Mercury Systems Inc. (MRCY) Raised to “Buy” at Zacks Investment Research
Mercury Systems Inc. (NASDAQ:MRCY) was upgraded by Zacks Investment Research from a “sell” rating to a “buy” rating in a research report issued to clients and investors on Wednesday. The firm presently has a $27.00 price target on the stock. Zacks Investment Research’s target price would indicate a potential upside of 11.99% from the stock’s current price.
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. “
Several other equities analysts have also recently weighed in on MRCY. Noble Financial reaffirmed 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. Jefferies Group reaffirmed a “hold” rating and set a $27.00 target price (up from $22.00) on shares of Mercury Systems in a research note on Thursday, August 4th. Robert W. Baird assumed coverage on shares of Mercury Systems in a research note on Wednesday, October 5th. They set an “outperform” rating and a $30.00 target price for the company. Finally, Drexel Hamilton assumed coverage on shares of Mercury Systems in a research note on Thursday, August 25th. They set a “buy” rating for the company. Three analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of $27.33.
Mercury Systems (NASDAQ:MRCY) opened at 24.11 on Wednesday. The stock’s 50 day moving average is $23.42 and its 200 day moving average is $22.90. Mercury Systems has a 52 week low of $15.67 and a 52 week high of $26.37. The company has a market capitalization of $973.08 million, a P/E ratio of 43.05 and a beta of 0.86.
Mercury Systems (NASDAQ:MRCY) last posted its earnings results on Tuesday, August 2nd. The company reported $0.29 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.14 by $0.15. The company earned $85.40 million during the quarter, compared to analysts’ expectations of $69.51 million. Mercury Systems had a net margin of 7.31% and a return on equity of 6.47%. Mercury Systems’s quarterly revenue was up 7.3% on a year-over-year basis. During the same period last year, the company posted $0.18 earnings per share. On average, equities research analysts expect that Mercury Systems will post $0.73 earnings per share for the current year.
In other Mercury Systems news, Director Vincent Vitto sold 8,000 shares of Mercury Systems stock in a transaction on Friday, October 7th. The shares were sold at an average price of $24.27, for a total value of $194,160.00. Following the completion of the transaction, the director now directly owns 61,893 shares of the company’s stock, valued at approximately $1,502,143.11. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 4.30% of the stock is currently owned by company insiders.
Several large investors have recently added to or reduced their stakes in the company. PineBridge Investments L.P. raised its stake in Mercury Systems by 30.9% in the second quarter. PineBridge Investments L.P. now owns 5,077 shares of the company’s stock valued at $126,000 after buying an additional 1,197 shares during the period. Teacher Retirement System of Texas raised its stake in Mercury Systems by 29.7% in the second quarter. Teacher Retirement System of Texas now owns 5,533 shares of the company’s stock valued at $138,000 after buying an additional 1,268 shares during the period. Sei Investments Co. raised its stake in Mercury Systems by 36.6% in the second quarter. Sei Investments Co. now owns 5,966 shares of the company’s stock valued at $148,000 after buying an additional 1,599 shares during the period. C M Bidwell & Associates Ltd. purchased a new stake in Mercury Systems during the second quarter valued at about $179,000. Finally, US Bancorp DE raised its stake in Mercury Systems by 229.4% in the second quarter. US Bancorp DE now owns 7,520 shares of the company’s stock valued at $186,000 after buying an additional 5,237 shares during the period. Hedge funds and other institutional investors own 91.83% of the company’s stock.
Mercury Systems Company Profile
Mercury Systems, Inc is a commercial provider of secure processing subsystems designed and made in the United States. The Company’s solutions support a range of defense and intelligence programs. The Company’s technologies include embedded processing modules and subsystems, radio frequency (RF) and microwave multi-function assemblies, as well as subsystems, and RF and microwave components.
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