Mercury Systems (NASDAQ:MRCY) Upgraded at StockNews.com

StockNews.com upgraded shares of Mercury Systems (NASDAQ:MRCY) from a sell rating to a hold rating in a report released on Friday.

A number of other analysts also recently commented on MRCY. 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. JPMorgan Chase & Co. boosted their price objective on shares of Mercury Systems from $26.00 to $36.00 and gave the stock a neutral rating in a research report on Thursday, September 5th. Royal Bank of Canada increased 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. Alembic Global Advisors upgraded shares of Mercury Systems from a neutral rating to an overweight rating and set a $48.00 target price for the company in a research report on Monday, August 19th. Finally, Truist Financial increased their price target on shares of Mercury Systems from $26.00 to $31.00 and gave the company a hold rating in a research report on Wednesday, August 14th. Three investment analysts have rated the stock with a sell rating, five have issued a hold rating and one has issued a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of Hold and an average target price of $33.50.

Mercury Systems Stock Up 1.4 %

Shares of NASDAQ:MRCY opened at $37.50 on Friday. Mercury Systems has a fifty-two week low of $25.31 and a fifty-two week high of $42.72. The company has a quick ratio of 2.64, a current ratio of 4.07 and a debt-to-equity ratio of 0.40. The firm’s 50-day simple moving average is $36.39 and its 200-day simple moving average is $31.82. The company has a market cap of $2.23 billion, a price-to-earnings ratio of -15.96 and a beta of 0.69.

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

Insider Transactions at Mercury Systems

In other news, Director Debora A. Plunkett sold 1,843 shares of the company’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 completion of the transaction, the director now directly owns 11,339 shares of the company’s stock, valued at $431,675.73. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CEO William L. Ballhaus sold 6,549 shares of the company’s stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $39.49, for a total value of $258,620.01. Following the completion of the sale, the chief executive officer now directly owns 353,481 shares of the company’s stock, valued at approximately $13,958,964.69. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Debora A. Plunkett sold 1,843 shares of the company’s stock in a transaction on Friday, August 30th. The shares were sold at an average price of $38.07, for a total value of $70,163.01. Following the completion of the sale, the director now owns 11,339 shares of the company’s stock, valued at approximately $431,675.73. The disclosure for this sale can be found here. In the last three months, insiders have sold 22,099 shares of company stock worth $865,740. 1.80% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Mercury Systems

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in shares of Mercury Systems in the 2nd quarter valued at approximately $3,079,000. Clearline Capital LP lifted its holdings in shares of Mercury Systems by 18.4% in the second quarter. Clearline Capital LP now owns 526,611 shares of the technology company’s stock valued at $14,213,000 after purchasing an additional 81,826 shares in the last quarter. The Manufacturers Life Insurance Company boosted its position in shares of Mercury Systems by 232.7% in the second quarter. The Manufacturers Life Insurance Company now owns 29,411 shares of the technology company’s stock worth $794,000 after buying an additional 20,571 shares during the period. Dark Forest Capital Management LP purchased a new position in shares of Mercury Systems during the second quarter valued at $526,000. Finally, Deerfield Management Company L.P. Series C purchased a new position in shares of Mercury Systems during the second quarter valued at $285,000. 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.