Mercury Systems (NASDAQ:MRCY) Upgraded to Strong-Buy at Guggenheim

Guggenheim upgraded shares of Mercury Systems (NASDAQ:MRCY) to a strong-buy rating in a report released on Monday,Zacks reports.

Several other analysts have also commented on MRCY. Canaccord Genuity Group lifted their price objective on Mercury Systems from $106.00 to $128.00 and gave the stock a “buy” rating in a report on Thursday, August 20th. Deutsche Bank Aktiengesellschaft downgraded Mercury Systems to a “hold” rating in a research note on Wednesday, August 12th. Piper Sandler reaffirmed an “overweight” rating and set a $131.00 price target (up from $126.00) on shares of Mercury Systems in a research report on Wednesday, August 19th. Zacks Research cut shares of Mercury Systems from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, August 4th. Finally, Royal Bank Of Canada raised their price objective on shares of Mercury Systems from $105.00 to $120.00 and gave the stock an “outperform” rating in a report on Wednesday, August 19th. Two research analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating, four have given a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, Mercury Systems presently has a consensus rating of “Moderate Buy” and an average target price of $110.55.

Mercury Systems Price Performance

Shares of NASDAQ:MRCY opened at $87.25 on Monday. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.85 and a current ratio of 2.96. The firm has a market cap of $5.25 billion, a price-to-earnings ratio of -174.50 and a beta of 0.98. The business has a 50-day simple moving average of $96.64 and a two-hundred day simple moving average of $94.83. Mercury Systems has a fifty-two week low of $65.04 and a fifty-two week high of $128.45.

Mercury Systems (NASDAQ:MRCY) last announced its quarterly earnings results on Tuesday, August 18th. The technology company reported $0.37 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.38 by ($0.01). The company had revenue of $289.78 million for the quarter, compared to analysts’ expectations of $266.09 million. Mercury Systems had a negative net margin of 3.02% and a positive return on equity of 1.29%. The business’s revenue was up 6.1% compared to the same quarter last year. During the same period in the previous year, the business earned $0.47 EPS. On average, analysts expect that Mercury Systems will post 0.91 earnings per share for the current year.

Insider Transactions at Mercury Systems

In related news, CEO William Ballhaus sold 111,076 shares of the business’s stock in a transaction that occurred on Tuesday, August 25th. The stock was sold at an average price of $87.12, for a total transaction of $9,676,941.12. Following the completion of the transaction, the chief executive officer directly owned 342,436 shares in the company, valued at approximately $29,833,024.32. The trade was a 24.49% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP David Farnsworth sold 8,155 shares of the firm’s stock in a transaction that occurred on Wednesday, August 19th. The stock was sold at an average price of $100.31, for a total transaction of $818,028.05. Following the sale, the executive vice president owned 124,579 shares in the company, valued at approximately $12,496,519.49. The trade was a 6.14% decrease in their position. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last ninety days, insiders have sold 450,186 shares of company stock worth $41,770,650. Insiders own 1.40% of the company’s stock.

Institutional Investors Weigh In On Mercury Systems

Institutional investors have recently bought and sold shares of the business. BlackRock Inc. purchased a new position in shares of Mercury Systems in the second quarter worth $1,146,342,000. Deutsche Bank AG purchased a new position in Mercury Systems during the second quarter valued at $17,454,000. Rice Hall James & Associates LLC purchased a new position in Mercury Systems during the second quarter valued at $4,866,000. American Capital Management Inc. bought a new stake in Mercury Systems in the 2nd quarter valued at $59,460,000. Finally, Louisiana State Employees Retirement System bought a new stake in Mercury Systems in the 1st quarter valued at $1,706,000. Hedge funds and other institutional investors own 95.99% of the company’s stock.

About Mercury Systems

Mercury Systems, Inc is a technology company that develops and manufactures secure, high-performance computing and sensor-processing solutions for the aerospace and defense industries. Its products are designed for use in mission-critical applications where ruggedness, rapid data processing, cybersecurity and long operational life are essential.

The company’s offerings include embedded computing systems, digital signal processing technologies, radio-frequency and microwave components, avionics systems, sensor-processing solutions, electronic warfare technology and secure communications products.