Brokerages Set Mercury Systems, Inc. (NASDAQ:MRCY) Target Price at $33.50

Mercury Systems, Inc. (NASDAQ:MRCY) has earned a consensus recommendation of “Reduce” from the eight research firms that are presently covering the firm, Marketbeat Ratings reports. Three research analysts have rated the stock with a sell recommendation, four have assigned a hold recommendation and one has issued a buy recommendation on the company. The average twelve-month target price among brokerages that have covered the stock in the last year is $33.50.

A number of equities analysts have issued reports on MRCY shares. Royal Bank of Canada raised their price objective on shares of Mercury Systems from $30.00 to $35.00 and gave the company a “sector perform” rating in a research note on Wednesday, August 14th. JPMorgan Chase & Co. lifted their price objective on Mercury Systems from $26.00 to $36.00 and gave the stock a “neutral” rating in a research note on Thursday, September 5th. Truist Financial increased their target price on Mercury Systems from $26.00 to $31.00 and gave the company a “hold” rating in a research note on Wednesday, August 14th. Robert W. Baird boosted their target price on Mercury Systems from $26.00 to $37.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 14th. Finally, StockNews.com downgraded shares of Mercury Systems from a “hold” rating to a “sell” rating in a research report on Thursday.

Mercury Systems Price Performance

Mercury Systems stock opened at $35.90 on Monday. The business’s fifty day moving average is $36.03 and its two-hundred day moving average is $31.58. The company has a debt-to-equity ratio of 0.40, a quick ratio of 2.64 and a current ratio of 4.07. The firm has a market cap of $2.13 billion, a P/E ratio of -15.28 and a beta of 0.69. Mercury Systems has a 52 week low of $25.31 and a 52 week high of $42.72.

Mercury Systems (NASDAQ:MRCY) last posted its quarterly earnings data on Tuesday, August 13th. The technology company reported $0.09 earnings per share for the quarter, beating the consensus estimate of ($0.23) by $0.32. Mercury Systems had a negative net margin of 16.48% and a negative return on equity of 4.92%. The firm had revenue of $248.56 million during the quarter, compared to analysts’ expectations of $223.80 million. Equities research analysts forecast that Mercury Systems will post -0.52 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Mercury Systems news, Director Debora A. Plunkett sold 1,843 shares of the business’s stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $38.07, for a total transaction of $70,163.01. Following the transaction, the director now owns 11,339 shares of the company’s stock, valued at $431,675.73. The sale was disclosed in a document filed with the SEC, which is available through this link. In related news, Director Debora A. Plunkett sold 1,843 shares of the company’s stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $38.07, for a total value of $70,163.01. Following the transaction, the director now owns 11,339 shares in the company, valued at approximately $431,675.73. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, COO Charles Roger Iv Wells sold 1,346 shares of the firm’s stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $39.49, for a total transaction of $53,153.54. Following the sale, the chief operating officer now owns 130,408 shares of the company’s stock, valued at $5,149,811.92. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 22,099 shares of company stock worth $865,740. Corporate insiders own 1.80% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Louisiana State Employees Retirement System grew its position in shares of Mercury Systems by 1.5% during the 2nd quarter. Louisiana State Employees Retirement System now owns 26,300 shares of the technology company’s stock worth $710,000 after purchasing an additional 400 shares in the last quarter. Illinois Municipal Retirement Fund grew its position in Mercury Systems by 1.5% during the first quarter. Illinois Municipal Retirement Fund now owns 29,782 shares of the technology company’s stock worth $879,000 after buying an additional 450 shares in the last quarter. Texas Permanent School Fund Corp increased its stake in Mercury Systems by 1.1% during the 1st quarter. Texas Permanent School Fund Corp now owns 45,577 shares of the technology company’s stock worth $1,345,000 after acquiring an additional 514 shares during the period. Iridian Asset Management LLC CT increased its stake in Mercury Systems by 11.4% during the 2nd quarter. Iridian Asset Management LLC CT now owns 9,464 shares of the technology company’s stock worth $255,000 after acquiring an additional 972 shares during the period. Finally, Gabelli Funds LLC raised its holdings in Mercury Systems by 8.4% in the 2nd quarter. Gabelli Funds LLC now owns 12,859 shares of the technology company’s stock valued at $347,000 after acquiring an additional 1,000 shares in the last quarter. 95.99% of the stock is owned by institutional investors and hedge funds.

About Mercury Systems

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.