Zacks Investment Research upgraded shares of Mercury Systems (NASDAQ:MRCY) from a hold rating to a strong-buy rating in a report issued on Thursday morning. The brokerage currently has $59.00 target price on the technology company’s stock.

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. “

Several other research firms have also commented on MRCY. Robert W. Baird boosted their price objective on shares of Mercury Systems from $48.00 to $59.00 and gave the stock an outperform rating in a research note on Wednesday, October 25th. BidaskClub upgraded shares of Mercury Systems from a sell rating to a hold rating in a research note on Wednesday, December 20th. SunTrust Banks reiterated a buy rating and set a $51.00 price objective on shares of Mercury Systems in a research note on Monday, October 2nd. Finally, Noble Financial reiterated a hold rating on shares of Mercury Systems in a research note on Thursday, October 26th. One analyst has rated the stock with a sell rating, two have given a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has a consensus rating of Buy and an average price target of $53.33.

Shares of Mercury Systems (MRCY) traded up $0.14 on Thursday, hitting $51.46. 162,900 shares of the stock traded hands, compared to its average volume of 240,333. Mercury Systems has a 52-week low of $29.43 and a 52-week high of $55.00. The stock has a market cap of $2,480.00, a PE ratio of 59.84, a PEG ratio of 4.30 and a beta of 0.23.

Mercury Systems (NASDAQ:MRCY) last announced its quarterly earnings results on Tuesday, October 24th. The technology company reported $0.37 earnings per share for the quarter, topping the consensus estimate of $0.26 by $0.11. The firm had revenue of $106.10 million during the quarter, compared to analysts’ expectations of $105.18 million. Mercury Systems had a net margin of 9.14% and a return on equity of 6.51%. The company’s revenue was up 21.1% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.22 EPS. analysts anticipate that Mercury Systems will post 1.12 earnings per share for the current year.

In other Mercury Systems news, COO Didier M. C. Thibaud sold 3,500 shares of the company’s stock in a transaction that occurred on Wednesday, November 1st. The shares were sold at an average price of $50.34, for a total transaction of $176,190.00. Following the transaction, the chief operating officer now owns 383,440 shares in the company, valued at approximately $19,302,369.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Mark Aslett sold 9,600 shares of the company’s stock in a transaction that occurred on Thursday, November 16th. The shares were sold at an average price of $50.11, for a total transaction of $481,056.00. The disclosure for this sale can be found here. In the last quarter, insiders have sold 62,300 shares of company stock valued at $3,171,165. 3.50% of the stock is currently owned by company insiders.

A number of institutional investors have recently modified their holdings of MRCY. Westfield Capital Management Co. LP acquired a new position in Mercury Systems during the 3rd quarter valued at approximately $14,576,000. State Street Corp increased its stake in Mercury Systems by 13.2% during the 2nd quarter. State Street Corp now owns 1,684,565 shares of the technology company’s stock valued at $70,906,000 after purchasing an additional 196,075 shares in the last quarter. Nationwide Fund Advisors increased its stake in Mercury Systems by 189.8% during the 2nd quarter. Nationwide Fund Advisors now owns 280,946 shares of the technology company’s stock valued at $11,825,000 after purchasing an additional 183,994 shares in the last quarter. Vanguard Group Inc. increased its stake in Mercury Systems by 4.6% during the 2nd quarter. Vanguard Group Inc. now owns 4,118,060 shares of the technology company’s stock valued at $173,329,000 after purchasing an additional 180,028 shares in the last quarter. Finally, Bamco Inc. NY increased its stake in Mercury Systems by 8.9% during the 3rd quarter. Bamco Inc. NY now owns 1,226,000 shares of the technology company’s stock valued at $63,605,000 after purchasing an additional 100,000 shares in the last quarter. Institutional investors and hedge funds own 96.28% of the company’s stock.

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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. 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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