Mercury Systems Inc (NASDAQ:MRCY – Get Free Report) reached a new 52-week low on Thursday. The stock traded as low as $64.88 and last traded at $65.45, with a volume of 478,277 shares trading hands. The stock had previously closed at $71.76.
Wall Street Analyst Weigh In
Several research analysts have weighed in on the company. Deutsche Bank Aktiengesellschaft lowered Mercury Systems to a “hold” rating in a research report on Wednesday, August 12th. Guggenheim assumed coverage on Mercury Systems in a research note on Monday, September 14th. They issued a “buy” rating and a $115.00 price target on the stock. Royal Bank Of Canada cut their price target on shares of Mercury Systems from $120.00 to $105.00 and set an “outperform” rating for the company in a report on Wednesday, October 28th. Oppenheimer started coverage on Mercury Systems in a research report on Thursday, October 22nd. They issued an “outperform” rating and a $90.00 price objective on the stock. Finally, Piper Sandler reduced their target price on Mercury Systems from $131.00 to $107.00 and set an “overweight” rating on the stock in a report on Friday, October 23rd. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, four have given a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $107.90.
Check Out Our Latest Report on MRCY
Mercury Systems Stock Down 8.8%
The company has a current ratio of 2.96, a quick ratio of 1.85 and a debt-to-equity ratio of 0.29. The stock’s 50-day moving average price is $81.18 and its 200-day moving average price is $91.48. The company has a market cap of $3.98 billion, a P/E ratio of -130.90 and a beta of 0.98.
Mercury Systems (NASDAQ:MRCY – Get Free Report) last issued its earnings results on Tuesday, August 18th. The technology company reported $0.37 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.38 by ($0.01). The firm had revenue of $289.78 million during the quarter, compared to the consensus estimate of $266.09 million. Mercury Systems had a negative net margin of 3.02% and a positive return on equity of 1.29%. The business’s quarterly revenue was up 6.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.47 earnings per share. As a group, research analysts forecast that Mercury Systems Inc will post 0.91 EPS for the current year.
Insider Transactions at Mercury Systems
In related news, EVP David E. Farnsworth sold 8,155 shares of Mercury Systems 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 sale, the executive vice president owned 124,579 shares of the company’s stock, valued at $12,496,519.49. The trade was a 6.14% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 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 that occurred 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 transaction, the chief executive officer directly owned 342,436 shares in the company, valued at $29,833,024.32. This represents a 24.49% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 452,186 shares of company stock valued at $41,933,170. 0.99% of the stock is owned by insiders.
Institutional Inflows and Outflows
Several large investors have recently modified their holdings of the business. Public Employees Retirement System of Ohio purchased a new stake in Mercury Systems in the second quarter worth about $43,000. Rockefeller Capital Management L.P. increased its holdings in shares of Mercury Systems by 53.6% in the fourth quarter. Rockefeller Capital Management L.P. now owns 653 shares of the technology company’s stock valued at $48,000 after purchasing an additional 228 shares during the period. Barrow Hanley Mewhinney & Strauss LLC purchased a new stake in Mercury Systems in the second quarter valued at approximately $52,000. IFP Advisors Inc increased its stake 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 worth $57,000 after acquiring an additional 331 shares during the period. Finally, Quantbot Technologies LP purchased a new stake in Mercury Systems in the second quarter valued at $82,000. Hedge funds and other institutional investors 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.
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