Mercury Systems (NASDAQ:MRCY) Upgraded by Zacks Research to “Strong-Buy” Rating

Mercury Systems (NASDAQ:MRCY) was upgraded by stock analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a research note issued to investors on Monday,Zacks.com reports.

Other equities analysts also recently issued reports about the stock. Wall Street Zen upgraded shares of Mercury Systems from a “hold” rating to a “buy” rating in a research note on Saturday. Canaccord Genuity Group raised their price target on shares of Mercury Systems from $102.00 to $106.00 and gave the company a “buy” rating in a research note on Thursday, May 7th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Mercury Systems in a research report on Tuesday, April 21st. Jefferies Financial Group reiterated a “hold” rating and issued a $105.00 price objective on shares of Mercury Systems in a report on Monday, June 1st. Finally, The Goldman Sachs Group boosted their target price on shares of Mercury Systems from $60.00 to $68.00 and gave the stock a “sell” rating in a report on Monday, May 11th. Three equities research analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating, two have assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $91.00.

Mercury Systems Trading Down 5.9%

Shares of NASDAQ:MRCY opened at $115.83 on Monday. Mercury Systems has a 12-month low of $49.86 and a 12-month high of $128.45. The business has a 50 day moving average of $104.13 and a 200-day moving average of $91.22. The company has a quick ratio of 2.15, a current ratio of 3.19 and a debt-to-equity ratio of 0.40. The stock has a market cap of $6.95 billion, a PE ratio of -482.62 and a beta of 0.93.

Mercury Systems (NASDAQ:MRCY) last released its quarterly earnings results on Tuesday, May 5th. The technology company reported $0.27 earnings per share for the quarter, topping the consensus estimate of $0.06 by $0.21. The business had revenue of $235.76 million during the quarter, compared to analysts’ expectations of $208.56 million. Mercury Systems had a positive return on equity of 2.22% and a negative net margin of 1.46%.The firm’s revenue for the quarter was up 11.5% compared to the same quarter last year. During the same period last year, the firm posted $0.06 EPS. As a group, equities research analysts forecast that Mercury Systems will post 0.31 earnings per share for the current year.

Insider Activity

In other news, Director Orlando D. Carvalho sold 7,000 shares of the business’s stock in a transaction dated Tuesday, May 12th. The stock was sold at an average price of $89.36, for a total value of $625,520.00. Following the transaction, the director directly owned 52,448 shares of the company’s stock, valued at $4,686,753.28. The trade was a 11.77% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP David E. Farnsworth sold 3,625 shares of the company’s stock in a transaction dated Thursday, April 16th. The shares were sold at an average price of $84.87, for a total value of $307,653.75. Following the sale, the executive vice president owned 157,701 shares in the company, valued at approximately $13,384,083.87. The trade was a 2.25% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last ninety days, insiders sold 21,875 shares of company stock worth $2,040,874. 1.40% of the stock is owned by insiders.

Hedge Funds Weigh In On Mercury Systems

A number of institutional investors and hedge funds have recently modified their holdings of MRCY. State Street Corp increased its stake in shares of Mercury Systems by 12.1% in the 4th quarter. State Street Corp now owns 3,423,600 shares of the technology company’s stock valued at $249,957,000 after acquiring an additional 368,242 shares in the last quarter. Invesco Ltd. raised its holdings in shares of Mercury Systems by 25.1% during the fourth quarter. Invesco Ltd. now owns 1,910,742 shares of the technology company’s stock valued at $139,503,000 after purchasing an additional 383,299 shares during the period. T. Rowe Price Investment Management Inc. boosted 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 worth $112,644,000 after purchasing an additional 21,182 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of Mercury Systems by 3.6% during the 4th quarter. Geode Capital Management LLC now owns 1,368,659 shares of the technology company’s stock worth $99,940,000 after purchasing an additional 47,174 shares in the last quarter. Finally, Bamco Inc. NY grew its stake in shares of Mercury Systems by 4.9% in the 3rd quarter. Bamco Inc. NY now owns 1,295,284 shares of the technology company’s stock valued at $100,255,000 after buying an additional 60,483 shares during the period. 95.99% of the stock is currently owned by institutional investors.

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.