Zacks Investment Research Upgrades Mercury Systems Inc (MRCY) to “Hold”
Mercury Systems Inc (NASDAQ:MRCY) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a note issued to investors 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. “
A number of other research firms also recently weighed in on MRCY. SunTrust Banks, Inc. restated a “buy” rating and issued a $51.00 target price on shares of Mercury Systems in a research report on Monday. Jefferies Group LLC restated a “hold” rating and issued a $45.00 target price on shares of Mercury Systems in a research report on Wednesday, August 2nd. Noble Financial restated a “hold” rating on shares of Mercury Systems in a research report on Thursday, August 3rd. Finally, BidaskClub upgraded Mercury Systems from a “buy” rating to a “strong-buy” rating in a research report on Saturday, June 24th. Three equities research analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus target price of $45.50.
Mercury Systems (NASDAQ MRCY) traded down 0.925% during trading on Wednesday, reaching $53.025. The company had a trading volume of 196,330 shares. The company has a 50-day moving average of $48.56 and a 200-day moving average of $42.73. The firm has a market capitalization of $2.55 billion, a P/E ratio of 91.422 and a beta of 0.41. Mercury Systems has a 52-week low of $22.31 and a 52-week high of $53.54.
Mercury Systems (NASDAQ:MRCY) last released its earnings results on Tuesday, August 1st. The technology company reported $0.32 earnings per share for the quarter, topping analysts’ consensus estimates of $0.24 by $0.08. The firm had revenue of $115.60 million during the quarter, compared to the consensus estimate of $115.11 million. Mercury Systems had a return on equity of 4.87% and a net margin of 6.09%. The firm’s revenue for the quarter was up 35.3% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.23 earnings per share. Analysts expect that Mercury Systems will post $1.24 EPS for the current fiscal year.
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In other Mercury Systems news, CFO Gerald M. Haines II sold 2,500 shares of the business’s stock in a transaction on Monday, October 2nd. The shares were sold at an average price of $51.94, for a total transaction of $129,850.00. Following the sale, the chief financial officer now directly owns 220,760 shares of the company’s stock, valued at approximately $11,466,274.40. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, VP Charles A. Speicher sold 7,000 shares of the business’s stock in a transaction on Monday, August 7th. The shares were sold at an average price of $44.09, for a total transaction of $308,630.00. Following the sale, the vice president now directly owns 36,983 shares in the company, valued at $1,630,580.47. The disclosure for this sale can be found here. Insiders sold 23,900 shares of company stock worth $1,120,368 in the last ninety days. 3.50% of the stock is owned by corporate insiders.
A number of large investors have recently made changes to their positions in the business. BlackRock Inc. raised its stake in Mercury Systems by 242,823.0% during the 1st quarter. BlackRock Inc. now owns 6,646,372 shares of the technology company’s stock valued at $259,540,000 after purchasing an additional 6,643,636 shares during the period. Vanguard Group Inc. raised its stake in Mercury Systems by 4.6% during the 2nd quarter. Vanguard Group Inc. now owns 4,118,060 shares of the technology company’s stock valued at $173,329,000 after purchasing an additional 180,028 shares during the period. Wells Fargo & Company MN raised its stake in Mercury Systems by 323.5% during the 2nd quarter. Wells Fargo & Company MN now owns 2,230,421 shares of the technology company’s stock valued at $93,878,000 after purchasing an additional 1,703,774 shares during the period. State Street Corp raised its stake in Mercury Systems by 13.2% during the 2nd quarter. State Street Corp now owns 1,684,565 shares of the technology company’s stock valued at $70,906,000 after purchasing an additional 196,075 shares during the period. Finally, Goldman Sachs Group Inc. raised its stake in Mercury Systems by 5.1% during the 2nd quarter. Goldman Sachs Group Inc. now owns 1,293,723 shares of the technology company’s stock valued at $54,453,000 after purchasing an additional 62,547 shares during the period. 96.43% of the stock is currently owned by institutional investors.
About Mercury Systems
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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