Mercury Systems (MRCY) Cut to “Hold” at Zacks Investment Research

Zacks Investment Research lowered shares of Mercury Systems (NASDAQ:MRCY) from a strong-buy rating to a hold rating in a research report report published on Saturday, January 20th.

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 equities research analysts have also recently weighed in on MRCY. SunTrust Banks reiterated a buy rating and issued a $51.00 target price on shares of Mercury Systems in a report on Monday, October 2nd. BidaskClub cut Mercury Systems from a sell rating to a strong sell rating in a research note on Friday, January 19th. Robert W. Baird restated a buy rating and set a $48.00 price objective on shares of Mercury Systems in a research note on Tuesday, October 24th. Finally, Noble Financial restated a hold rating on shares of Mercury Systems in a research note on Thursday, October 26th. One analyst has rated the stock with a sell rating, three have issued a hold rating and five have given a buy rating to the stock. Mercury Systems currently has an average rating of Hold and an average target price of $54.71.

Shares of Mercury Systems (MRCY) traded up $3.18 during trading on Friday, reaching $45.00. The company’s stock had a trading volume of 966,861 shares, compared to its average volume of 537,452. The company has a market cap of $2,170.94, a P/E ratio of 46.39, a PEG ratio of 3.87 and a beta of 0.33. Mercury Systems has a 12 month low of $33.94 and a 12 month high of $55.00.

Mercury Systems (NASDAQ:MRCY) last announced its quarterly earnings data on Tuesday, January 23rd. The technology company reported $0.28 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.30 by ($0.02). Mercury Systems had a net margin of 9.61% and a return on equity of 6.32%. The business had revenue of $117.90 million during the quarter, compared to the consensus estimate of $114.89 million. During the same period last year, the company earned $0.30 EPS. The business’s revenue was up 20.3% compared to the same quarter last year. equities analysts forecast that Mercury Systems will post 1.09 EPS for the current fiscal year.

In other news, Director Vincent Vitto sold 8,500 shares of the stock in a transaction dated Monday, December 4th. The stock was sold at an average price of $52.04, for a total value of $442,340.00. Following the transaction, the director now directly owns 79,539 shares of the company’s stock, valued at $4,139,209.56. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Mark Aslett sold 9,600 shares of the stock in a transaction dated Thursday, November 30th. The shares were sold at an average price of $52.17, for a total value of $500,832.00. The disclosure for this sale can be found here. Over the last quarter, insiders sold 70,600 shares of company stock valued at $3,558,499. 3.50% of the stock is currently owned by company insiders.

Several hedge funds have recently made changes to their positions in the company. Advisor Group Inc. grew its holdings in Mercury Systems by 97.8% during the third quarter. Advisor Group Inc. now owns 2,556 shares of the technology company’s stock worth $132,000 after acquiring an additional 1,264 shares during the period. Catalyst Capital Advisors LLC acquired a new stake in Mercury Systems during the fourth quarter worth about $149,000. Ameritas Investment Partners Inc. grew its holdings in Mercury Systems by 5.0% during the second quarter. Ameritas Investment Partners Inc. now owns 4,114 shares of the technology company’s stock worth $173,000 after acquiring an additional 195 shares during the period. Shelton Capital Management acquired a new stake in Mercury Systems during the second quarter worth about $200,000. Finally, Flinton Capital Management LLC grew its holdings in Mercury Systems by 72.3% during the second quarter. Flinton Capital Management LLC now owns 4,862 shares of the technology company’s stock worth $205,000 after acquiring an additional 2,040 shares during the period. 96.26% of the stock is currently owned by institutional investors and hedge funds.

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About Mercury Systems

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.

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