Mercury Systems (NASDAQ:MRCY) was downgraded by stock analysts at ValuEngine from a “hold” rating to a “sell” rating in a report released on Tuesday.
Other equities analysts have also recently issued reports about the stock. SunTrust Banks reaffirmed a “buy” rating and issued a $61.00 target price on shares of Mercury Systems in a report on Tuesday, January 9th. Citigroup reaffirmed a “buy” rating and issued a $61.00 target price on shares of Mercury Systems in a report on Wednesday, January 24th. Bank of America cut their target price on shares of Mercury Systems from $60.00 to $50.00 and set a “buy” rating on the stock in a report on Thursday, February 8th. Noble Financial reaffirmed a “hold” rating on shares of Mercury Systems in a report on Thursday, January 25th. Finally, Zacks Investment Research cut shares of Mercury Systems from a “strong-buy” rating to a “hold” rating in a report on Saturday, January 20th. Two research analysts have rated the stock with a sell rating, three have given a hold rating and four have given a buy rating to the stock. Mercury Systems currently has a consensus rating of “Hold” and a consensus price target of $55.83.
Shares of Mercury Systems stock opened at $44.67 on Tuesday. The firm has a market capitalization of $2,214.82, a PE ratio of 47.02, a price-to-earnings-growth ratio of 3.68 and a beta of 0.36. Mercury Systems has a 12 month low of $36.09 and a 12 month high of $55.00.
Mercury Systems (NASDAQ:MRCY) last announced its earnings results on Tuesday, January 23rd. The technology company reported $0.28 EPS for the quarter, missing analysts’ consensus estimates of $0.30 by ($0.02). The business had revenue of $117.90 million during the quarter, compared to analyst estimates of $114.89 million. Mercury Systems had a net margin of 9.61% and a return on equity of 6.32%. The business’s revenue was up 20.3% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.30 earnings per share. analysts predict that Mercury Systems will post 1.09 earnings per share for the current fiscal year.
In other Mercury Systems news, CFO Gerald M. Haines II sold 2,500 shares of the business’s stock in a transaction on Thursday, February 1st. The shares were sold at an average price of $47.69, for a total value of $119,225.00. Following the transaction, the chief financial officer now directly owns 210,760 shares of the company’s stock, valued at approximately $10,051,144.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Mark Aslett sold 9,600 shares of the business’s stock in a transaction on Wednesday, January 31st. The shares were sold at an average price of $48.10, for a total transaction of $461,760.00. The disclosure for this sale can be found here. Insiders sold a total of 58,400 shares of company stock worth $2,764,488 over the last three months. 3.50% of the stock is currently owned by corporate insiders.
Institutional investors and hedge funds have recently made changes to their positions in the business. Catalyst Capital Advisors LLC acquired a new position in Mercury Systems in the 4th quarter valued at $149,000. Advisor Group Inc. increased its stake in Mercury Systems by 70.1% in the 4th quarter. Advisor Group Inc. now owns 4,347 shares of the technology company’s stock valued at $222,000 after buying an additional 1,791 shares during the period. Fox Run Management L.L.C. acquired a new position in Mercury Systems in the 4th quarter valued at $229,000. Baltimore Capital Management Inc. acquired a new position in Mercury Systems in the 4th quarter valued at $231,000. Finally, Capital Fund Management S.A. acquired a new position in Mercury Systems in the 4th quarter valued at $257,000. 93.50% of the stock is currently owned by institutional investors.
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About Mercury Systems
Mercury Systems, Inc provides sensor and safety critical mission processing subsystems for various critical defense and intelligence programs in the United States. The company's products and solutions are deployed in approximately 300 programs with 25 defense prime contractors. Its principal programs include Aegis, Patriot, Surface Electronic Warfare Improvement Program, Gorgon Stare, Predator, F-35, Reaper, F-16 SABR, E2D Hawkeye, and Paveway.
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