Mercury Systems, Inc. (NASDAQ:MRCY) Receives Average Rating of “Reduce” from Analysts

Shares of Mercury Systems, Inc. (NASDAQ:MRCY) have earned an average rating of “Reduce” from the eight ratings firms that are covering the firm, MarketBeat Ratings reports. Three research analysts have rated the stock with a sell recommendation, four have issued a hold recommendation and one has given a buy recommendation to the company. The average 12-month price objective among brokerages that have issued a report on the stock in the last year is $33.50.

MRCY has been the subject of a number of research analyst reports. StockNews.com upgraded Mercury Systems from a “sell” rating to a “hold” rating in a report on Saturday, October 5th. Robert W. Baird raised their target price on Mercury Systems from $26.00 to $37.00 and gave the company a “neutral” rating in a report on Wednesday, August 14th. Alembic Global Advisors upgraded Mercury Systems from a “neutral” rating to an “overweight” rating and set a $48.00 target price for the company in a report on Monday, August 19th. Royal Bank of Canada raised their target price on Mercury Systems from $30.00 to $35.00 and gave the company a “sector perform” rating in a report on Wednesday, August 14th. Finally, Truist Financial raised their target price on Mercury Systems from $26.00 to $31.00 and gave the company a “hold” rating in a report on Wednesday, August 14th.

Insider Buying and Selling at Mercury Systems

In other Mercury Systems news, CEO William L. Ballhaus sold 6,549 shares of the stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $39.49, for a total value of $258,620.01. Following the sale, the chief executive officer now owns 353,481 shares of the company’s stock, valued at $13,958,964.69. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, Director Debora A. Plunkett sold 1,843 shares of the firm’s stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $38.07, for a total transaction of $70,163.01. Following the transaction, the director now owns 11,339 shares in the company, valued at $431,675.73. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO William L. Ballhaus sold 6,549 shares of the firm’s stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $39.49, for a total value of $258,620.01. Following the transaction, the chief executive officer now owns 353,481 shares in the company, valued at $13,958,964.69. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 22,099 shares of company stock valued at $865,740 in the last quarter. Corporate insiders own 1.80% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in MRCY. Creative Planning grew its stake in shares of Mercury Systems by 22.8% in the 3rd quarter. Creative Planning now owns 9,788 shares of the technology company’s stock valued at $362,000 after purchasing an additional 1,818 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund purchased a new position in shares of Mercury Systems in the 2nd quarter valued at approximately $3,079,000. Clearline Capital LP grew its stake in shares of Mercury Systems by 18.4% in the 2nd quarter. Clearline Capital LP now owns 526,611 shares of the technology company’s stock valued at $14,213,000 after purchasing an additional 81,826 shares during the last quarter. The Manufacturers Life Insurance Company grew its stake in shares of Mercury Systems by 232.7% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 29,411 shares of the technology company’s stock valued at $794,000 after purchasing an additional 20,571 shares during the last quarter. Finally, Dark Forest Capital Management LP purchased a new position in shares of Mercury Systems in the 2nd quarter valued at approximately $526,000. Hedge funds and other institutional investors own 95.99% of the company’s stock.

Mercury Systems Stock Performance

NASDAQ MRCY opened at $35.99 on Friday. The stock has a market cap of $2.14 billion, a PE ratio of -15.31 and a beta of 0.70. The company has a current ratio of 4.07, a quick ratio of 2.64 and a debt-to-equity ratio of 0.40. Mercury Systems has a twelve month low of $25.31 and a twelve month high of $42.72. The stock has a fifty day simple moving average of $36.92 and a 200-day simple moving average of $32.53.

Mercury Systems (NASDAQ:MRCY) last released its quarterly earnings results on Tuesday, August 13th. The technology company reported $0.09 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.23) by $0.32. The business had revenue of $248.56 million during the quarter, compared to analysts’ expectations of $223.80 million. Mercury Systems had a negative return on equity of 4.92% and a negative net margin of 16.48%. Equities analysts anticipate that Mercury Systems will post -0.52 earnings per share for the current year.

Mercury Systems Company Profile

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.