Zacks Investment Research downgraded shares of Mercury Systems (NASDAQ:MRCY) from a strong-buy rating to a hold rating in a report issued on Tuesday.
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. “
MRCY has been the subject of several other research reports. ValuEngine lowered shares of Mercury Systems from a hold rating to a sell rating in a report on Tuesday, April 17th. Jefferies Financial Group reissued a hold rating and issued a $44.00 price target on shares of Mercury Systems in a report on Thursday, April 26th. Finally, Bank of America lowered shares of Mercury Systems from a buy rating to an underperform rating and decreased their price target for the company from $50.00 to $35.00 in a report on Wednesday, April 25th. Three analysts have rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the stock. The company has an average rating of Hold and a consensus price target of $51.33.
Shares of Mercury Systems opened at $38.06 on Tuesday, Marketbeat reports. Mercury Systems has a 12-month low of $30.11 and a 12-month high of $55.00. The firm has a market capitalization of $1.82 billion, a PE ratio of 35.66, a PEG ratio of 3.27 and a beta of 0.42. The company has a debt-to-equity ratio of 0.26, a current ratio of 3.95 and a quick ratio of 2.47.
Mercury Systems (NASDAQ:MRCY) last announced its quarterly earnings results on Tuesday, April 24th. The technology company reported $0.30 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.35 by ($0.05). Mercury Systems had a net margin of 8.68% and a return on equity of 6.83%. The firm had revenue of $116.30 million during the quarter, compared to analyst estimates of $128.45 million. During the same period last year, the firm earned $0.29 EPS. Mercury Systems’s quarterly revenue was up 8.4% on a year-over-year basis. equities analysts expect that Mercury Systems will post 1.11 EPS for the current fiscal year.
In related news, CFO Michael Ruppert bought 3,100 shares of Mercury Systems stock in a transaction that occurred on Monday, May 7th. The stock was purchased at an average cost of $32.66 per share, with a total value of $101,246.00. Following the purchase, the chief financial officer now owns 120,346 shares in the company, valued at $3,930,500.36. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, COO Didier M. C. Thibaud sold 3,500 shares of the company’s stock in a transaction on Monday, April 2nd. The stock was sold at an average price of $48.01, for a total transaction of $168,035.00. Following the completion of the transaction, the chief operating officer now directly owns 348,440 shares of the company’s stock, valued at $16,728,604.40. The disclosure for this sale can be found here. 3.50% of the stock is currently owned by corporate insiders.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Stephens Investment Management Group LLC acquired a new position in Mercury Systems in the 1st quarter worth $26,185,000. Geode Capital Management LLC boosted its stake in Mercury Systems by 0.7% in the 4th quarter. Geode Capital Management LLC now owns 428,137 shares of the technology company’s stock worth $21,984,000 after purchasing an additional 2,832 shares during the period. Swiss National Bank boosted its stake in Mercury Systems by 2.8% in the 4th quarter. Swiss National Bank now owns 82,000 shares of the technology company’s stock worth $4,211,000 after purchasing an additional 2,200 shares during the period. Castleark Management LLC boosted its stake in Mercury Systems by 5.8% in the 4th quarter. Castleark Management LLC now owns 192,186 shares of the technology company’s stock worth $9,869,000 after purchasing an additional 10,480 shares during the period. Finally, Hanseatic Management Services Inc. boosted its stake in Mercury Systems by 14,884.2% in the 4th quarter. Hanseatic Management Services Inc. now owns 5,694 shares of the technology company’s stock worth $292,000 after purchasing an additional 5,656 shares during the period. 96.39% of the stock is owned by hedge funds and other institutional investors.
About Mercury Systems
Mercury Systems, Inc provides sensor and safety critical mission processing subsystems for various critical defense and intelligence programs in the United States. The company's products and solutions are deployed in approximately 300 programs with 25 defense prime contractors. Its principal programs include Aegis, Patriot, Surface Electronic Warfare Improvement Program, Gorgon Stare, Predator, F-35, Reaper, F-16 SABR, E2D Hawkeye, and Paveway.
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