Mercury Systems (NASDAQ:MRCY) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report released on Tuesday. The firm currently has a $54.00 price objective on the technology company’s stock. Zacks Investment Research‘s price target would indicate a potential upside of 3.89% from the company’s current price.
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 analysts have also issued reports on the company. Canaccord Genuity initiated coverage on Mercury Systems in a report on Thursday, October 4th. They set a “buy” rating and a $64.00 price objective on the stock. BidaskClub downgraded shares of Mercury Systems from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, October 16th. ValuEngine upgraded shares of Mercury Systems from a “hold” rating to a “buy” rating in a research note on Thursday, August 30th. Finally, Drexel Hamilton set a $58.00 target price on shares of Mercury Systems and gave the stock a “buy” rating in a research note on Wednesday, October 31st. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and seven have given a buy rating to the company. Mercury Systems currently has a consensus rating of “Buy” and a consensus target price of $53.86.
Mercury Systems (NASDAQ:MRCY) last issued its quarterly earnings data on Tuesday, October 30th. The technology company reported $0.39 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.35 by $0.04. The company had revenue of $144.10 million for the quarter, compared to analyst estimates of $139.12 million. Mercury Systems had a return on equity of 6.97% and a net margin of 5.72%. The business’s quarterly revenue was up 35.8% compared to the same quarter last year. During the same quarter last year, the company posted $0.37 earnings per share. As a group, research analysts predict that Mercury Systems will post 1.41 EPS for the current year.
In other news, COO Didier M. C. Thibaud sold 3,500 shares of the stock in a transaction dated Wednesday, August 15th. The shares were sold at an average price of $49.66, for a total transaction of $173,810.00. Following the completion of the sale, the chief operating officer now owns 331,669 shares in the company, valued at $16,470,682.54. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Mark Aslett sold 4,700 shares of the stock in a transaction dated Thursday, September 27th. The stock was sold at an average price of $55.11, for a total transaction of $259,017.00. Following the sale, the insider now owns 414,195 shares of the company’s stock, valued at approximately $22,826,286.45. The disclosure for this sale can be found here. Insiders have sold 55,200 shares of company stock valued at $2,920,742 in the last quarter. Insiders own 2.80% of the company’s stock.
A number of large investors have recently made changes to their positions in MRCY. Cubist Systematic Strategies LLC acquired a new stake in Mercury Systems in the first quarter valued at about $264,000. Legal & General Group Plc lifted its position in Mercury Systems by 2.3% in the first quarter. Legal & General Group Plc now owns 98,867 shares of the technology company’s stock valued at $4,740,000 after purchasing an additional 2,188 shares during the period. Principal Financial Group Inc. lifted its position in Mercury Systems by 3.2% in the first quarter. Principal Financial Group Inc. now owns 403,522 shares of the technology company’s stock valued at $19,498,000 after purchasing an additional 12,597 shares during the period. Bank of Montreal Can acquired a new stake in Mercury Systems in the second quarter valued at about $100,000. Finally, Fred Alger Management Inc. lifted its position in Mercury Systems by 245.7% in the second quarter. Fred Alger Management Inc. now owns 827,399 shares of the technology company’s stock valued at $31,491,000 after purchasing an additional 588,093 shares during the period. Hedge funds and other institutional investors own 96.81% of the company’s stock.
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. Its products and solutions are deployed in approximately 300 programs with 25 defense contractors. The company's principal programs include Aegis, Patriot, Surface Electronic Warfare Improvement Program, Gorgon Stare, Predator, F-35, Reaper, F-16 SABR, E2D Hawkeye, Paveway, Filthy Buzzard, PGK, ProVision, P1, and AIDEWS.
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