Mercury Systems (NASDAQ:MRCY) PT Raised to $26.00

Mercury Systems (NASDAQ:MRCY) had its price objective raised by investment analysts at JPMorgan Chase & Co. from $24.00 to $26.00 in a research report issued to clients and investors on Friday, Benzinga reports. The brokerage currently has a “neutral” rating on the technology company’s stock. JPMorgan Chase & Co.‘s price target suggests a potential downside of 17.51% from the stock’s current price.

Several other brokerages also recently issued reports on MRCY. The Goldman Sachs Group decreased their target price on Mercury Systems from $24.00 to $21.00 and set a “sell” rating on the stock in a research note on Thursday, February 8th. Truist Financial decreased their target price on Mercury Systems from $28.00 to $26.00 and set a “hold” rating on the stock in a research note on Wednesday, May 8th. Finally, Royal Bank of Canada reduced their price objective on Mercury Systems from $35.00 to $30.00 and set a “sector perform” rating on the stock in a research note on Wednesday, February 7th. Four investment analysts have rated the stock with a sell rating and four have issued a hold rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $28.50.

Mercury Systems Price Performance

MRCY traded up $0.04 on Friday, hitting $31.52. 27,029 shares of the company’s stock traded hands, compared to its average volume of 528,456. The company’s 50 day simple moving average is $28.92 and its 200-day simple moving average is $31.37. The firm has a market cap of $1.87 billion, a price-to-earnings ratio of -13.41 and a beta of 0.68. Mercury Systems has a one year low of $25.31 and a one year high of $43.84. The company has a current ratio of 4.58, a quick ratio of 2.93 and a debt-to-equity ratio of 0.42.

Hedge Funds Weigh In On Mercury Systems

A number of large investors have recently bought and sold shares of the business. Principal Financial Group Inc. lifted its holdings in shares of Mercury Systems by 24.9% in the 3rd quarter. Principal Financial Group Inc. now owns 272,185 shares of the technology company’s stock worth $10,095,000 after buying an additional 54,325 shares during the period. Victory Capital Management Inc. lifted its holdings in shares of Mercury Systems by 3.0% in the 3rd quarter. Victory Capital Management Inc. now owns 1,772,694 shares of the technology company’s stock worth $65,749,000 after buying an additional 52,079 shares during the period. Illinois Municipal Retirement Fund purchased a new stake in shares of Mercury Systems in the 3rd quarter worth $1,319,000. Jump Financial LLC lifted its holdings in shares of Mercury Systems by 25.8% in the 3rd quarter. Jump Financial LLC now owns 73,726 shares of the technology company’s stock worth $2,734,000 after buying an additional 15,134 shares during the period. Finally, Zions Bancorporation N.A. lifted its holdings in shares of Mercury Systems by 33.1% in the 3rd quarter. Zions Bancorporation N.A. now owns 34,622 shares of the technology company’s stock worth $1,284,000 after buying an additional 8,608 shares during the period. Hedge funds and other institutional investors own 95.99% of the company’s stock.

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.