Mercury Systems Inc (NASDAQ:MRCY) Receives $81.00 Average Price Target from Brokerages

Shares of Mercury Systems Inc (NASDAQ:MRCY) have been given a consensus recommendation of “Moderate Buy” by the ten research firms that are currently covering the stock, Marketbeat Ratings reports. Two investment analysts have rated the stock with a sell rating, two have given a hold rating, four have assigned a buy rating and two have issued a strong buy rating on the company. The average 1-year target price among brokers that have covered the stock in the last year is $81.00.

Several research analysts have recently commented on the company. Royal Bank Of Canada set a $95.00 price objective on Mercury Systems and gave the stock an “outperform” rating in a report on Wednesday, November 5th. UBS Group set a $88.00 price target on Mercury Systems in a research note on Thursday, October 2nd. Wall Street Zen lowered Mercury Systems from a “buy” rating to a “hold” rating in a research note on Saturday, October 11th. Canaccord Genuity Group started coverage on shares of Mercury Systems in a research note on Thursday, October 2nd. They issued a “buy” rating and a $88.00 target price on the stock. Finally, Robert W. Baird upped their price target on shares of Mercury Systems from $58.00 to $70.00 and gave the company an “outperform” rating in a report on Tuesday, August 12th.

Mercury Systems Trading Down 3.5%

Shares of MRCY opened at $68.35 on Friday. Mercury Systems has a fifty-two week low of $37.28 and a fifty-two week high of $85.33. The firm has a market cap of $4.11 billion, a price-to-earnings ratio of -103.56, a PEG ratio of 3.17 and a beta of 0.79. The firm has a 50 day moving average price of $76.31 and a 200-day moving average price of $62.06. The company has a debt-to-equity ratio of 0.40, a quick ratio of 2.41 and a current ratio of 3.52.

Mercury Systems (NASDAQ:MRCY) last released its earnings results on Tuesday, June 7th. The technology company reported $0.64 EPS for the quarter. The company had revenue of $256.86 million for the quarter. Mercury Systems had a negative net margin of 4.16% and a positive return on equity of 0.58%. As a group, equities research analysts forecast that Mercury Systems will post -0.08 earnings per share for the current year.

Insider Activity

In other news, Director Debora A. Plunkett sold 1,700 shares of the stock in a transaction dated Friday, November 7th. The shares were sold at an average price of $73.99, for a total transaction of $125,783.00. Following the completion of the sale, the director directly owned 16,833 shares in the company, valued at approximately $1,245,473.67. This represents a 9.17% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CAO Douglas Munro sold 1,329 shares of the firm’s stock in a transaction dated Wednesday, November 12th. The stock was sold at an average price of $73.42, for a total value of $97,575.18. Following the completion of the sale, the chief accounting officer directly owned 14,678 shares in the company, valued at $1,077,658.76. The trade was a 8.30% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders sold 1,010,096 shares of company stock valued at $76,124,596. 1.40% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Mercury Systems

Several hedge funds have recently made changes to their positions in MRCY. Castleark Management LLC lifted its stake in Mercury Systems by 9.3% in the third quarter. Castleark Management LLC now owns 101,468 shares of the technology company’s stock worth $7,854,000 after acquiring an additional 8,668 shares during the period. CANADA LIFE ASSURANCE Co increased its position in Mercury Systems by 3.8% during the 3rd quarter. CANADA LIFE ASSURANCE Co now owns 44,041 shares of the technology company’s stock valued at $3,315,000 after purchasing an additional 1,595 shares during the period. Caxton Associates LLP bought a new position in Mercury Systems in the 3rd quarter worth $527,000. Wexford Capital LP purchased a new stake in shares of Mercury Systems in the 3rd quarter worth about $66,000. Finally, Sandler Capital Management bought a new stake in shares of Mercury Systems during the 3rd quarter valued at about $1,442,000. 95.99% of the stock is owned by hedge funds and other 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.