Mercury Systems Inc. (MRCY) Cut to “Sell” at Zacks Investment Research
Mercury Systems Inc. (NASDAQ:MRCY) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Wednesday.
According to Zacks, “Mercury Systems, Inc. is a high-tech commercial provider of secure and sensor processing subsystems designed and made in the U.S.A. powering today’s critical defense and intelligence applications. Their products and solutions have been deployed in more than 300 programs with over 25 different defense prime contractors. Key programs include Aegis, Patriot, Surface Electronic Warfare Improvement Program, Gorgon Stare, Predator, F-35 and Reaper. They operate across a broad spectrum of defense programs and deliver their solutions and services via two operating segments: Mercury Commercial Electronics and Mercury Defense Systems. “
Other analysts have also recently issued research reports about the company. Robert W. Baird began coverage on Mercury Systems in a research note on Wednesday, October 5th. They set an “outperform” rating and a $30.00 price objective on the stock. Drexel Hamilton began coverage on Mercury Systems in a research note on Thursday, August 25th. They set a “buy” rating on the stock. Jefferies Group restated a “hold” rating and set a $27.00 price objective (up previously from $22.00) on shares of Mercury Systems in a research note on Thursday, August 4th. Finally, Noble Financial restated a “hold” rating on shares of Mercury Systems in a research note on Wednesday, August 3rd. They noted that the move was a valuation call. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and six have given a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $27.50.
Shares of Mercury Systems (NASDAQ:MRCY) opened at 23.70 on Wednesday. The stock’s 50 day moving average price is $23.39 and its 200 day moving average price is $22.78. The firm has a market cap of $956.53 million, a price-to-earnings ratio of 42.32 and a beta of 0.86. Mercury Systems has a 12 month low of $15.67 and a 12 month high of $26.37.
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. The firm earned $85.40 million during the quarter, compared to the consensus estimate of $69.51 million. Mercury Systems had a return on equity of 6.47% and a net margin of 7.31%. Mercury Systems’s revenue for the quarter was up 7.3% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.18 earnings per share. Equities research analysts predict that Mercury Systems will post $0.73 earnings per share for the current fiscal year.
In other news, Director Vincent Vitto sold 8,000 shares of the stock in a transaction that occurred on Friday, October 7th. The stock was sold at an average price of $24.27, for a total transaction of $194,160.00. Following the sale, the director now directly owns 61,893 shares in the company, valued at approximately $1,502,143.11. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 4.30% of the company’s stock.
Several hedge funds have recently made changes to their positions in MRCY. Macquarie Group Ltd. boosted its stake in shares of Mercury Systems by 184.1% in the second quarter. Macquarie Group Ltd. now owns 77,000 shares of the company’s stock worth $1,914,000 after buying an additional 49,900 shares during the last quarter. Mason Street Advisors LLC acquired a new stake in Mercury Systems during the second quarter valued at approximately $195,000. Aristotle Capital Boston LLC boosted its stake in Mercury Systems by 3.3% in the second quarter. Aristotle Capital Boston LLC now owns 250,294 shares of the company’s stock valued at $6,222,000 after buying an additional 8,110 shares in the last quarter. Public Employees Retirement System of Ohio boosted its stake in Mercury Systems by 190.7% in the second quarter. Public Employees Retirement System of Ohio now owns 53,834 shares of the company’s stock valued at $1,338,000 after buying an additional 35,314 shares in the last quarter. Finally, Sterling Capital Management LLC boosted its stake in Mercury Systems by 25.3% in the second quarter. Sterling Capital Management LLC now owns 59,251 shares of the company’s stock valued at $1,473,000 after buying an additional 11,966 shares in the last quarter. Institutional investors and hedge funds own 91.85% of the company’s stock.
Mercury Systems Company Profile
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