Mercury Systems (NASDAQ:MRCY) Lowered to “Hold” Rating by Zacks Research

Mercury Systems (NASDAQ:MRCY) was downgraded by analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a report released on Tuesday,Zacks.com reports.

Other equities research analysts have also issued reports about the company. JPMorgan Chase & Co. increased their price target on Mercury Systems from $99.00 to $101.00 and gave the company a “neutral” rating in a research report on Monday, July 13th. The Goldman Sachs Group lifted their price objective 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. Truist Financial upgraded shares of Mercury Systems to a “strong-buy” rating in a research note on Friday, May 1st. Wall Street Zen downgraded shares of Mercury Systems from a “buy” rating to a “hold” rating in a report on Saturday, July 18th. Finally, Jefferies Financial Group reissued a “hold” rating and set a $115.00 price target on shares of Mercury Systems in a research report on Friday, July 10th. Two investment analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating, three have assigned a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, Mercury Systems presently has a consensus rating of “Moderate Buy” and a consensus target price of $95.78.

Mercury Systems Stock Performance

Shares of Mercury Systems stock opened at $107.44 on Tuesday. The company has a market cap of $6.45 billion, a PE ratio of -447.67 and a beta of 0.95. Mercury Systems has a 52 week low of $51.86 and a 52 week high of $128.45. The business has a 50 day moving average price of $109.09 and a 200-day moving average price of $94.26. The company has a quick ratio of 2.15, a current ratio of 3.19 and a debt-to-equity ratio of 0.40.

Mercury Systems (NASDAQ:MRCY) last posted its earnings results on Tuesday, May 5th. The technology company reported $0.27 earnings per share for the quarter, beating analysts’ consensus estimates of $0.06 by $0.21. The company had revenue of $235.76 million for the quarter, compared to analyst estimates of $208.56 million. Mercury Systems had a positive return on equity of 2.22% and a negative net margin of 1.46%.The company’s revenue for the quarter was up 11.5% on a year-over-year basis. During the same quarter last year, the company earned $0.06 earnings per share. Equities analysts anticipate that Mercury Systems will post 0.33 earnings per share for the current fiscal year.

Insider Activity at Mercury Systems

In other Mercury Systems news, EVP Steven Ratner sold 2,000 shares of the business’s stock in a transaction on Monday, May 11th. The stock was sold at an average price of $92.46, for a total value of $184,920.00. Following the transaction, the executive vice president owned 32,238 shares of the company’s stock, valued at approximately $2,980,725.48. The trade was a 5.84% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Orlando D. Carvalho sold 7,000 shares of the company’s stock in a transaction on Tuesday, May 12th. The shares were sold at an average price of $89.36, for a total value of $625,520.00. Following the completion of the transaction, the director owned 52,448 shares of the company’s stock, valued at $4,686,753.28. This trade represents a 11.77% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 18,250 shares of company stock valued at $1,733,220. 1.40% of the stock is owned by insiders.

Hedge Funds Weigh In On Mercury Systems

A number of hedge funds and other institutional investors have recently made changes to their positions in MRCY. State Street Corp grew its position in Mercury Systems by 12.1% during the fourth quarter. State Street Corp now owns 3,423,600 shares of the technology company’s stock valued at $249,957,000 after buying an additional 368,242 shares during the period. Invesco Ltd. raised its position in Mercury Systems by 25.1% in the fourth quarter. Invesco Ltd. now owns 1,910,742 shares of the technology company’s stock worth $139,503,000 after acquiring an additional 383,299 shares during the period. T. Rowe Price Investment Management Inc. raised its position in Mercury Systems by 1.4% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 1,542,851 shares of the technology company’s stock worth $112,644,000 after acquiring an additional 21,182 shares during the period. Geode Capital Management LLC boosted its stake in Mercury Systems by 3.6% in the fourth quarter. Geode Capital Management LLC now owns 1,368,659 shares of the technology company’s stock valued at $99,940,000 after acquiring an additional 47,174 shares during the last quarter. Finally, Segall Bryant & Hamill LLC boosted its stake in Mercury Systems by 46.9% in the first quarter. Segall Bryant & Hamill LLC now owns 934,824 shares of the technology company’s stock valued at $68,158,000 after acquiring an additional 298,298 shares during the last quarter. 95.99% of the stock is owned by hedge funds and other 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.