Brokerages Set Mercury Systems Inc (NASDAQ:MRCY) PT at $50.29

Shares of Mercury Systems Inc (NASDAQ:MRCY) have been given an average recommendation of “Moderate Buy” by the eight ratings firms that are currently covering the stock, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation, three have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month price target among analysts that have covered the stock in the last year is $50.2857.

A number of brokerages have recently issued reports on MRCY. JPMorgan Chase & Co. increased their target price on Mercury Systems from $48.00 to $56.00 and gave the stock a “neutral” rating in a report on Monday, June 16th. Truist Financial increased their target price on Mercury Systems from $56.00 to $60.00 and gave the stock a “buy” rating in a report on Monday, June 2nd. The Goldman Sachs Group increased their target price on Mercury Systems from $30.00 to $33.00 and gave the stock a “sell” rating in a report on Monday, May 12th. Finally, Royal Bank Of Canada increased their price target on Mercury Systems from $50.00 to $55.00 and gave the stock a “sector perform” rating in a research report on Thursday, July 3rd.

Mercury Systems Trading Up 1.4%

Shares of MRCY opened at $53.58 on Thursday. Mercury Systems has a 1 year low of $32.32 and a 1 year high of $55.40. The company has a current ratio of 3.44, a quick ratio of 2.25 and a debt-to-equity ratio of 0.41. The stock has a 50 day simple moving average of $52.01 and a 200-day simple moving average of $47.89. The stock has a market cap of $3.20 billion, a PE ratio of -47.84, a PEG ratio of 2.48 and a beta of 0.72.

Mercury Systems (NASDAQ:MRCY) last issued its earnings results on Monday, August 11th. The technology company reported $0.47 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.21 by $0.26. Mercury Systems had a negative return on equity of 0.77% and a negative net margin of 7.33%. The business had revenue of $273.11 million during the quarter, compared to analysts’ expectations of $244.56 million. During the same period in the prior year, the firm posted $0.23 EPS. Mercury Systems’s quarterly revenue was up 9.9% compared to the same quarter last year. On average, sell-side analysts predict that Mercury Systems will post -0.08 EPS for the current fiscal year.

Insider Buying and Selling

In other Mercury Systems news, EVP Steven Ratner sold 1,839 shares of the stock in a transaction on Monday, June 16th. The stock was sold at an average price of $53.48, for a total value of $98,349.72. Following the transaction, the executive vice president directly owned 35,174 shares in the company, valued at approximately $1,881,105.52. This trade represents a 4.97% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 1.60% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of MRCY. Sterling Capital Management LLC lifted its stake in shares of Mercury Systems by 762.6% in the 4th quarter. Sterling Capital Management LLC now owns 1,639 shares of the technology company’s stock valued at $69,000 after purchasing an additional 1,449 shares during the period. Principal Financial Group Inc. lifted its stake in shares of Mercury Systems by 11.8% in the 1st quarter. Principal Financial Group Inc. now owns 274,954 shares of the technology company’s stock valued at $11,848,000 after purchasing an additional 29,074 shares during the period. Wealth Enhancement Advisory Services LLC acquired a new position in shares of Mercury Systems in the 4th quarter valued at $241,000. Calamos Advisors LLC acquired a new position in shares of Mercury Systems in the 1st quarter valued at $848,000. Finally, GAMMA Investing LLC lifted its stake in shares of Mercury Systems by 6,776.2% in the 1st quarter. GAMMA Investing LLC now owns 45,589 shares of the technology company’s stock valued at $1,964,000 after purchasing an additional 44,926 shares during the period. 95.99% of the stock is currently owned by institutional investors.

Mercury Systems Company Profile

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.