Mercury Systems (NASDAQ:MRCY) Downgraded to Hold Rating by Wall Street Zen

Wall Street Zen downgraded shares of Mercury Systems (NASDAQ:MRCY) from a buy rating to a hold rating in a research note released on Saturday.

Several other brokerages have also issued reports on MRCY. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Mercury Systems in a research note on Tuesday, April 21st. Zacks Research upgraded Mercury Systems from a “hold” rating to a “strong-buy” rating in a research report on Monday, July 6th. Jefferies Financial Group reissued a “hold” rating and set a $115.00 price objective on shares of Mercury Systems in a report on Friday, July 10th. Truist Financial upgraded shares of Mercury Systems to a “strong-buy” rating in a research report on Friday, May 1st. Finally, Canaccord Genuity Group raised their target price 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. Three investment analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating, two have issued a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, Mercury Systems currently has a consensus rating of “Moderate Buy” and an average price target of $95.78.

Mercury Systems Stock Performance

MRCY stock opened at $96.08 on Friday. The company has a debt-to-equity ratio of 0.40, a current ratio of 3.19 and a quick ratio of 2.15. The company has a 50 day moving average price of $107.49 and a 200 day moving average price of $92.80. Mercury Systems has a fifty-two week low of $50.13 and a fifty-two week high of $128.45. The stock has a market capitalization of $5.77 billion, a PE ratio of -400.33 and a beta of 0.93.

Mercury Systems (NASDAQ:MRCY) last posted its quarterly earnings data on Tuesday, May 5th. The technology company reported $0.27 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.06 by $0.21. The firm had revenue of $235.76 million for the quarter, compared to the consensus estimate of $208.56 million. Mercury Systems had a positive return on equity of 2.22% and a negative net margin of 1.46%.The business’s revenue for the quarter was up 11.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.06 EPS. Analysts forecast that Mercury Systems will post 0.35 EPS for the current year.

Insider Transactions at Mercury Systems

In other Mercury Systems news, Director Orlando D. Carvalho sold 7,000 shares of the 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 owned 52,448 shares of the company’s stock, valued at approximately $4,686,753.28. This represents a 11.77% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Howard L. Lance sold 9,250 shares of the stock in a transaction dated Tuesday, May 26th. The shares were sold at an average price of $99.76, for a total value of $922,780.00. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 18,250 shares of company stock worth $1,733,220 in the last three months. Insiders own 1.40% of the company’s stock.

Institutional Trading of Mercury Systems

A number of institutional investors and hedge funds have recently modified their holdings of MRCY. Osaic Holdings Inc. grew its holdings in Mercury Systems by 53.2% during the second quarter. Osaic Holdings Inc. now owns 599 shares of the technology company’s stock valued at $32,000 after purchasing an additional 208 shares during the period. Leonteq Securities AG bought a new stake in Mercury Systems in the fourth quarter valued at approximately $35,000. Hollencrest Capital Management acquired a new stake in Mercury Systems in the fourth quarter worth $37,000. Federated Hermes Inc. acquired a new stake in Mercury Systems in the second quarter worth $43,000. Finally, Rockefeller Capital Management L.P. raised its holdings in Mercury Systems by 53.6% in the fourth quarter. Rockefeller Capital Management L.P. now owns 653 shares of the technology company’s stock worth $48,000 after purchasing an additional 228 shares during the period. 95.99% of the stock is owned by institutional investors.

About Mercury Systems

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.