Mercury Systems (NASDAQ:MRCY) Coverage Initiated by Analysts at Oppenheimer

Equities researchers at Oppenheimer began coverage on shares of Mercury Systems (NASDAQ:MRCY) in a report released on Thursday, Briefing.com reports. The firm set an “outperform” rating and a $90.00 price target on the technology company’s stock. Oppenheimer’s price objective suggests a potential upside of 19.22% from the company’s current price.

A number of other equities research analysts also recently commented on the company. Wall Street Zen downgraded Mercury Systems from a “buy” rating to a “hold” rating in a report on Saturday, July 18th. JPMorgan Chase & Co. upped their price target on shares of Mercury Systems from $99.00 to $101.00 and gave the stock a “neutral” rating in a research note on Monday, July 13th. Guggenheim assumed coverage on shares of Mercury Systems in a report on Monday, September 14th. They issued a “buy” rating and a $115.00 price target for the company. Deutsche Bank Aktiengesellschaft downgraded shares of Mercury Systems to a “hold” rating in a report on Wednesday, August 12th. Finally, Zacks Research downgraded shares of Mercury Systems from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 4th. Two investment analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating, four have issued a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $110.73.

Mercury Systems Price Performance

Shares of MRCY opened at $75.49 on Thursday. Mercury Systems has a twelve month low of $65.04 and a twelve month high of $128.45. The stock’s 50 day moving average is $85.38 and its two-hundred day moving average is $94.79. The firm has a market capitalization of $4.59 billion, a PE ratio of 232.91 and a beta of 0.97. The company has a current ratio of 2.96, a quick ratio of 1.85 and a debt-to-equity ratio of 0.29.

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

Insider Buying and Selling at Mercury Systems

In other Mercury Systems news, CEO William Ballhaus sold 111,076 shares of the business’s stock in a transaction on Tuesday, August 25th. The stock was sold at an average price of $87.12, for a total transaction of $9,676,941.12. Following the sale, the chief executive officer directly owned 342,436 shares in the company, valued at approximately $29,833,024.32. The trade was a 24.49% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP David Farnsworth sold 8,155 shares of the business’s 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 sale, the executive vice president owned 124,579 shares in the company, valued at approximately $12,496,519.49. The trade was a 6.14% decrease in their ownership of the stock. 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. Over the last ninety days, insiders have sold 451,186 shares of company stock valued at $41,857,170. 0.99% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. BlackRock Inc. purchased a new position in shares of Mercury Systems during the 2nd quarter worth approximately $1,146,342,000. Deutsche Bank AG purchased a new stake in Mercury Systems in the 2nd quarter valued at approximately $17,454,000. Rice Hall James & Associates LLC purchased a new stake in Mercury Systems in the 2nd quarter valued at approximately $4,866,000. American Capital Management Inc. acquired a new stake in Mercury Systems during the 2nd quarter valued at $59,460,000. Finally, Manatuck Hill Partners LLC acquired a new stake in Mercury Systems during the 2nd quarter valued at $2,251,000. Institutional investors and hedge funds own 95.99% of the company’s stock.

Mercury Systems Company Profile

Mercury Systems, Inc is an aerospace and defense technology company that develops and manufactures mission-critical computing and electronic systems. Its products are designed for use in aircraft, unmanned systems, naval vessels, ground vehicles, radar platforms and other defense applications.

The company provides embedded computing solutions, including high-performance processors, ruggedized computers, secure servers, data-storage systems and software. Its portfolio also includes radio-frequency and microwave components, electronic warfare systems, signal processing technologies and systems used for radar, communications, avionics and intelligence, surveillance and reconnaissance missions.

Founded in 1981 and headquartered in Andover, Massachusetts, Mercury Systems primarily serves the U.S.