Guggenheim Upgrades Mercury Systems (NASDAQ:MRCY) to Strong-Buy

Mercury Systems (NASDAQ:MRCY) was upgraded by research analysts at Guggenheim to a “strong-buy” rating in a research note issued on Monday, Zacks reports.

Several other equities analysts have also commented on MRCY. Jefferies Financial Group restated a “hold” rating and set a $115.00 price target on shares of Mercury Systems in a research report on Friday, July 10th. Canaccord Genuity Group lifted their price objective on shares of Mercury Systems from $106.00 to $128.00 and gave the company a “buy” rating in a research report on Thursday, August 20th. Weiss Ratings raised shares of Mercury Systems from a “sell (d-)” rating to a “sell (d)” rating in a research note on Monday, August 24th. Zacks Research cut shares of Mercury Systems from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, August 4th. Finally, JPMorgan Chase & Co. upped their target price on shares of Mercury Systems from $99.00 to $101.00 and gave the stock a “neutral” rating in a research report on Monday, July 13th. Two equities research analysts have rated the stock with a Strong Buy rating, five have given a Buy rating, four have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat, Mercury Systems presently has a consensus rating of “Moderate Buy” and an average target price of $110.55.

Mercury Systems Trading Up 0.3%

NASDAQ:MRCY opened at $87.25 on Monday. Mercury Systems has a 12-month low of $65.04 and a 12-month high of $128.45. The firm has a market capitalization of $5.25 billion, a P/E ratio of -174.50 and a beta of 0.98. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.96 and a quick ratio of 1.85. The business has a 50 day simple moving average of $96.64 and a 200 day simple moving average of $94.83.

Mercury Systems (NASDAQ:MRCY) last issued its earnings results on Tuesday, August 18th. The technology company reported $0.37 earnings per share for the quarter, missing the consensus estimate of $0.38 by ($0.01). The company had revenue of $289.78 million during the quarter, compared to analyst estimates of $266.09 million. Mercury Systems had a positive return on equity of 1.29% and a negative net margin of 3.02%.Mercury Systems’s quarterly revenue was up 6.1% on a year-over-year basis. During the same period in the prior year, the business earned $0.47 earnings per share. Equities research analysts predict that Mercury Systems will post 0.91 EPS for the current year.

Insiders Place Their Bets

In other news, EVP David Farnsworth sold 8,155 shares of the stock in a transaction on Wednesday, August 19th. The stock was sold at an average price of $100.31, for a total value of $818,028.05. Following the completion of the transaction, the executive vice president owned 124,579 shares of the company’s stock, valued at approximately $12,496,519.49. This represents a 6.14% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO William Ballhaus sold 111,076 shares of the stock in a transaction on Tuesday, August 25th. The stock was sold at an average price of $87.12, for a total value of $9,676,941.12. Following the completion of the transaction, the chief executive officer directly owned 342,436 shares of the company’s stock, valued at approximately $29,833,024.32. The trade was a 24.49% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 450,186 shares of company stock valued at $41,770,650 in the last quarter. 1.40% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Mercury Systems

A number of institutional investors and hedge funds have recently bought and sold shares of MRCY. Integrated Wealth Concepts LLC bought a new stake in shares of Mercury Systems during the 2nd quarter worth about $87,000. IFP Advisors Inc boosted its holdings in shares of Mercury Systems by 250.8% in the second quarter. IFP Advisors Inc now owns 463 shares of the technology company’s stock valued at $57,000 after acquiring an additional 331 shares in the last quarter. Nykredit A S bought a new position in shares of Mercury Systems in the second quarter valued at approximately $265,000. Corient Private Wealth LP increased its stake in shares of Mercury Systems by 92.4% during the second quarter. Corient Private Wealth LP now owns 11,338 shares of the technology company’s stock valued at $1,387,000 after acquiring an additional 5,446 shares during the period. Finally, HB Wealth Management LLC acquired a new position in shares of Mercury Systems during the second quarter valued at approximately $376,000. Institutional investors own 95.99% of the company’s stock.

About Mercury Systems

Mercury Systems, Inc is a technology company that develops and manufactures secure, high-performance computing and sensor-processing solutions for the aerospace and defense industries. Its products are designed for use in mission-critical applications where ruggedness, rapid data processing, cybersecurity and long operational life are essential.

The company’s offerings include embedded computing systems, digital signal processing technologies, radio-frequency and microwave components, avionics systems, sensor-processing solutions, electronic warfare technology and secure communications products.