Mercury Systems Inc. (NASDAQ:MRCY) shares saw unusually-high trading volume on Friday . Approximately 298,623 shares were traded during mid-day trading, an increase of 36% from the previous session’s volume of 219,140 shares.The stock last traded at $23.04 and had previously closed at $23.84.

MRCY has been the topic of a number of recent analyst reports. Zacks Investment Research upgraded shares of Mercury Systems from a “hold” rating to a “strong-buy” rating and set a $28.00 price target on the stock in a research report on Tuesday, July 5th. Sterne Agee CRT restated a “buy” rating on shares of Mercury Systems in a research report on Monday, May 16th. KeyCorp restated a “buy” rating on shares of Mercury Systems in a research report on Wednesday, April 20th. Citigroup Inc. initiated coverage on shares of Mercury Systems in a research report on Friday, June 10th. They issued a “buy” rating and a $27.00 price target on the stock. Finally, Jefferies Group restated a “hold” rating and issued a $27.00 price target (up previously from $22.00) on shares of Mercury Systems in a research report on Thursday. Four research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus price target of $27.00.

The company has a market cap of $877.59 million and a P/E ratio of 41.45. The stock’s 50-day moving average price is $25.03 and its 200-day moving average price is $20.74.

Mercury Systems (NASDAQ:MRCY) last issued its quarterly earnings results on Tuesday, August 2nd. The company reported $0.29 EPS for the quarter, beating analysts’ consensus estimates of $0.14 by $0.15. During the same quarter in the previous year, the business earned $0.18 earnings per share. The business had revenue of $85.40 million for the quarter, compared to the consensus estimate of $69.51 million. The firm’s revenue was up 7.3% on a year-over-year basis. Analysts expect that Mercury Systems Inc. will post $0.69 earnings per share for the current fiscal year.

A number of hedge funds and institutional investors have modified their holdings of MRCY. I.G. Investment Management LTD. boosted its position in shares of Mercury Systems by 0.3% in the fourth quarter. I.G. Investment Management LTD. now owns 55,466 shares of the company’s stock worth $1,018,000 after buying an additional 145 shares during the last quarter. Marshall Wace LLP purchased a new position in shares of Mercury Systems during the fourth quarter valued at about $1,945,000. Finally, California Public Employees Retirement System boosted its position in shares of 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.

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