Mercury Systems, Inc. (NASDAQ:MRCY) Receives $29.88 Average PT from Analysts

Shares of Mercury Systems, Inc. (NASDAQ:MRCY) have been given a consensus recommendation of “Reduce” by the seven analysts that are currently covering the stock, Marketbeat reports. Three research analysts have rated the stock with a sell rating and four have given a hold rating to the company. The average 12-month price objective among brokers that have covered the stock in the last year is $29.88.

A number of brokerages have recently commented on MRCY. Jefferies Financial Group cut Mercury Systems from a “hold” rating to an “underperform” rating and dropped their price target for the company from $35.00 to $30.00 in a research note on Wednesday, January 3rd. Royal Bank of Canada dropped their target price on shares of Mercury Systems from $35.00 to $30.00 and set a “sector perform” rating on the stock in a research report on Wednesday, February 7th. Truist Financial lowered shares of Mercury Systems from a “buy” rating to a “hold” rating and reduced their price objective for the company from $48.00 to $28.00 in a research note on Wednesday, February 7th. Finally, The Goldman Sachs Group decreased their price target on shares of Mercury Systems from $24.00 to $21.00 and set a “sell” rating on the stock in a report on Thursday, February 8th.

Insider Buying and Selling at Mercury Systems

In other news, CEO William L. Ballhaus bought 3,653 shares of the company’s stock in a transaction dated Friday, February 9th. The stock was bought at an average cost of $28.22 per share, for a total transaction of $103,087.66. Following the completion of the acquisition, the chief executive officer now owns 3,653 shares in the company, valued at approximately $103,087.66. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, Director Barry R. Nearhos bought 3,500 shares of the company’s stock in a transaction that occurred on Friday, February 9th. The shares were bought at an average price of $27.15 per share, for a total transaction of $95,025.00. Following the completion of the acquisition, the director now owns 3,500 shares of the company’s stock, valued at approximately $95,025. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO William L. Ballhaus bought 3,653 shares of the company’s stock in a transaction that occurred on Friday, February 9th. The stock was bought at an average price of $28.22 per share, for a total transaction of $103,087.66. Following the acquisition, the chief executive officer now directly owns 3,653 shares of the company’s stock, valued at approximately $103,087.66. The disclosure for this purchase can be found here. Over the last three months, insiders acquired 14,133 shares of company stock worth $398,311 and sold 3,510 shares worth $103,685. Company insiders own 1.80% of the company’s stock.

Institutional Investors Weigh In On Mercury Systems

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Healthcare of Ontario Pension Plan Trust Fund boosted its stake in shares of Mercury Systems by 11.8% during the 4th quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 291,200 shares of the technology company’s stock worth $10,649,000 after acquiring an additional 30,700 shares during the last quarter. Vanguard Group Inc. raised its position in Mercury Systems by 1.0% in the 4th quarter. Vanguard Group Inc. now owns 5,669,352 shares of the technology company’s stock worth $207,328,000 after purchasing an additional 53,387 shares during the period. Wellington Management Group LLP raised its position in Mercury Systems by 2.7% in the 4th quarter. Wellington Management Group LLP now owns 46,903 shares of the technology company’s stock worth $1,715,000 after purchasing an additional 1,251 shares during the period. Price T Rowe Associates Inc. MD grew its stake in Mercury Systems by 5.2% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 32,266 shares of the technology company’s stock worth $1,180,000 after acquiring an additional 1,591 shares in the last quarter. Finally, Cim Investment Management Inc. grew its stake in Mercury Systems by 36.1% in the 4th quarter. Cim Investment Management Inc. now owns 9,990 shares of the technology company’s stock worth $365,000 after acquiring an additional 2,650 shares in the last quarter. Hedge funds and other institutional investors own 95.99% of the company’s stock.

Mercury Systems Stock Performance

MRCY opened at $29.50 on Monday. The company has a debt-to-equity ratio of 0.41, a quick ratio of 2.79 and a current ratio of 4.36. The business’s 50-day simple moving average is $29.45 and its 200 day simple moving average is $33.58. The firm has a market capitalization of $1.75 billion, a PE ratio of -19.80 and a beta of 0.70. Mercury Systems has a 52-week low of $25.31 and a 52-week high of $52.95.

Mercury Systems (NASDAQ:MRCY) last issued its quarterly earnings results on Tuesday, February 6th. The technology company reported ($0.58) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.10) by ($0.48). Mercury Systems had a negative return on equity of 2.62% and a negative net margin of 9.54%. The company had revenue of $197.46 million for the quarter, compared to analyst estimates of $215.41 million. As a group, sell-side analysts expect that Mercury Systems will post -1.36 earnings per share for the current fiscal year.

About Mercury Systems

Mercury Systems, Inc, a technology company, manufactures and sells components, products, modules, and subsystems for aerospace and defense industries in the United States, Europe, and the Asia Pacific. Its products and solutions are deployed in approximately 300 programs with 25 defense contractors and commercial aviation customers.