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

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. “

MRCY has been the topic of several other research reports. Citigroup Inc. upped their price objective on Mercury Systems to $48.00 and gave the company a buy rating in a research note on Monday, March 20th. Jefferies Group LLC restated a hold rating and set a $30.00 price objective on shares of Mercury Systems in a research note on Monday, March 27th. Noble Financial restated a hold rating on shares of Mercury Systems in a research note on Thursday, April 20th. Finally, J P Morgan Chase & Co initiated coverage on Mercury Systems in a research note on Thursday, March 9th. They set an overweight rating and a $48.00 price objective on the stock. Two investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. The company presently has an average rating of Buy and an average target price of $42.17.

Analyst Recommendations for Mercury Systems (NASDAQ:MRCY)

Mercury Systems (NASDAQ MRCY) opened at 41.57 on Wednesday. The company’s 50-day moving average price is $39.38 and its 200-day moving average price is $36.32. Mercury Systems has a 1-year low of $21.52 and a 1-year high of $41.89. The stock has a market cap of $2.00 billion, a P/E ratio of 71.80 and a beta of 0.42.

Mercury Systems (NASDAQ:MRCY) last announced its quarterly earnings data on Tuesday, April 25th. The technology company reported $0.16 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.14 by $0.02. Mercury Systems had a return on equity of 4.58% and a net margin of 6.48%. The firm had revenue of $107.30 million for the quarter, compared to analysts’ expectations of $105.54 million. During the same quarter in the prior year, the firm posted $0.25 earnings per share. Mercury Systems’s revenue for the quarter was up 62.8% compared to the same quarter last year. Analysts predict that Mercury Systems will post $1.10 EPS for the current year.

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In other news, insider Mark Aslett sold 9,600 shares of the stock in a transaction that occurred on Friday, May 5th. The stock was sold at an average price of $39.92, for a total transaction of $383,232.00. Following the sale, the insider now directly owns 567,049 shares in the company, valued at approximately $22,636,596.08. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Didier M. C. Thibaud sold 30,000 shares of the stock in a transaction that occurred on Monday, May 8th. The stock was sold at an average price of $40.41, for a total value of $1,212,300.00. Following the sale, the chief operating officer now owns 418,694 shares in the company, valued at $16,919,424.54. The disclosure for this sale can be found here. Insiders have sold a total of 68,200 shares of company stock worth $2,719,188 over the last quarter. Insiders own 4.30% of the company’s stock.

Several hedge funds have recently made changes to their positions in MRCY. Thrivent Financial for Lutherans boosted its stake in shares of Mercury Systems by 8.6% in the fourth quarter. Thrivent Financial for Lutherans now owns 22,400 shares of the technology company’s stock worth $677,000 after buying an additional 1,770 shares during the last quarter. Castleark Management LLC acquired a new position in shares of Mercury Systems during the fourth quarter worth about $10,240,000. Teachers Retirement System of The State of Kentucky raised its position in shares of Mercury Systems by 39.8% in the fourth quarter. Teachers Retirement System of The State of Kentucky now owns 11,600 shares of the technology company’s stock worth $351,000 after buying an additional 3,300 shares during the period. Guggenheim Capital LLC acquired a new position in shares of Mercury Systems during the fourth quarter worth about $2,219,000. Finally, Two Sigma Investments LP acquired a new position in shares of Mercury Systems during the fourth quarter worth about $583,000. Institutional investors and hedge funds own 99.50% of the company’s stock.

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. Its 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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