Shares of Mercury Systems Inc (NASDAQ:MRCY – Get Free Report) have been assigned an average rating of “Moderate Buy” from the thirteen ratings firms that are presently covering the firm, Marketbeat.com reports. Two equities research analysts have rated the stock with a sell recommendation, four have given a hold recommendation, five have given a buy recommendation and two have issued a strong buy recommendation on the company. The average twelve-month target price among brokerages that have updated their coverage on the stock in the last year is $110.5455.
A number of research firms recently commented on MRCY. Jefferies Financial Group reiterated a “hold” rating and set a $115.00 price target on shares of Mercury Systems in a report on Friday, July 10th. Royal Bank Of Canada raised their price target on shares of Mercury Systems from $105.00 to $120.00 and gave the stock an “outperform” rating in a report on Wednesday, August 19th. Deutsche Bank Aktiengesellschaft cut shares of Mercury Systems to a “hold” rating in a research report on Wednesday, August 12th. Canaccord Genuity Group upped their price objective on shares of Mercury Systems from $106.00 to $128.00 and gave the company a “buy” rating in a research note on Thursday, August 20th. Finally, Weiss Ratings upgraded shares of Mercury Systems from a “sell (d-)” rating to a “sell (d)” rating in a report on Monday, August 24th.
Read Our Latest Analysis on MRCY
Mercury Systems Price Performance
Mercury Systems (NASDAQ:MRCY – Get Free Report) last announced its quarterly earnings data 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). Mercury Systems had a negative net margin of 3.02% and a positive return on equity of 1.29%. The company had revenue of $289.78 million during the quarter, compared to the consensus estimate of $266.09 million. During the same quarter in the previous year, the firm posted $0.47 EPS. The business’s revenue for the quarter was up 6.1% compared to the same quarter last year. As a group, analysts predict that Mercury Systems will post 0.91 earnings per share for the current year.
Insider Transactions at Mercury Systems
In other news, EVP David E. Farnsworth sold 8,155 shares of Mercury Systems stock in a transaction that occurred 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 directly owned 124,579 shares in the company, valued at approximately $12,496,519.49. This trade represents a 6.14% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO William L. Ballhaus sold 111,076 shares of Mercury Systems stock in a transaction on Tuesday, August 25th. The shares were sold at an average price of $87.12, for a total transaction of $9,676,941.12. Following the completion of the sale, the chief executive officer owned 342,436 shares in the company, valued at approximately $29,833,024.32. This trade represents a 24.49% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 450,186 shares of company stock worth $41,770,650. 1.40% of the stock is owned by company insiders.
Hedge Funds Weigh In On Mercury Systems
A number of institutional investors have recently bought and sold shares of MRCY. BlackRock Inc. purchased a new stake in Mercury Systems in the second quarter worth about $1,146,342,000. Bamco Inc. NY bought a new position in shares of Mercury Systems during the second quarter valued at approximately $74,244,000. American Capital Management Inc. purchased a new position in shares of Mercury Systems during the second quarter valued at approximately $59,460,000. William Blair Investment Management LLC purchased a new position in shares of Mercury Systems during the second quarter valued at approximately $46,453,000. Finally, Bank of New York Mellon Corp bought a new stake in shares of Mercury Systems in the 2nd quarter worth approximately $38,438,000. 95.99% of the stock is owned by institutional investors.
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.
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