Mercury Systems (NASDAQ:MRCY) Upgraded by Bank of America to Neutral

Bank of America upgraded shares of Mercury Systems (NASDAQ:MRCY) from an underperform rating to a neutral rating in a report released on Friday morning, BenzingaRatingsTable reports. Bank of America currently has $85.00 target price on the technology company’s stock, up from their prior target price of $50.00.

MRCY has been the topic of a number of other reports. Zacks Investment Research raised shares of Mercury Systems from a sell rating to a hold rating in a research report on Tuesday. BidaskClub cut shares of Mercury Systems from a strong-buy rating to a buy rating in a report on Friday, July 26th. Alembic Global Advisors upgraded shares of Mercury Systems from a neutral rating to an overweight rating in a report on Wednesday, May 1st. Finally, Canaccord Genuity restated a buy rating and set a $76.00 price target (up from $64.00) on shares of Mercury Systems in a report on Friday, April 26th. Two research analysts have rated the stock with a hold rating and six have given a buy rating to the company. The stock currently has a consensus rating of Buy and an average price target of $73.20.

NASDAQ:MRCY traded up $0.38 on Friday, hitting $82.38. 262,892 shares of the company’s stock traded hands, compared to its average volume of 383,977. The firm has a market capitalization of $4.47 billion, a P/E ratio of 54.20, a PEG ratio of 4.09 and a beta of 1.09. Mercury Systems has a 1 year low of $41.16 and a 1 year high of $83.80. The company has a debt-to-equity ratio of 0.34, a quick ratio of 4.54 and a current ratio of 5.94. The firm’s 50-day simple moving average is $72.26.

Mercury Systems (NASDAQ:MRCY) last posted its quarterly earnings results on Tuesday, July 30th. The technology company reported $0.47 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.36 by $0.11. The business had revenue of $176.96 million during the quarter, compared to analyst estimates of $171.98 million. Mercury Systems had a net margin of 7.14% and a return on equity of 8.11%. The firm’s revenue was up 15.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.47 earnings per share. Analysts predict that Mercury Systems will post 1.72 earnings per share for the current fiscal year.

In other Mercury Systems news, insider Mark Aslett sold 10,000 shares of the business’s stock in a transaction dated Tuesday, June 4th. The stock was sold at an average price of $65.90, for a total value of $659,000.00. Following the transaction, the insider now owns 337,440 shares in the company, valued at $22,237,296. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders sold 30,000 shares of company stock worth $2,024,200 in the last 90 days. Corporate insiders own 2.80% of the company’s stock.

Hedge funds have recently bought and sold shares of the business. Flagship Harbor Advisors LLC bought a new stake in Mercury Systems in the first quarter worth approximately $44,000. Mitsubishi UFJ Securities Holdings Co. Ltd. bought a new stake in Mercury Systems in the 2nd quarter valued at $79,000. LS Investment Advisors LLC boosted its holdings in Mercury Systems by 10.1% in the 2nd quarter. LS Investment Advisors LLC now owns 1,595 shares of the technology company’s stock valued at $112,000 after purchasing an additional 146 shares during the period. Advisors Preferred LLC bought a new stake in shares of Mercury Systems in the first quarter valued at about $106,000. Finally, NumerixS Investment Technologies Inc bought a new stake in shares of Mercury Systems in the first quarter valued at about $128,000. 84.86% of the stock is owned by 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. 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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Analyst Recommendations for Mercury Systems (NASDAQ:MRCY)

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