Mercury Systems (NASDAQ:MRCY) Cut to Hold at Wall Street Zen

Wall Street Zen downgraded shares of Mercury Systems (NASDAQ:MRCY) from a buy rating to a hold rating in a research note published on Saturday morning.

MRCY has been the subject of several other research reports. Robert W. Baird upped their price target on shares of Mercury Systems from $58.00 to $70.00 and gave the stock an “outperform” rating in a research report on Tuesday, August 12th. Truist Financial upped their price target on shares of Mercury Systems from $60.00 to $71.00 and gave the stock a “buy” rating in a research report on Tuesday, August 12th. Zacks Research lowered shares of Mercury Systems from a “strong-buy” rating to a “hold” rating in a research report on Friday, September 19th. UBS Group set a $88.00 price target on shares of Mercury Systems in a research report on Thursday, October 2nd. Finally, JPMorgan Chase & Co. increased their price objective on shares of Mercury Systems from $56.00 to $68.00 and gave the stock a “neutral” rating in a research report on Tuesday, August 12th. Two analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating, three have given a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $70.67.

Mercury Systems Stock Performance

NASDAQ:MRCY opened at $76.69 on Friday. The firm has a 50 day simple moving average of $70.63 and a 200-day simple moving average of $56.82. The company has a debt-to-equity ratio of 0.40, a current ratio of 3.52 and a quick ratio of 2.41. The firm has a market cap of $4.60 billion, a PE ratio of -116.20, a P/E/G ratio of 3.06 and a beta of 0.82. Mercury Systems has a 1-year low of $32.32 and a 1-year high of $85.33.

Mercury Systems (NASDAQ:MRCY) last issued its quarterly earnings results on Tuesday, June 7th. The technology company reported $0.64 EPS for the quarter. Mercury Systems had a negative net margin of 4.16% and a positive return on equity of 0.58%. The firm had revenue of $256.86 million during the quarter. On average, equities analysts expect that Mercury Systems will post -0.08 EPS for the current year.

Insiders Place Their Bets

In related news, EVP David E. Farnsworth sold 7,572 shares of the firm’s stock in a transaction on Tuesday, August 19th. The shares were sold at an average price of $64.46, for a total transaction of $488,091.12. Following the completion of the sale, the executive vice president directly owned 161,326 shares of the company’s stock, valued at approximately $10,399,073.96. This trade represents a 4.48% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO William L. Ballhaus sold 13,050 shares of the business’s stock in a transaction on Tuesday, August 19th. The stock was sold at an average price of $64.46, for a total transaction of $841,203.00. Following the completion of the transaction, the chief executive officer owned 374,976 shares in the company, valued at $24,170,952.96. This represents a 3.36% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 848,980 shares of company stock valued at $55,529,247. Corporate insiders own 1.40% of the company’s stock.

Institutional Trading of Mercury Systems

A number of hedge funds have recently made changes to their positions in MRCY. Hilltop National Bank increased its stake in shares of Mercury Systems by 27.2% in the third quarter. Hilltop National Bank now owns 2,608 shares of the technology company’s stock worth $202,000 after buying an additional 558 shares during the last quarter. GAMMA Investing LLC grew its holdings in Mercury Systems by 21.0% during the 3rd quarter. GAMMA Investing LLC now owns 1,600 shares of the technology company’s stock worth $124,000 after acquiring an additional 278 shares in the last quarter. Corient Private Wealth LLC grew its holdings in Mercury Systems by 132.3% during the 2nd quarter. Corient Private Wealth LLC now owns 14,690 shares of the technology company’s stock worth $791,000 after acquiring an additional 8,365 shares in the last quarter. Osaic Holdings Inc. grew its holdings in Mercury Systems by 53.2% during the 2nd quarter. Osaic Holdings Inc. now owns 599 shares of the technology company’s stock worth $32,000 after acquiring an additional 208 shares in the last quarter. Finally, Squarepoint Ops LLC grew its holdings in Mercury Systems by 406.1% during the 2nd quarter. Squarepoint Ops LLC now owns 45,871 shares of the technology company’s stock worth $2,471,000 after acquiring an additional 36,807 shares in the last quarter. Institutional investors and hedge funds own 95.99% of the company’s stock.

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.