an average price of $24.27, for a total value of $194,160.00. Following the transaction, the director now owns 61,893 shares in the company, valued at approximately $1,502,143.11. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 4.30% of the stock is currently owned by company insiders.

A number of hedge funds have recently bought and sold shares of the company. Franklin Resources Inc. increased its stake in Mercury Systems by 349.4% in the second quarter. Franklin Resources Inc. now owns 1,344,613 shares of the company’s stock valued at $33,427,000 after buying an additional 1,045,413 shares in the last quarter. Penn Capital Management Co. Inc. increased its stake in Mercury Systems by 333.0% in the second quarter. Penn Capital Management Co. Inc. now owns 667,138 shares of the company’s stock valued at $16,718,000 after buying an additional 513,061 shares in the last quarter. Vanguard Group Inc. increased its stake in Mercury Systems by 19.0% in the second quarter. Vanguard Group Inc. now owns 3,000,642 shares of the company’s stock valued at $74,596,000 after buying an additional 479,432 shares in the last quarter. BlackRock Fund Advisors increased its stake in Mercury Systems by 22.1% in the second quarter. BlackRock Fund Advisors now owns 2,608,869 shares of the company’s stock valued at $64,856,000 after buying an additional 473,048 shares in the last quarter. Finally, Emerald Advisers Inc. PA acquired a new stake in Mercury Systems during the second quarter valued at approximately $11,170,000. 91.85% of the stock is owned by institutional investors.

About Mercury Systems

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