Mercury Systems Inc (NASDAQ:MRCY) Stock Rated “Hold” by Sell-Side Brokerages

Mercury Systems Inc (NASDAQ:MRCY) has received a consensus rating of “Hold” from the thirteen ratings firms that are presently covering the stock, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a sell recommendation, four have assigned a hold recommendation, six have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year price target among brokerages that have updated their coverage on the stock in the last year is $107.90.

A number of research analysts have recently weighed in on MRCY shares. Truist Financial raised their price target on shares of Mercury Systems from $109.00 to $120.00 and gave the company a “buy” rating in a report on Thursday, August 20th. Weiss Ratings lowered shares of Mercury Systems from a “sell (d)” rating to a “sell (d-)” rating in a research note on Monday, September 28th. Piper Sandler decreased their price objective on shares of Mercury Systems from $131.00 to $107.00 and set an “overweight” rating for the company in a report on Friday, October 23rd. Guggenheim began coverage on Mercury Systems in a report on Monday, September 14th. They set a “buy” rating and a $115.00 price objective on the stock. Finally, Zacks Research cut Mercury Systems from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, August 4th.

Mercury Systems Trading Down 10.7%

Shares of NASDAQ MRCY opened at $71.76 on Friday. The stock has a market cap of $4.37 billion, a price-to-earnings ratio of -143.52 and a beta of 0.98. The business has a 50 day simple moving average of $81.18 and a 200 day simple moving average of $91.48. Mercury Systems has a 52 week low of $65.04 and a 52 week high of $128.45. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.85 and a current ratio of 2.96.

Mercury Systems (NASDAQ:MRCY) last released its quarterly earnings data on Tuesday, August 18th. The technology company reported $0.37 EPS for the quarter, missing analysts’ consensus estimates of $0.38 by ($0.01). The firm had revenue of $289.78 million during the quarter, compared to analyst estimates of $266.09 million. Mercury Systems had a positive return on equity of 1.29% and a negative net margin of 3.02%. The company’s quarterly revenue was up 6.1% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.47 EPS. On average, research analysts predict that Mercury Systems will post 0.91 earnings per share for the current fiscal year.

Insider Transactions at Mercury Systems

In related news, EVP Steven Ratner sold 4,000 shares of Mercury Systems stock in a transaction on Thursday, September 3rd. The shares were sold at an average price of $84.51, for a total value of $338,040.00. Following the transaction, the executive vice president owned 19,275 shares in the company, valued at $1,628,930.25. This trade represents a 17.19% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO William L. Ballhaus sold 49,090 shares of Mercury Systems stock in a transaction on Wednesday, August 26th. The stock was sold at an average price of $89.10, for a total transaction of $4,373,919.00. Following the completion of the transaction, the chief executive officer owned 361,822 shares in the company, valued at $32,238,340.20. This trade represents a 11.95% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 452,186 shares of company stock worth $41,933,170. 0.99% of the stock is owned by insiders.

Institutional Investors Weigh In On Mercury Systems

A number of hedge funds have recently bought and sold shares of MRCY. Fulcrum Asset Management LLP increased its stake in shares of Mercury Systems by 4,840.4% in the third quarter. Fulcrum Asset Management LLP now owns 2,569 shares of the technology company’s stock worth $212,000 after purchasing an additional 2,517 shares during the period. Allspring Global Investments Holdings LLC lifted its position in shares of Mercury Systems by 4.5% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 496,387 shares of the technology company’s stock worth $41,731,000 after purchasing an additional 21,521 shares during the last quarter. StoneRidge PMG Advisors LLC bought a new stake in Mercury Systems during the 3rd quarter valued at approximately $292,000. Ethic Inc. boosted its stake in Mercury Systems by 5.4% during the 3rd quarter. Ethic Inc. now owns 4,204 shares of the technology company’s stock valued at $349,000 after purchasing an additional 217 shares during the period. Finally, StoneX Group Inc. bought a new stake in Mercury Systems during the 3rd quarter valued at approximately $244,000. 95.99% of the stock is currently owned by institutional investors.

Mercury Systems Company Profile

Mercury Systems, Inc is an aerospace and defense technology company that develops and manufactures mission-critical computing and electronic systems. Its products are designed for use in aircraft, unmanned systems, naval vessels, ground vehicles, radar platforms and other defense applications.

The company provides embedded computing solutions, including high-performance processors, ruggedized computers, secure servers, data-storage systems and software. Its portfolio also includes radio-frequency and microwave components, electronic warfare systems, signal processing technologies and systems used for radar, communications, avionics and intelligence, surveillance and reconnaissance missions.

Founded in 1981 and headquartered in Andover, Massachusetts, Mercury Systems primarily serves the U.S.