Mercury Systems (NASDAQ:MRCY) had its price target dropped by investment analysts at Bank of America from $60.00 to $50.00 in a research report issued to clients and investors on Thursday, February 8th. The brokerage presently has a “buy” rating on the technology company’s stock. Bank of America’s target price would indicate a potential upside of 9.03% from the company’s current price.
Several other equities analysts have also weighed in on the stock. Zacks Investment Research upgraded shares of Mercury Systems from a “hold” rating to a “strong-buy” rating and set a $60.00 price objective for the company in a research report on Wednesday, December 27th. BidaskClub lowered shares of Mercury Systems from a “hold” rating to a “sell” rating in a research report on Wednesday, December 27th. Noble Financial restated a “hold” rating on shares of Mercury Systems in a research report on Thursday, October 26th. SunTrust Banks restated a “buy” rating and set a $61.00 price objective on shares of Mercury Systems in a research report on Tuesday, January 9th. Finally, Citigroup restated a “buy” rating and set a $61.00 price objective on shares of Mercury Systems in a research report on Wednesday, January 24th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and five have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $54.71.
Mercury Systems (MRCY) traded up $0.40 during trading on Thursday, reaching $45.86. 261,748 shares of the company’s stock traded hands, compared to its average volume of 598,510. The firm has a market cap of $2,212.42, a PE ratio of 47.28, a price-to-earnings-growth ratio of 3.68 and a beta of 0.33. Mercury Systems has a 52-week low of $36.09 and a 52-week high of $55.00.
Mercury Systems (NASDAQ:MRCY) last released its earnings results 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 company had revenue of $117.90 million for the quarter, compared to analyst estimates of $114.89 million. During the same period in the previous year, the business posted $0.30 EPS. The firm’s quarterly revenue was up 20.3% on a year-over-year basis. sell-side analysts predict that Mercury Systems will post 1.09 EPS for the current year.
In other Mercury Systems news, CFO Gerald M. Haines II sold 2,500 shares of the firm’s stock in a transaction dated Friday, December 1st. The shares were sold at an average price of $51.62, for a total value of $129,050.00. Following the completion of the transaction, the chief financial officer now directly owns 215,760 shares in the company, valued at $11,137,531.20. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Mark Aslett sold 9,600 shares of the firm’s stock in a transaction dated Thursday, February 15th. The stock was sold at an average price of $44.44, for a total transaction of $426,624.00. Following the completion of the transaction, the insider now owns 461,782 shares of the company’s stock, valued at $20,521,592.08. The disclosure for this sale can be found here. Over the last quarter, insiders sold 67,100 shares of company stock valued at $3,330,747. Corporate insiders own 3.50% of the company’s stock.
Several institutional investors and hedge funds have recently made changes to their positions in MRCY. Advisor Group Inc. boosted its holdings in shares of 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 purchasing an additional 1,264 shares during the period. Catalyst Capital Advisors LLC acquired a new stake in shares of Mercury Systems during the fourth quarter worth approximately $149,000. Ameritas Investment Partners Inc. boosted its holdings in shares of 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 purchasing an additional 195 shares during the period. Shelton Capital Management acquired a new stake in shares of Mercury Systems during the second quarter worth approximately $200,000. Finally, Flinton Capital Management LLC boosted its holdings in shares of 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 purchasing an additional 2,040 shares during the period. Institutional investors own 94.44% of the company’s stock.
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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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