Mercury Systems (NASDAQ:MRCY) Given New $80.00 Price Target at Jefferies Financial Group

Mercury Systems (NASDAQ:MRCY) had its target price reduced by research analysts at Jefferies Financial Group from $85.00 to $80.00 in a research report issued on Tuesday,Benzinga reports. The brokerage currently has a “hold” rating on the technology company’s stock. Jefferies Financial Group’s price objective points to a potential upside of 3.19% from the company’s previous close.

A number of other equities analysts have also issued reports on MRCY. Truist Financial increased their target price on shares of Mercury Systems from $102.00 to $109.00 and gave the company a “buy” rating in a research report on Wednesday, February 4th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Mercury Systems in a report on Thursday, January 22nd. The Goldman Sachs Group raised their target price on shares of Mercury Systems from $49.00 to $55.00 and gave the stock a “sell” rating in a report on Tuesday, January 20th. Royal Bank Of Canada restated an “outperform” rating and set a $105.00 price target on shares of Mercury Systems in a report on Wednesday, February 4th. Finally, Canaccord Genuity Group set a $102.00 price target on shares of Mercury Systems in a report on Wednesday, February 4th. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, three have issued a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $86.33.

Mercury Systems Stock Up 2.3%

NASDAQ MRCY traded up $1.78 during trading hours on Tuesday, reaching $77.53. 465,439 shares of the company traded hands, compared to its average volume of 667,302. Mercury Systems has a 12 month low of $42.00 and a 12 month high of $103.84. The company has a current ratio of 2.96, a quick ratio of 2.04 and a debt-to-equity ratio of 0.41. The stock has a market capitalization of $4.65 billion, a PE ratio of -146.28, a PEG ratio of 7.19 and a beta of 0.84. The company has a 50 day moving average of $83.79 and a two-hundred day moving average of $80.13.

Mercury Systems (NASDAQ:MRCY) last issued its earnings results on Tuesday, February 3rd. The technology company reported $0.16 earnings per share for the quarter, topping analysts’ consensus estimates of $0.07 by $0.09. The company had revenue of $232.87 million for the quarter, compared to analysts’ expectations of $209.96 million. Mercury Systems had a negative net margin of 3.23% and a positive return on equity of 1.28%. The firm’s revenue was up 4.4% compared to the same quarter last year. During the same period in the prior year, the company earned $0.07 earnings per share. As a group, equities analysts expect that Mercury Systems will post -0.08 earnings per share for the current year.

Insider Activity at Mercury Systems

In other Mercury Systems news, EVP Stuart Kupinsky sold 2,287 shares of the business’s stock in a transaction dated Tuesday, February 17th. The stock was sold at an average price of $83.56, for a total transaction of $191,101.72. Following the completion of the sale, the executive vice president directly owned 68,010 shares of the company’s stock, valued at approximately $5,682,915.60. The trade was a 3.25% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CAO Douglas Munro sold 582 shares of the business’s stock in a transaction dated Tuesday, February 17th. The stock was sold at an average price of $83.56, for a total value of $48,631.92. Following the sale, the chief accounting officer directly owned 14,328 shares of the company’s stock, valued at $1,197,247.68. This represents a 3.90% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 859,758 shares of company stock worth $74,481,931 in the last 90 days. Corporate insiders own 1.40% of the company’s stock.

Institutional Trading of Mercury Systems

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Signaturefd LLC lifted its position in shares of Mercury Systems by 15.4% in the fourth quarter. Signaturefd LLC now owns 804 shares of the technology company’s stock worth $59,000 after purchasing an additional 107 shares in the last quarter. Maryland State Retirement & Pension System lifted its holdings in Mercury Systems by 1.8% during the 4th quarter. Maryland State Retirement & Pension System now owns 7,714 shares of the technology company’s stock valued at $563,000 after purchasing an additional 134 shares during the last quarter. PNC Financial Services Group Inc. lifted its holdings in Mercury Systems by 2.0% during the 3rd quarter. PNC Financial Services Group Inc. now owns 7,175 shares of the technology company’s stock valued at $555,000 after purchasing an additional 142 shares during the last quarter. AlphaQuest LLC lifted its holdings in Mercury Systems by 41.9% during the 3rd quarter. AlphaQuest LLC now owns 569 shares of the technology company’s stock valued at $44,000 after purchasing an additional 168 shares during the last quarter. Finally, Nisa Investment Advisors LLC lifted its holdings in Mercury Systems by 10.3% during the 3rd quarter. Nisa Investment Advisors LLC now owns 1,941 shares of the technology company’s stock valued at $150,000 after purchasing an additional 181 shares during the last quarter. 95.99% of the stock is owned by institutional investors.

Mercury Systems Company Profile

Mercury Systems, Inc (NASDAQ: MRCY) is a technology company that designs, manufactures and markets secure processing subsystems for aerospace and defense applications. The company’s products are built to address the stringent security, safety and reliability requirements of mission-critical programs, with a focus on radar, electronic warfare, intelligence and other sensor and processing functions. Mercury’s offerings encompass rugged embedded computing modules, high-performance radio frequency (RF) and microwave components, digital signal processing subsystems and secure networking solutions.

Since its origins in advanced signal processing, Mercury Systems has expanded its capabilities through a combination of internal development and targeted acquisitions.