Mercury Systems (MRCY) Lifted to Buy at ValuEngine

ValuEngine upgraded shares of Mercury Systems (NASDAQ:MRCY) from a hold rating to a buy rating in a research note released on Wednesday.

Other equities research analysts have also recently issued research reports about the stock. Zacks Investment Research upgraded shares of Mercury Systems from a hold rating to a buy rating and set a $54.00 price target on the stock in a research report on Tuesday. Drexel Hamilton set a $58.00 price target on shares of Mercury Systems and gave the stock a buy rating in a research report on Wednesday, October 31st. BidaskClub cut shares of Mercury Systems from a strong-buy rating to a buy rating in a research report on Tuesday, October 16th. Finally, Canaccord Genuity started coverage on shares of Mercury Systems in a research report on Thursday, October 4th. They issued a buy rating and a $64.00 price target on the stock. One investment analyst has rated the stock with a sell rating, two have given a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has a consensus rating of Buy and an average price target of $53.86.

MRCY traded down $1.56 during trading hours on Wednesday, hitting $50.96. The company’s stock had a trading volume of 318,795 shares, compared to its average volume of 424,979. Mercury Systems has a 12 month low of $30.11 and a 12 month high of $57.26. The stock has a market capitalization of $2.50 billion, a PE ratio of 45.10, a P/E/G ratio of 3.43 and a beta of 0.85. The company has a debt-to-equity ratio of 0.31, a quick ratio of 2.94 and a current ratio of 4.40.

Mercury Systems (NASDAQ:MRCY) last announced its quarterly earnings results on Tuesday, October 30th. The technology company reported $0.39 earnings per share for the quarter, topping the consensus estimate of $0.35 by $0.04. Mercury Systems had a net margin of 5.72% and a return on equity of 6.97%. The company had revenue of $144.10 million for the quarter, compared to analysts’ expectations of $139.12 million. During the same quarter in the previous year, the business posted $0.37 earnings per share. Mercury Systems’s quarterly revenue was up 35.8% on a year-over-year basis. As a group, research analysts forecast that Mercury Systems will post 1.41 earnings per share for the current year.

In other Mercury Systems news, COO Didier M. C. Thibaud sold 3,500 shares of the business’s stock in a transaction on Tuesday, September 4th. The shares were sold at an average price of $54.23, for a total transaction of $189,805.00. Following the transaction, the chief operating officer now owns 318,525 shares in the company, valued at $17,273,610.75. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Mark Aslett sold 30,000 shares of the business’s stock in a transaction on Thursday, September 20th. The shares were sold at an average price of $54.91, for a total transaction of $1,647,300.00. Following the transaction, the insider now owns 427,440 shares in the company, valued at approximately $23,470,730.40. The disclosure for this sale can be found here. Insiders have sold 55,200 shares of company stock worth $2,920,742 in the last quarter. Company insiders own 2.80% of the company’s stock.

A number of hedge funds have recently bought and sold shares of the business. BlackRock Inc. increased its position in Mercury Systems by 0.5% during the third quarter. BlackRock Inc. now owns 8,319,573 shares of the technology company’s stock valued at $460,238,000 after acquiring an additional 45,037 shares during the last quarter. Bank of New York Mellon Corp increased its position in Mercury Systems by 2.6% during the third quarter. Bank of New York Mellon Corp now owns 1,868,042 shares of the technology company’s stock valued at $103,340,000 after acquiring an additional 48,213 shares during the last quarter. Conestoga Capital Advisors LLC increased its position in Mercury Systems by 16.0% during the third quarter. Conestoga Capital Advisors LLC now owns 1,311,985 shares of the technology company’s stock valued at $72,579,000 after acquiring an additional 181,345 shares during the last quarter. Glenmede Trust Co. NA increased its position in Mercury Systems by 59.7% during the second quarter. Glenmede Trust Co. NA now owns 1,130,014 shares of the technology company’s stock valued at $43,008,000 after acquiring an additional 422,612 shares during the last quarter. Finally, Alliancebernstein L.P. grew its holdings in shares of Mercury Systems by 6.8% in the third quarter. Alliancebernstein L.P. now owns 1,039,420 shares of the technology company’s stock worth $57,501,000 after purchasing an additional 66,513 shares during the last quarter. Institutional investors and hedge funds own 96.81% of the company’s stock.

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. Its products and solutions are deployed in approximately 300 programs with 25 defense contractors. The company's principal programs include Aegis, Patriot, Surface Electronic Warfare Improvement Program, Gorgon Stare, Predator, F-35, Reaper, F-16 SABR, E2D Hawkeye, Paveway, Filthy Buzzard, PGK, ProVision, P1, and AIDEWS.

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