Mercury Systems (NASDAQ:MRCY) Price Target Raised to $129.00

Mercury Systems (NASDAQ:MRCY) had its price target increased by Canaccord Genuity Group from $128.00 to $129.00 in a report issued on Thursday morning,Benzinga reports. The brokerage currently has a buy rating on the technology company’s stock.

Other analysts have also issued research reports about the company. Royal Bank Of Canada cut their price objective on Mercury Systems from $120.00 to $105.00 and set an “outperform” rating for the company in a report on Wednesday, October 28th. Weiss Ratings lowered Mercury Systems from a “sell (d)” rating to a “sell (d-)” rating in a report on Monday, September 28th. Guggenheim started coverage on shares of Mercury Systems in a research report on Monday, September 14th. They issued a “buy” rating and a $115.00 price target on the stock. Oppenheimer began coverage on shares of Mercury Systems in a report on Thursday, October 22nd. They issued an “outperform” rating and a $90.00 price target for the company. Finally, Deutsche Bank lowered shares of Mercury Systems to a “hold” rating in a research report on Wednesday, August 12th. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, three have issued a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $108.10.

Mercury Systems Price Performance

Shares of Mercury Systems stock traded down $2.01 on Thursday, hitting $81.42. The company had a trading volume of 404,906 shares, compared to its average volume of 854,538. Mercury Systems has a 52 week low of $64.37 and a 52 week high of $128.45. The company has a debt-to-equity ratio of 0.22, a current ratio of 2.90 and a quick ratio of 1.85. The company has a market cap of $4.96 billion, a PE ratio of -1,017.75 and a beta of 0.98. The business has a 50-day simple moving average of $80.17 and a 200-day simple moving average of $90.76.

Mercury Systems (NASDAQ:MRCY) last announced its earnings results on Tuesday, November 10th. The technology company reported $0.52 EPS for the quarter, topping the consensus estimate of $0.30 by $0.22. The firm had revenue of $253.15 million for the quarter, compared to analysts’ expectations of $245.00 million. Mercury Systems had a positive return on equity of 2.52% and a negative net margin of 0.40%. The firm’s quarterly revenue was up 12.4% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.26 earnings per share. Research analysts expect that Mercury Systems will post 0.91 EPS 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 dated Thursday, September 3rd. The stock was 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 of the company’s stock, valued at approximately $1,628,930.25. This trade represents a 17.19% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO William L. Ballhaus sold 49,090 shares of the business’s stock in a transaction dated Wednesday, August 26th. The stock was sold at an average price of $89.10, for a total value of $4,373,919.00. Following the sale, the chief executive officer owned 361,822 shares in the company, valued at approximately $32,238,340.20. The trade was a 11.95% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 452,186 shares of company stock valued at $41,933,170 over the last three months. Company insiders own 0.99% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Marshall Wace LLP acquired a new position in Mercury Systems in the 3rd quarter worth approximately $437,000. Polymer Capital Management US LLC raised its stake in Mercury Systems by 144.7% during the 3rd quarter. Polymer Capital Management US LLC now owns 5,659 shares of the technology company’s stock valued at $470,000 after purchasing an additional 3,346 shares during the period. Gabelli Funds LLC raised its stake in Mercury Systems by 6.4% during the 3rd quarter. Gabelli Funds LLC now owns 35,469 shares of the technology company’s stock valued at $2,944,000 after purchasing an additional 2,120 shares during the period. Gamco Investors INC. ET AL acquired a new stake in Mercury Systems during the 3rd quarter valued at $506,000. Finally, First Trust Advisors LP lifted its holdings in shares of Mercury Systems by 37.4% in the third quarter. First Trust Advisors LP now owns 1,785,325 shares of the technology company’s stock valued at $148,182,000 after purchasing an additional 486,368 shares in the last quarter. 95.99% of the stock is currently owned by institutional investors and hedge funds.

About Mercury Systems

Mercury Systems, Inc. develops and supplies secure processing systems and subsystems for the aerospace and defense industries. Its products include embedded computing, signal processing, radio-frequency and microwave components, and other technologies used to process and manage critical data. The company’s technologies support applications such as radar, electronic warfare, communications, avionics, and command-and-control systems. Mercury works with defense contractors and government customers, providing components and systems designed for use in demanding environments.