Mercury Systems (MRCY) Downgraded by Zacks Investment Research to “Hold”

Mercury Systems (NASDAQ:MRCY) was downgraded by Zacks Investment Research from a “strong-buy” rating to a “hold” rating in a note issued to investors on Saturday.

According to Zacks, “Mercury Systems, Inc. is a commercial provider of secure sensor and mission processing subsystems for defense and intelligence programs. The Company’s products and solutions are deployed in more than 300 programs with over 25 different defense prime contractors. “

Several other analysts have also recently commented on MRCY. Noble Financial reiterated a “hold” rating on shares of Mercury Systems in a research note on Thursday, October 26th. SunTrust Banks reiterated a “buy” rating on shares of Mercury Systems in a research note on Friday, October 20th. BidaskClub cut shares of Mercury Systems from a “hold” rating to a “sell” rating in a research note on Wednesday, December 27th. Finally, Robert W. Baird raised their price objective on shares of Mercury Systems from $48.00 to $59.00 and gave the company an “outperform” rating in a research note on Wednesday, October 25th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and five have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $53.33.

Shares of Mercury Systems (MRCY) opened at $50.55 on Friday. Mercury Systems has a 52 week low of $30.80 and a 52 week high of $55.00. The company has a market cap of $2,440.00, a price-to-earnings ratio of 58.78, a PEG ratio of 4.32 and a beta of 0.23.

Mercury Systems (NASDAQ:MRCY) last released its earnings results on Tuesday, October 24th. The technology company reported $0.37 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.26 by $0.11. Mercury Systems had a net margin of 9.14% and a return on equity of 6.51%. The company had revenue of $106.10 million during the quarter, compared to analysts’ expectations of $105.18 million. During the same quarter last year, the business earned $0.22 EPS. The business’s revenue was up 21.1% on a year-over-year basis. research analysts forecast that Mercury Systems will post 1.12 earnings per share for the current year.

In related news, CFO Gerald M. Haines II sold 2,500 shares of the firm’s stock in a transaction dated Wednesday, November 1st. The shares were sold at an average price of $50.41, for a total value of $126,025.00. Following the completion of the sale, the chief financial officer now owns 218,260 shares in the company, valued at $11,002,486.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Mark Aslett sold 4,800 shares of the firm’s stock in a transaction dated Monday, October 30th. The shares were sold at an average price of $49.92, for a total transaction of $239,616.00. Following the completion of the sale, the chief executive officer now owns 509,782 shares of the company’s stock, valued at approximately $25,448,317.44. The disclosure for this sale can be found here. Insiders sold 65,800 shares of company stock valued at $3,351,345 in the last quarter. Company insiders own 3.50% of the company’s stock.

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. raised its position in Mercury Systems by 4.6% during the second quarter. Vanguard Group Inc. now owns 4,118,060 shares of the technology company’s stock worth $173,329,000 after acquiring an additional 180,028 shares during the last quarter. Wells Fargo & Company MN raised its position in Mercury Systems by 2.8% during the third quarter. Wells Fargo & Company MN now owns 2,292,917 shares of the technology company’s stock worth $118,956,000 after acquiring an additional 62,496 shares during the last quarter. State Street Corp raised its position in Mercury Systems by 13.2% during the second quarter. State Street Corp now owns 1,684,565 shares of the technology company’s stock worth $70,906,000 after acquiring an additional 196,075 shares during the last quarter. Goldman Sachs Group Inc. raised its position in Mercury Systems by 5.1% during the second quarter. Goldman Sachs Group Inc. now owns 1,293,723 shares of the technology company’s stock worth $54,453,000 after acquiring an additional 62,547 shares during the last quarter. Finally, Bamco Inc. NY raised its position in Mercury Systems by 8.9% during the third quarter. Bamco Inc. NY now owns 1,226,000 shares of the technology company’s stock worth $63,605,000 after acquiring an additional 100,000 shares during the last quarter. Institutional investors own 96.28% of the company’s stock.

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Mercury Systems Company Profile

Mercury Systems, Inc is a commercial provider of secure processing subsystems designed and made in the United States. The Company’s solutions support a range of defense and intelligence programs. Its technologies include embedded processing modules and subsystems, radio frequency (RF) and microwave multi-function assemblies, as well as subsystems, and RF and microwave components.

Analyst Recommendations for Mercury Systems (NASDAQ:MRCY)

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