Mercury Systems (NASDAQ:MRCY) Price Target Raised to $33.00

Mercury Systems (NASDAQ:MRCY) had its price target raised by equities researchers at The Goldman Sachs Group from $30.00 to $33.00 in a research report issued on Monday,Benzinga reports. The firm presently has a “sell” rating on the technology company’s stock. The Goldman Sachs Group’s target price suggests a potential downside of 29.00% from the stock’s previous close.

Several other analysts have also commented on MRCY. Royal Bank of Canada lifted their price objective on shares of Mercury Systems from $48.00 to $50.00 and gave the stock a “sector perform” rating in a research report on Wednesday, May 7th. Truist Financial upgraded Mercury Systems from a “hold” rating to a “buy” rating and increased their price objective for the stock from $49.00 to $56.00 in a report on Thursday, March 13th. Baird R W upgraded Mercury Systems from a “hold” rating to a “strong-buy” rating in a report on Wednesday, February 5th. Finally, Robert W. Baird upgraded Mercury Systems from a “neutral” rating to an “outperform” rating and increased their price objective for the stock from $37.00 to $58.00 in a report on Wednesday, February 5th. One analyst has rated the stock with a sell rating, four have given a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Mercury Systems has an average rating of “Hold” and an average price target of $46.71.

Mercury Systems Price Performance

Shares of NASDAQ MRCY traded up $0.14 during trading hours on Monday, hitting $46.48. 324,527 shares of the stock were exchanged, compared to its average volume of 577,510. The company has a debt-to-equity ratio of 0.41, a quick ratio of 2.36 and a current ratio of 3.62. The company has a market cap of $2.78 billion, a PE ratio of -29.79 and a beta of 0.70. The company’s fifty day simple moving average is $46.16 and its two-hundred day simple moving average is $42.94. Mercury Systems has a 1-year low of $26.48 and a 1-year high of $52.25.

Mercury Systems (NASDAQ:MRCY) last issued its quarterly earnings data on Tuesday, May 6th. The technology company reported $0.06 EPS for the quarter, meeting the consensus estimate of $0.06. The business had revenue of $211.36 million during the quarter, compared to the consensus estimate of $204.25 million. Mercury Systems had a negative net margin of 10.23% and a negative return on equity of 2.03%. The firm’s revenue was up 1.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($0.26) EPS. On average, sell-side analysts predict that Mercury Systems will post -0.08 EPS for the current year.

Insider Buying and Selling at Mercury Systems

In other Mercury Systems news, Director Jana Partners Management, Lp sold 88,152 shares of Mercury Systems stock in a transaction dated Thursday, May 8th. The stock was sold at an average price of $46.27, for a total transaction of $4,078,793.04. Following the completion of the transaction, the director now owns 6,861,313 shares in the company, valued at approximately $317,472,952.51. This trade represents a 1.27% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CAO Douglas Munro sold 595 shares of Mercury Systems stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $44.12, for a total value of $26,251.40. Following the completion of the transaction, the chief accounting officer now owns 14,572 shares of the company’s stock, valued at approximately $642,916.64. This represents a 3.92% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 93,466 shares of company stock worth $4,313,247 over the last ninety days. Company insiders own 1.60% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in MRCY. Barclays PLC lifted its stake in Mercury Systems by 471.3% during the third quarter. Barclays PLC now owns 175,562 shares of the technology company’s stock worth $6,496,000 after purchasing an additional 144,831 shares in the last quarter. JPMorgan Chase & Co. grew its stake in shares of Mercury Systems by 3.9% during the third quarter. JPMorgan Chase & Co. now owns 46,220 shares of the technology company’s stock worth $1,710,000 after purchasing an additional 1,731 shares in the last quarter. Bouvel Investment Partners LLC acquired a new position in shares of Mercury Systems during the fourth quarter worth $1,307,000. Harel Insurance Investments & Financial Services Ltd. grew its stake in shares of Mercury Systems by 52.5% during the fourth quarter. Harel Insurance Investments & Financial Services Ltd. now owns 4,502 shares of the technology company’s stock worth $189,000 after purchasing an additional 1,549 shares in the last quarter. Finally, KBC Group NV boosted its stake in Mercury Systems by 49.4% in the fourth quarter. KBC Group NV now owns 2,496 shares of the technology company’s stock valued at $105,000 after acquiring an additional 825 shares in the last quarter. 95.99% of the stock is currently owned by institutional investors and hedge funds.

About Mercury Systems

Mercury Systems, Inc, a technology company, manufactures and sells components, products, modules, and subsystems for aerospace and defense industries in the United States, Europe, and the Asia Pacific. Its products and solutions are deployed in approximately 300 programs with 25 defense contractors and commercial aviation customers.