Mercury Systems Inc (NASDAQ:MRCY) Given Average Recommendation of “Moderate Buy” by Brokerages

Mercury Systems Inc (NASDAQ:MRCY) has received an average rating of “Moderate Buy” from the ten ratings firms that are currently covering the firm, Marketbeat.com reports. Two equities research analysts have rated the stock with a sell recommendation, three have given a hold recommendation, three have issued a buy recommendation and two have given a strong buy recommendation to the company. The average 1-year target price among brokerages that have issued a report on the stock in the last year is $91.00.

MRCY has been the topic of several recent analyst reports. Canaccord Genuity Group increased their target price on Mercury Systems from $102.00 to $106.00 and gave the company a “buy” rating in a report on Thursday, May 7th. Truist Financial raised Mercury Systems to a “strong-buy” rating in a report on Friday, May 1st. The Goldman Sachs Group upped their price objective on Mercury Systems from $60.00 to $68.00 and gave the stock a “sell” rating in a research report on Monday, May 11th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Mercury Systems in a research report on Tuesday, April 21st. Finally, Jefferies Financial Group reiterated a “hold” rating and issued a $105.00 price objective on shares of Mercury Systems in a report on Monday, June 1st.

Insider Transactions at Mercury Systems

In related news, EVP David E. Farnsworth sold 3,625 shares of the firm’s stock in a transaction that occurred on Thursday, April 16th. The stock was sold at an average price of $84.87, for a total transaction of $307,653.75. Following the transaction, the executive vice president owned 157,701 shares in the company, valued at $13,384,083.87. This trade represents a 2.25% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Howard L. Lance sold 9,250 shares of the business’s stock in a transaction that occurred on Tuesday, May 26th. The stock was sold at an average price of $99.76, for a total value of $922,780.00. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 21,875 shares of company stock worth $2,040,874. 1.40% of the stock is owned by company insiders.

Institutional Trading of Mercury Systems

A number of institutional investors have recently bought and sold shares of MRCY. Osaic Holdings Inc. lifted its holdings in Mercury Systems by 53.2% in the 2nd quarter. Osaic Holdings Inc. now owns 599 shares of the technology company’s stock valued at $32,000 after purchasing an additional 208 shares in the last quarter. Leonteq Securities AG purchased a new stake in shares of Mercury Systems during the fourth quarter worth about $35,000. Hollencrest Capital Management acquired a new position in shares of Mercury Systems in the fourth quarter valued at approximately $37,000. Federated Hermes Inc. acquired a new position in shares of Mercury Systems in the second quarter valued at approximately $43,000. Finally, Rockefeller Capital Management L.P. lifted its stake in shares of Mercury Systems by 53.6% during the fourth quarter. Rockefeller Capital Management L.P. now owns 653 shares of the technology company’s stock valued at $48,000 after buying an additional 228 shares during the period. 95.99% of the stock is currently owned by hedge funds and other institutional investors.

Mercury Systems Trading Up 2.6%

Shares of MRCY stock opened at $126.21 on Friday. Mercury Systems has a 1-year low of $49.86 and a 1-year high of $127.83. The firm has a market cap of $7.58 billion, a PE ratio of -525.88 and a beta of 0.93. The company has a 50-day moving average of $101.62 and a two-hundred day moving average of $90.17. The company has a debt-to-equity ratio of 0.40, a current ratio of 3.19 and a quick ratio of 2.15.

Mercury Systems (NASDAQ:MRCY) last posted its earnings results on Tuesday, May 5th. The technology company reported $0.27 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.06 by $0.21. Mercury Systems had a positive return on equity of 2.22% and a negative net margin of 1.46%.The firm had revenue of $235.76 million for the quarter, compared to analyst estimates of $208.56 million. During the same quarter in the prior year, the company earned $0.06 EPS. Mercury Systems’s revenue was up 11.5% on a year-over-year basis. On average, analysts predict that Mercury Systems will post 0.31 EPS for the current year.

About Mercury Systems

Mercury Systems, Inc (NASDAQ: MRCY) is a technology company that designs, manufactures and markets secure processing subsystems for aerospace and defense applications. The company’s products are built to address the stringent security, safety and reliability requirements of mission-critical programs, with a focus on radar, electronic warfare, intelligence and other sensor and processing functions. Mercury’s offerings encompass rugged embedded computing modules, high-performance radio frequency (RF) and microwave components, digital signal processing subsystems and secure networking solutions.

Since its origins in advanced signal processing, Mercury Systems has expanded its capabilities through a combination of internal development and targeted acquisitions.