Mercury Systems (NASDAQ:MRCY) PT Lowered to $26.00 at Truist Financial

Mercury Systems (NASDAQ:MRCY) had its price target reduced by analysts at Truist Financial from $28.00 to $26.00 in a research note issued to investors on Wednesday, Benzinga reports. The firm presently has a “hold” rating on the technology company’s stock. Truist Financial’s price target points to a potential downside of 2.99% from the stock’s previous close.

Several other research analysts also recently issued reports on the company. Royal Bank of Canada cut their price target on Mercury Systems from $35.00 to $30.00 and set a “sector perform” rating for the company in a research note on Wednesday, February 7th. The Goldman Sachs Group lowered their price target on Mercury Systems from $24.00 to $21.00 and set a “sell” rating for the company in a report on Thursday, February 8th. Four investment analysts have rated the stock with a sell rating and four have issued a hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $29.63.

Mercury Systems Stock Performance

Shares of NASDAQ MRCY traded down $2.31 during mid-day trading on Wednesday, hitting $26.80. 163,881 shares of the company were exchanged, compared to its average volume of 519,148. Mercury Systems has a 1-year low of $25.31 and a 1-year high of $43.84. The firm has a market cap of $1.59 billion, a price-to-earnings ratio of -18.44 and a beta of 0.68. The company has a quick ratio of 2.79, a current ratio of 4.36 and a debt-to-equity ratio of 0.41. The stock has a 50 day simple moving average of $28.84 and a 200-day simple moving average of $31.80.

Mercury Systems (NASDAQ:MRCY) last announced its quarterly earnings data on Tuesday, February 6th. The technology company reported ($0.58) earnings per share 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 business had revenue of $197.46 million for the quarter, compared to analyst estimates of $215.41 million. On average, sell-side analysts forecast that Mercury Systems will post -1.4 EPS for the current fiscal year.

Insider Buying and Selling

In other Mercury Systems news, EVP Stephanie Georges sold 1,409 shares of the company’s stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $29.57, for a total value of $41,664.13. Following the transaction, the executive vice president now directly owns 38,319 shares of the company’s stock, valued at approximately $1,133,092.83. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, Director Barry R. Nearhos acquired 3,500 shares of the business’s stock in a transaction dated Friday, February 9th. The stock was acquired 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 directly owns 3,500 shares in the company, valued at approximately $95,025. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Stephanie Georges sold 1,409 shares of the company’s stock in a transaction on Friday, February 16th. The shares were sold at an average price of $29.57, for a total value of $41,664.13. Following the sale, the executive vice president now directly owns 38,319 shares of the company’s stock, valued at $1,133,092.83. The disclosure for this sale can be found here. In the last ninety days, insiders have purchased 14,133 shares of company stock valued at $398,311 and have sold 3,510 shares valued at $103,685. 1.80% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Mercury Systems

Hedge funds have recently modified their holdings of the stock. Sei Investments Co. raised its position in Mercury Systems by 27.0% during the first quarter. Sei Investments Co. now owns 216,956 shares of the technology company’s stock valued at $6,400,000 after buying an additional 46,132 shares during the period. Illinois Municipal Retirement Fund increased its holdings in shares of Mercury Systems by 1.5% during the 1st quarter. Illinois Municipal Retirement Fund now owns 29,782 shares of the technology company’s stock valued at $879,000 after acquiring an additional 450 shares during the last quarter. Duality Advisers LP increased its holdings in shares of Mercury Systems by 38.2% during the 1st quarter. Duality Advisers LP now owns 29,311 shares of the technology company’s stock valued at $865,000 after acquiring an additional 8,106 shares during the last quarter. Staley Capital Advisers Inc. boosted its position in shares of Mercury Systems by 37.6% in the first quarter. Staley Capital Advisers Inc. now owns 449,360 shares of the technology company’s stock valued at $13,256,000 after acquiring an additional 122,829 shares during the period. Finally, Texas Permanent School Fund Corp increased its holdings in shares of Mercury Systems by 1.1% during the 1st quarter. Texas Permanent School Fund Corp now owns 45,577 shares of the technology company’s stock worth $1,345,000 after purchasing an additional 514 shares during the period. 95.99% of the stock is owned by hedge funds and other institutional investors.

Mercury Systems Company Profile

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.