Truist Financial Raises Mercury Systems (NASDAQ:MRCY) Price Target to $60.00

Mercury Systems (NASDAQ:MRCY) had its price target hoisted by equities research analysts at Truist Financial from $56.00 to $60.00 in a research note issued to investors on Monday,Benzinga reports. The firm presently has a “buy” rating on the technology company’s stock. Truist Financial’s target price would suggest a potential upside of 18.15% from the company’s current price.

MRCY has been the subject of several other research reports. Robert W. Baird raised shares of Mercury Systems from a “neutral” rating to an “outperform” rating and increased their target price for the stock from $37.00 to $58.00 in a research note on Wednesday, February 5th. Royal Bank of Canada raised their price objective on shares of Mercury Systems from $48.00 to $50.00 and gave the company a “sector perform” rating in a research note on Wednesday, May 7th. The Goldman Sachs Group raised their price objective on shares of Mercury Systems from $30.00 to $33.00 and gave the company a “sell” rating in a research note on Monday, May 12th. Finally, Baird R W raised shares of Mercury Systems from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, February 5th. One investment analyst has rated the stock with a sell rating, four have given a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Mercury Systems has a consensus rating of “Hold” and a consensus target price of $47.29.

Mercury Systems Stock Performance

NASDAQ MRCY traded up $1.54 during mid-day trading on Monday, reaching $50.79. 94,655 shares of the stock were exchanged, compared to its average volume of 578,689. The business’s 50 day moving average is $46.82 and its 200-day moving average is $43.93. Mercury Systems has a 1 year low of $26.48 and a 1 year high of $52.25. The company has a market capitalization of $3.03 billion, a P/E ratio of -32.98 and a beta of 0.70. The company has a debt-to-equity ratio of 0.41, a quick ratio of 2.36 and a current ratio of 3.62.

Mercury Systems (NASDAQ:MRCY) last released its quarterly earnings data on Tuesday, May 6th. The technology company reported $0.06 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.06. Mercury Systems had a negative net margin of 10.23% and a negative return on equity of 2.03%. The firm had revenue of $211.36 million during the quarter, compared to analysts’ expectations of $204.25 million. During the same period last year, the business earned ($0.26) earnings per share. Mercury Systems’s revenue was up 1.5% compared to the same quarter last year. On average, equities research analysts forecast that Mercury Systems will post -0.08 EPS for the current fiscal year.

Insider Buying and Selling

In other news, EVP Steven Ratner sold 3,892 shares of Mercury Systems stock in a transaction dated Thursday, May 8th. The stock was sold at an average price of $47.70, for a total transaction of $185,648.40. Following the completion of the sale, the executive vice president now directly owns 56,187 shares in the company, valued at $2,680,119.90. The trade was a 6.48% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Jana Partners Management, Lp sold 88,152 shares of Mercury Systems stock in a transaction dated Thursday, May 8th. The shares were sold at an average price of $46.27, for a total value of $4,078,793.04. Following the sale, the director now owns 6,861,313 shares of the company’s stock, valued at approximately $317,472,952.51. This represents a 1.27% decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.60% of the stock is owned by corporate insiders.

Institutional Trading of Mercury Systems

Institutional investors have recently bought and sold shares of the stock. Conestoga Capital Advisors LLC lifted its stake in shares of Mercury Systems by 55.9% during the fourth quarter. Conestoga Capital Advisors LLC now owns 2,072,817 shares of the technology company’s stock valued at $87,058,000 after acquiring an additional 743,552 shares during the period. Millennium Management LLC lifted its stake in shares of Mercury Systems by 196.1% during the fourth quarter. Millennium Management LLC now owns 1,023,508 shares of the technology company’s stock valued at $42,987,000 after acquiring an additional 677,894 shares during the period. MetLife Investment Management LLC lifted its stake in shares of Mercury Systems by 1,479.5% during the first quarter. MetLife Investment Management LLC now owns 492,638 shares of the technology company’s stock valued at $21,228,000 after acquiring an additional 461,449 shares during the period. Fisher Asset Management LLC acquired a new position in shares of Mercury Systems during the fourth quarter valued at $16,601,000. Finally, First Trust Advisors LP lifted its stake in shares of Mercury Systems by 50.8% during the fourth quarter. First Trust Advisors LP now owns 988,936 shares of the technology company’s stock valued at $41,535,000 after acquiring an additional 333,109 shares during the period. Institutional investors and hedge funds own 95.99% of the company’s stock.

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.