Mercury Systems (NASDAQ:MRCY) Cut to “Hold” at Wall Street Zen

Wall Street Zen downgraded shares of Mercury Systems (NASDAQ:MRCY) from a buy rating to a hold rating in a research report report published on Saturday morning.

MRCY has been the subject of several other reports. The Goldman Sachs Group lifted their price objective on Mercury Systems from $60.00 to $68.00 and gave the stock a “sell” rating in a report on Monday, May 11th. Jefferies Financial Group restated a “hold” rating and set a $115.00 target price on shares of Mercury Systems in a research note on Friday, July 10th. Truist Financial raised shares of Mercury Systems to a “strong-buy” rating in a report on Friday, May 1st. Zacks Research upgraded shares of Mercury Systems from a “hold” rating to a “strong-buy” rating in a research note on Monday, July 6th. Finally, Canaccord Genuity Group boosted their price objective on shares of Mercury Systems from $102.00 to $106.00 and gave the company a “buy” rating in a report on Thursday, May 7th. Three research analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating, two have issued a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat, Mercury Systems has an average rating of “Moderate Buy” and an average target price of $95.78.

Mercury Systems Price Performance

Shares of MRCY opened at $94.73 on Friday. The company has a market capitalization of $5.69 billion, a P/E ratio of -394.71 and a beta of 0.93. The company has a quick ratio of 2.15, a current ratio of 3.19 and a debt-to-equity ratio of 0.40. The firm has a 50 day moving average of $107.55 and a 200 day moving average of $93.08. Mercury Systems has a twelve month low of $50.13 and a twelve month high of $128.45.

Mercury Systems (NASDAQ:MRCY) last released its quarterly earnings data on Tuesday, May 5th. The technology company reported $0.27 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.06 by $0.21. The business had revenue of $235.76 million for the quarter, compared to analysts’ expectations of $208.56 million. Mercury Systems had a positive return on equity of 2.22% and a negative net margin of 1.46%.The firm’s quarterly revenue was up 11.5% on a year-over-year basis. During the same period in the prior year, the firm posted $0.06 EPS. As a group, equities research analysts anticipate that Mercury Systems will post 0.35 earnings per share for the current fiscal year.

Insider Buying and Selling at Mercury Systems

In other Mercury Systems news, Director Howard L. Lance sold 9,250 shares of the firm’s stock in a transaction dated Tuesday, May 26th. The stock was sold at an average price of $99.76, for a total value of $922,780.00. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Steven Ratner sold 2,000 shares of the business’s stock in a transaction dated Monday, May 11th. The shares were sold at an average price of $92.46, for a total value of $184,920.00. Following the sale, the executive vice president owned 32,238 shares of the company’s stock, valued at approximately $2,980,725.48. This represents a 5.84% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 18,250 shares of company stock valued at $1,733,220. 1.40% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of MRCY. Osaic Holdings Inc. lifted its position in Mercury Systems by 53.2% during the second quarter. Osaic Holdings Inc. now owns 599 shares of the technology company’s stock valued at $32,000 after purchasing an additional 208 shares in the last quarter. Leonteq Securities AG purchased a new stake in Mercury Systems in the fourth quarter worth about $35,000. Hollencrest Capital Management purchased a new stake in Mercury Systems in the fourth quarter worth about $37,000. Federated Hermes Inc. purchased a new stake in Mercury Systems in the second quarter worth about $43,000. Finally, Rockefeller Capital Management L.P. raised its stake in shares of Mercury Systems by 53.6% in the fourth quarter. Rockefeller Capital Management L.P. now owns 653 shares of the technology company’s stock worth $48,000 after buying an additional 228 shares during the period. Hedge funds and other institutional investors own 95.99% of the company’s stock.

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.