Zacks Investment Research cut shares of Mercury Systems (NASDAQ:MRCY) from a buy rating to a hold rating in a research note issued to investors on Saturday morning.

According to Zacks, “Mercury Systems, Inc. is a commercial provider of secure sensor and mission processing subsystems for defense and intelligence programs. The Company’s products and solutions are deployed in more than 300 programs with over 25 different defense prime contractors. “

A number of other research analysts also recently issued reports on the company. Noble Financial reissued a hold rating on shares of Mercury Systems in a research note on Thursday, October 26th. SunTrust Banks reissued a buy rating on shares of Mercury Systems in a research note on Friday, October 20th. Finally, Robert W. Baird boosted their price objective on Mercury Systems from $48.00 to $59.00 and gave the company an outperform rating in a research note on Wednesday, October 25th. Three equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company has a consensus rating of Buy and an average target price of $51.17.

Shares of Mercury Systems (MRCY) traded down $0.93 on Friday, reaching $50.86. The company’s stock had a trading volume of 243,200 shares, compared to its average volume of 411,521. The firm has a market cap of $2,498.43, a P/E ratio of 55.69, a PEG ratio of 4.30 and a beta of 0.23. Mercury Systems has a 52-week low of $29.31 and a 52-week high of $54.49.

Mercury Systems (NASDAQ:MRCY) last announced its quarterly earnings data on Tuesday, October 24th. The technology company reported $0.37 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.26 by $0.11. The company had revenue of $106.10 million for the quarter, compared to the consensus estimate of $105.18 million. Mercury Systems had a return on equity of 6.51% and a net margin of 9.14%. The firm’s revenue was up 21.1% compared to the same quarter last year. During the same period in the previous year, the business earned $0.22 EPS. equities analysts predict that Mercury Systems will post 1.08 earnings per share for the current fiscal year.

In related news, CEO Mark Aslett sold 4,800 shares of the company’s stock in a transaction that occurred on Monday, September 11th. The stock was sold at an average price of $47.42, for a total transaction of $227,616.00. Following the transaction, the chief executive officer now directly owns 519,382 shares of the company’s stock, valued at approximately $24,629,094.44. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CFO Gerald M. Haines II sold 2,500 shares of the company’s stock in a transaction that occurred on Monday, October 2nd. The stock was sold at an average price of $51.94, for a total value of $129,850.00. Following the transaction, the chief financial officer now directly owns 220,760 shares in the company, valued at $11,466,274.40. The disclosure for this sale can be found here. Insiders sold a total of 56,400 shares of company stock worth $2,818,497 over the last three months. 3.50% of the stock is owned by company insiders.

Hedge funds have recently bought and sold shares of the stock. Bank of Montreal Can raised its stake in Mercury Systems by 29.2% during the 2nd quarter. Bank of Montreal Can now owns 2,459 shares of the technology company’s stock worth $104,000 after buying an additional 556 shares during the period. Advisor Group Inc. raised its stake in Mercury Systems by 97.8% during the 3rd quarter. Advisor Group Inc. now owns 2,556 shares of the technology company’s stock worth $132,000 after buying an additional 1,264 shares during the period. Teacher Retirement System of Texas acquired a new position in Mercury Systems during the 3rd quarter worth approximately $206,000. Ameritas Investment Partners Inc. raised its stake in Mercury Systems by 5.0% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 4,114 shares of the technology company’s stock worth $173,000 after buying an additional 195 shares during the period. Finally, Dorsey & Whitney Trust CO LLC acquired a new position in Mercury Systems during the 3rd quarter worth approximately $215,000. 96.38% of the stock is currently owned by institutional investors and hedge funds.

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About Mercury Systems

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. Its 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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