Analysts Set Mercury Systems Inc (NASDAQ:MRCY) Price Target at $86.33

Mercury Systems Inc (NASDAQ:MRCY) has been given a consensus recommendation of “Hold” by the ten research firms that are covering the stock, Marketbeat.com reports. Two equities research analysts have rated the stock with a sell recommendation, three have assigned a hold recommendation, four have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year price target among brokers that have updated their coverage on the stock in the last year is $86.3333.

A number of brokerages have weighed in on MRCY. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $105.00 price objective on shares of Mercury Systems in a report on Wednesday, February 4th. The Goldman Sachs Group lifted their price objective on Mercury Systems from $49.00 to $55.00 and gave the company a “sell” rating in a report on Tuesday, January 20th. Jefferies Financial Group reduced their price target on Mercury Systems from $85.00 to $80.00 and set a “hold” rating for the company in a report on Tuesday, April 7th. Truist Financial raised their price target on Mercury Systems from $102.00 to $109.00 and gave the company a “buy” rating in a report on Wednesday, February 4th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Mercury Systems in a report on Thursday, January 22nd.

Insiders Place Their Bets

In other news, CAO Douglas Munro sold 582 shares of the firm’s stock in a transaction that occurred on Tuesday, February 17th. The stock was sold at an average price of $83.56, for a total value of $48,631.92. Following the completion of the sale, the chief accounting officer directly owned 14,328 shares of the company’s stock, valued at $1,197,247.68. This trade represents a 3.90% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Howard L. Lance sold 4,832 shares of the firm’s stock in a transaction that occurred on Wednesday, February 25th. The shares were sold at an average price of $88.98, for a total value of $429,951.36. Following the completion of the sale, the director directly owned 27,272 shares of the company’s stock, valued at $2,426,662.56. This represents a 15.05% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 859,758 shares of company stock valued at $74,481,931 over the last 90 days. 1.40% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Mercury Systems

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Hsbc Holdings PLC acquired a new stake in shares of Mercury Systems during the 4th quarter valued at approximately $248,000. Rockefeller Capital Management L.P. lifted its position in shares of Mercury Systems by 53.6% during the 4th quarter. Rockefeller Capital Management L.P. now owns 653 shares of the technology company’s stock valued at $48,000 after acquiring an additional 228 shares during the period. Corient Private Wealth LLC lifted its position in shares of Mercury Systems by 35.7% during the 4th quarter. Corient Private Wealth LLC now owns 7,811 shares of the technology company’s stock valued at $573,000 after acquiring an additional 2,056 shares during the period. Corecam Pte. Ltd. acquired a new stake in shares of Mercury Systems during the 4th quarter valued at approximately $321,000. Finally, T. Rowe Price Investment Management Inc. lifted its position in shares of Mercury Systems by 1.4% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 1,542,851 shares of the technology company’s stock valued at $112,644,000 after acquiring an additional 21,182 shares during the period. 95.99% of the stock is currently owned by institutional investors and hedge funds.

Mercury Systems Stock Performance

Shares of MRCY stock opened at $84.91 on Tuesday. The stock has a market capitalization of $5.10 billion, a PE ratio of -160.21, a price-to-earnings-growth ratio of 8.28 and a beta of 0.84. Mercury Systems has a 52-week low of $44.01 and a 52-week high of $103.84. The stock’s 50-day moving average price is $82.02 and its 200 day moving average price is $80.42. The company has a quick ratio of 2.04, a current ratio of 2.96 and a debt-to-equity ratio of 0.41.

Mercury Systems (NASDAQ:MRCY) last issued its quarterly earnings results on Tuesday, February 3rd. The technology company reported $0.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.07 by $0.09. The firm had revenue of $232.87 million for the quarter, compared to analysts’ expectations of $209.96 million. Mercury Systems had a positive return on equity of 1.28% and a negative net margin of 3.23%.The firm’s revenue for the quarter was up 4.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.07 EPS. As a group, equities research analysts forecast that Mercury Systems will post -0.08 EPS for the current year.

Mercury Systems Company Profile

Mercury Systems, Inc (NASDAQ: MRCY) is a technology company that designs, manufactures and markets secure processing subsystems for aerospace and defense applications. The company’s products are built to address the stringent security, safety and reliability requirements of mission-critical programs, with a focus on radar, electronic warfare, intelligence and other sensor and processing functions. Mercury’s offerings encompass rugged embedded computing modules, high-performance radio frequency (RF) and microwave components, digital signal processing subsystems and secure networking solutions.

Since its origins in advanced signal processing, Mercury Systems has expanded its capabilities through a combination of internal development and targeted acquisitions.