Brokerages Set Mercury Systems Inc (NASDAQ:MRCY) PT at $91.00

Shares of Mercury Systems Inc (NASDAQ:MRCY) have been assigned a consensus recommendation of “Moderate Buy” from the ten brokerages that are currently covering the company, MarketBeat.com reports. Two research analysts have rated the stock with a sell recommendation, three have given a hold recommendation, three have issued a buy recommendation and two have given a strong buy recommendation to the company. The average 1 year price objective among analysts that have issued ratings on the stock in the last year is $91.00.

A number of equities research analysts recently weighed in on the stock. Truist Financial upgraded shares of Mercury Systems to a “strong-buy” rating in a report on Friday, May 1st. The Goldman Sachs Group raised their target price on shares of Mercury Systems from $60.00 to $68.00 and gave the company a “sell” rating in a research report on Monday, May 11th. Jefferies Financial Group restated a “hold” rating and issued a $105.00 price target on shares of Mercury Systems in a report on Monday, June 1st. Canaccord Genuity Group increased their target price on Mercury Systems from $102.00 to $106.00 and gave the company a “buy” rating in a research report on Thursday, May 7th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Mercury Systems in a report on Tuesday, April 21st.

Insider Buying and Selling

In other news, EVP Steven Ratner sold 2,000 shares of the firm’s stock in a transaction that occurred on Monday, May 11th. The shares were sold at an average price of $92.46, for a total transaction of $184,920.00. Following the sale, the executive vice president owned 32,238 shares of the company’s stock, valued at $2,980,725.48. This trade represents a 5.84% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP David E. Farnsworth sold 3,625 shares of the firm’s stock in a transaction that occurred on Thursday, April 16th. The shares were sold at an average price of $84.87, for a total value of $307,653.75. Following the completion of the transaction, the executive vice president owned 157,701 shares in the company, valued at approximately $13,384,083.87. This trade represents a 2.25% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 21,875 shares of company stock worth $2,040,874 over the last ninety days. 1.40% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Mercury Systems

Several large investors have recently made changes to their positions in MRCY. Signaturefd LLC increased its holdings in Mercury Systems by 15.4% in the 4th quarter. Signaturefd LLC now owns 804 shares of the technology company’s stock valued at $59,000 after purchasing an additional 107 shares during the last quarter. Maryland State Retirement & Pension System boosted its position in shares of Mercury Systems by 1.8% during the fourth quarter. Maryland State Retirement & Pension System now owns 7,714 shares of the technology company’s stock worth $563,000 after buying an additional 134 shares during the period. PNC Financial Services Group Inc. grew its stake in shares of Mercury Systems by 2.0% in the third quarter. PNC Financial Services Group Inc. now owns 7,175 shares of the technology company’s stock valued at $555,000 after buying an additional 142 shares in the last quarter. AlphaQuest LLC grew its stake in shares of Mercury Systems by 41.9% in the third quarter. AlphaQuest LLC now owns 569 shares of the technology company’s stock valued at $44,000 after buying an additional 168 shares in the last quarter. Finally, GAMMA Investing LLC raised its holdings in shares of Mercury Systems by 11.3% in the 4th quarter. GAMMA Investing LLC now owns 1,781 shares of the technology company’s stock valued at $130,000 after buying an additional 181 shares during the period. 95.99% of the stock is currently owned by institutional investors and hedge funds.

Mercury Systems Price Performance

Shares of MRCY stock opened at $108.82 on Wednesday. Mercury Systems has a 52-week low of $48.75 and a 52-week high of $118.57. The company has a debt-to-equity ratio of 0.40, a quick ratio of 2.15 and a current ratio of 3.19. The firm has a market capitalization of $6.53 billion, a P/E ratio of -453.42 and a beta of 0.94. The stock has a 50 day moving average price of $89.72 and a 200 day moving average price of $84.90.

Mercury Systems (NASDAQ:MRCY) last released its earnings results on Tuesday, May 5th. The technology company reported $0.27 earnings per share for the quarter, topping analysts’ consensus estimates of $0.06 by $0.21. The business had revenue of $235.76 million for the quarter, compared to analyst estimates of $208.56 million. Mercury Systems had a positive return on equity of 2.22% and a negative net margin of 1.46%.The business’s revenue was up 11.5% compared to the same quarter last year. During the same quarter last year, the firm posted $0.06 earnings per share. As a group, sell-side analysts predict that Mercury Systems will post 0.18 earnings per share for the current year.

About Mercury Systems

Mercury Systems, Inc (NASDAQ: MRCY) is a technology company that designs, manufactures and markets secure processing subsystems for aerospace and defense applications. The company’s products are built to address the stringent security, safety and reliability requirements of mission-critical programs, with a focus on radar, electronic warfare, intelligence and other sensor and processing functions. Mercury’s offerings encompass rugged embedded computing modules, high-performance radio frequency (RF) and microwave components, digital signal processing subsystems and secure networking solutions.

Since its origins in advanced signal processing, Mercury Systems has expanded its capabilities through a combination of internal development and targeted acquisitions.