Mercury Systems Inc. (MRCY) Given Consensus Recommendation of “Buy” by Brokerages
Shares of Mercury Systems Inc. (NASDAQ:MRCY) have been given a consensus rating of “Buy” by the ten brokerages that are covering the firm. One analyst has rated the stock with a sell rating, three have given a hold rating and six have issued a buy rating on the company. The average twelve-month price objective among analysts that have updated their coverage on the stock in the last year is $28.00.
MRCY has been the subject of several research reports. Drexel Hamilton initiated coverage on Mercury Systems in a research note on Thursday, August 25th. They set a “buy” rating for the company. Jefferies Group reissued a “hold” rating and set a $27.00 price objective (up from $22.00) on shares of Mercury Systems in a research note on Thursday, August 4th. Noble Financial restated a “hold” rating on shares of Mercury Systems in a report on Wednesday, August 3rd. They noted that the move was a valuation call. Zacks Investment Research lowered Mercury Systems from a “strong-buy” rating to a “hold” rating in a report on Tuesday, July 19th. Finally, Robert W. Baird assumed coverage on Mercury Systems in a report on Wednesday, October 5th. They issued an “outperform” rating and a $30.00 target price for the company.
In related news, Director Vincent Vitto sold 8,000 shares of the stock in a transaction on Friday, October 7th. The stock was sold at an average price of $24.27, for a total transaction of $194,160.00. Following the completion of the sale, the director now directly owns 61,893 shares in the company, valued at $1,502,143.11. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Corporate insiders own 4.30% of the company’s stock.
Several hedge funds have recently made changes to their positions in the company. Renaissance Technologies LLC raised its stake in shares of Mercury Systems by 26.5% in the first quarter. Renaissance Technologies LLC now owns 955,635 shares of the company’s stock valued at $19,399,000 after buying an additional 200,190 shares in the last quarter. Kennedy Capital Management Inc. raised its position in Mercury Systems by 3.9% in the first quarter. Kennedy Capital Management Inc. now owns 612,395 shares of the company’s stock valued at $12,432,000 after buying an additional 22,832 shares during the period. Hancock Holding Co. raised its position in Mercury Systems by 1.1% in the first quarter. Hancock Holding Co. now owns 57,344 shares of the company’s stock valued at $1,164,000 after buying an additional 621 shares during the period. Adirondack Research & Management Inc. bought a new position in Mercury Systems during the first quarter valued at $584,000. Finally, Goldman Sachs Group Inc. raised its position in Mercury Systems by 66.1% in the first quarter. Goldman Sachs Group Inc. now owns 59,230 shares of the company’s stock valued at $1,203,000 after buying an additional 23,576 shares during the period. Institutional investors and hedge funds own 91.83% of the company’s stock.
Shares of Mercury Systems (NASDAQ:MRCY) traded up 1.58% during trading on Monday, reaching $23.73. The company had a trading volume of 80,299 shares. Mercury Systems has a 52 week low of $15.67 and a 52 week high of $26.37. The firm has a 50-day moving average of $23.36 and a 200 day moving average of $22.81. The firm has a market capitalization of $957.74 million, a price-to-earnings ratio of 42.38 and a beta of 0.86.
Mercury Systems (NASDAQ:MRCY) last released its quarterly earnings data on Tuesday, August 2nd. The company reported $0.29 earnings per share for the quarter, topping the consensus estimate of $0.14 by $0.15. The business earned $85.40 million during the quarter, compared to analyst estimates of $69.51 million. Mercury Systems had a return on equity of 6.47% and a net margin of 7.31%. The company’s revenue was up 7.3% compared to the same quarter last year. During the same period last year, the company posted $0.18 EPS. On average, equities research analysts forecast that Mercury Systems will post $0.73 earnings per share for the current year.
Mercury Systems Company Profile
Mercury Systems, Inc is a commercial provider of secure processing subsystems designed and made in the United States. The Company’s solutions support a range of defense and intelligence programs. The Company’s technologies include embedded processing modules and subsystems, radio frequency (RF) and microwave multi-function assemblies, as well as subsystems, and RF and microwave components.
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