Shares of Mercury Systems Inc. (NASDAQ:MRCY) fell 2% during mid-day trading on Wednesday . The stock traded as low as $24.21 and last traded at $25.22, with a volume of 277,121 shares traded. The stock had previously closed at $25.74.

Several brokerages have recently issued reports on MRCY. Zacks Investment Research cut shares of Mercury Systems from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, July 19th. Noble Financial restated a “hold” rating on shares of Mercury Systems in a research note on Wednesday. They noted that the move was a valuation call. Citigroup Inc. started coverage on shares of Mercury Systems in a research note on Friday, June 10th. They set a “buy” rating and a $27.00 target price on the stock. KeyCorp restated a “buy” rating on shares of Mercury Systems in a research note on Wednesday, April 20th. Finally, Sterne Agee CRT restated a “buy” rating on shares of Mercury Systems in a research note on Monday, May 16th. Four investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. The company has an average rating of “Buy” and an average target price of $25.40.

The company has a market cap of $1.01 billion and a P/E ratio of 49.30. The company’s 50-day moving average is $25.03 and its 200 day moving average is $20.70.

Mercury Systems (NASDAQ:MRCY) last posted its quarterly earnings results on Tuesday, August 2nd. The company reported $0.29 EPS for the quarter, beating the consensus estimate of $0.14 by $0.15. The business earned $85.40 million during the quarter, compared to analysts’ expectations of $69.51 million. The firm’s quarterly revenue was up 7.3% compared to the same quarter last year. During the same quarter last year, the firm earned $0.18 EPS. Equities research analysts anticipate that Mercury Systems Inc. will post $0.67 EPS for the current fiscal year.

In other Mercury Systems news, COO Didier M. C. Thibaud sold 77,000 shares of Mercury Systems stock in a transaction dated Thursday, May 5th. The stock was sold at an average price of $20.54, for a total value of $1,581,580.00. Following the completion of the sale, the chief operating officer now owns 396,112 shares in the company, valued at approximately $8,136,140.48. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

Several institutional investors have recently added to or reduced their stakes in MRCY. Russell Frank Co raised its position in Mercury Systems by 38.5% in the fourth quarter. Russell Frank Co now owns 222,536 shares of the company’s stock valued at $4,203,000 after buying an additional 61,896 shares in the last quarter. California State Teachers Retirement System raised its position in Mercury Systems by 1.7% in the fourth quarter. California State Teachers Retirement System now owns 63,342 shares of the company’s stock valued at $1,163,000 after buying an additional 1,084 shares in the last quarter. California Public Employees Retirement System raised its position in Mercury Systems by 17.9% in the fourth quarter. California Public Employees Retirement System now owns 135,196 shares of the company’s stock valued at $2,482,000 after buying an additional 20,500 shares in the last quarter. Turner Investments L.P. purchased a new position in Mercury Systems during the fourth quarter valued at $1,102,000. Finally, Marshall Wace LLP purchased a new position in Mercury Systems during the fourth quarter valued at $1,945,000.

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