Truist Financial Increases Mercury Systems (NASDAQ:MRCY) Price Target to $109.00

Mercury Systems (NASDAQ:MRCY) had its price objective raised by equities researchers at Truist Financial from $102.00 to $109.00 in a research report issued on Wednesday,Benzinga reports. The firm presently has a “buy” rating on the technology company’s stock. Truist Financial’s target price points to a potential upside of 9.79% from the company’s current price.

Several other research firms also recently weighed in on MRCY. Canaccord Genuity Group set a $102.00 price target on Mercury Systems in a research note on Wednesday. Raymond James Financial reiterated a “strong-buy” rating and issued a $100.00 target price on shares of Mercury Systems in a research note on Wednesday, November 5th. The Goldman Sachs Group upped their price target on shares of Mercury Systems from $49.00 to $55.00 and gave the company a “sell” rating in a research note on Tuesday, January 20th. Wall Street Zen lowered shares of Mercury Systems from a “buy” rating to a “hold” rating in a research note on Saturday, October 11th. Finally, Royal Bank Of Canada set a $95.00 target price on Mercury Systems and gave the stock an “outperform” rating in a research report on Wednesday, November 5th. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, two have given a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, Mercury Systems presently has an average rating of “Hold” and an average target price of $85.88.

Mercury Systems Stock Up 5.7%

MRCY opened at $99.28 on Wednesday. The company’s 50-day moving average price is $82.80 and its two-hundred day moving average price is $74.30. The company has a quick ratio of 2.31, a current ratio of 3.37 and a debt-to-equity ratio of 0.40. Mercury Systems has a twelve month low of $39.89 and a twelve month high of $103.84. The stock has a market cap of $5.97 billion, a price-to-earnings ratio of -174.18, a PEG ratio of 4.16 and a beta of 0.75.

Mercury Systems (NASDAQ:MRCY) last posted its quarterly earnings results on Tuesday, November 4th. The technology company reported $0.26 EPS for the quarter, topping analysts’ consensus estimates of $0.08 by $0.18. Mercury Systems had a negative net margin of 3.53% and a positive return on equity of 1.14%. The company had revenue of $225.21 million for the quarter, compared to analysts’ expectations of $207.28 million. During the same quarter in the previous year, the firm posted $0.04 EPS. Mercury Systems’s revenue was up 10.2% on a year-over-year basis. As a group, equities analysts expect that Mercury Systems will post -0.08 earnings per share for the current year.

Insider Activity at Mercury Systems

In other news, Director Jana Partners Management, Lp sold 1,000,000 shares of Mercury Systems stock in a transaction dated Thursday, November 6th. The stock was sold at an average price of $75.45, for a total transaction of $75,450,000.00. Following the completion of the sale, the director owned 4,966,675 shares in the company, valued at approximately $374,735,628.75. This trade represents a 16.76% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CAO Douglas Munro sold 1,329 shares of the business’s stock in a transaction dated Wednesday, November 12th. The stock was sold at an average price of $73.42, for a total value of $97,575.18. Following the transaction, the chief accounting officer directly owned 14,678 shares of the company’s stock, valued at $1,077,658.76. The trade was a 8.30% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 1,003,029 shares of company stock valued at $75,673,358. Company insiders own 1.40% of the company’s stock.

Hedge Funds Weigh In On Mercury Systems

A number of hedge funds and other institutional investors have recently bought and sold shares of MRCY. Signaturefd LLC raised its position in shares of Mercury Systems by 15.4% during the 4th quarter. Signaturefd LLC now owns 804 shares of the technology company’s stock valued at $59,000 after buying an additional 107 shares in the last quarter. PNC Financial Services Group Inc. increased its stake in 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 acquiring an additional 142 shares during the last quarter. AlphaQuest LLC raised its position in Mercury Systems by 41.9% during the third quarter. AlphaQuest LLC now owns 569 shares of the technology company’s stock valued at $44,000 after purchasing an additional 168 shares in the last quarter. Nisa Investment Advisors LLC lifted its stake in Mercury Systems by 10.3% during the third quarter. Nisa Investment Advisors LLC now owns 1,941 shares of the technology company’s stock worth $150,000 after purchasing an additional 181 shares during the last quarter. Finally, GAMMA Investing LLC boosted 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 worth $130,000 after purchasing an additional 181 shares in the last quarter. 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.