Mercury Systems (NASDAQ:MRCY) Sets New 1-Year High at $84.01

Mercury Systems Inc (NASDAQ:MRCY) shares hit a new 52-week high on Wednesday . The company traded as high as $84.01 and last traded at $83.10, with a volume of 27189 shares. The stock had previously closed at $83.68.

A number of brokerages have recently weighed in on MRCY. BidaskClub lowered shares of Mercury Systems from a “strong-buy” rating to a “buy” rating in a report on Friday, July 26th. Canaccord Genuity reaffirmed a “buy” rating and issued a $76.00 target price (up from $64.00) on shares of Mercury Systems in a research note on Friday, April 26th. Alembic Global Advisors raised shares of Mercury Systems from a “neutral” rating to an “overweight” rating in a research note on Wednesday, May 1st. Bank of America raised shares of Mercury Systems from an “underperform” rating to a “neutral” rating and lifted their target price for the stock from $50.00 to $85.00 in a research note on Friday, August 9th. Finally, Zacks Investment Research raised shares of Mercury Systems from a “sell” rating to a “hold” rating in a research note on Tuesday, August 6th. Two research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Mercury Systems presently has an average rating of “Buy” and a consensus price target of $73.20.

The company has a debt-to-equity ratio of 0.34, a current ratio of 5.94 and a quick ratio of 4.54. The company has a 50 day simple moving average of $73.61. The stock has a market capitalization of $4.63 billion, a P/E ratio of 54.92, a PEG ratio of 4.17 and a beta of 1.09.

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

In other Mercury Systems news, CEO Mark Aslett sold 10,000 shares of the business’s stock in a transaction on Thursday, May 23rd. The shares were sold at an average price of $68.10, for a total transaction of $681,000.00. Following the transaction, the chief executive officer now directly owns 342,440 shares of the company’s stock, valued at approximately $23,320,164. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Over the last three months, insiders have sold 30,000 shares of company stock worth $2,024,200. Insiders own 2.80% of the company’s stock.

A number of institutional investors have recently modified their holdings of MRCY. D. E. Shaw & Co. Inc. boosted its holdings in shares of Mercury Systems by 11.2% during the 2nd quarter. D. E. Shaw & Co. Inc. now owns 244,609 shares of the technology company’s stock valued at $17,208,000 after buying an additional 24,553 shares in the last quarter. Cubist Systematic Strategies LLC boosted its stake in Mercury Systems by 9.3% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 10,305 shares of the technology company’s stock worth $725,000 after purchasing an additional 876 shares in the last quarter. Marshall Wace LLP bought a new position in Mercury Systems in the 2nd quarter worth about $7,897,000. Morgan Stanley boosted its stake in Mercury Systems by 81.7% in the 2nd quarter. Morgan Stanley now owns 333,254 shares of the technology company’s stock worth $23,445,000 after purchasing an additional 149,860 shares in the last quarter. Finally, AQR Capital Management LLC boosted its stake in Mercury Systems by 899.7% in the 2nd quarter. AQR Capital Management LLC now owns 42,457 shares of the technology company’s stock worth $2,987,000 after purchasing an additional 38,210 shares in the last quarter. 84.53% of the stock is currently owned by institutional investors and hedge funds.

About Mercury Systems (NASDAQ:MRCY)

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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