Mercury Systems (NASDAQ:MRCY) Stock Rating Lowered by Wall Street Zen

Mercury Systems (NASDAQ:MRCY) was downgraded by stock analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Saturday.

A number of other research analysts also recently commented on MRCY. Jefferies Financial Group reiterated a “hold” rating and issued a $115.00 price objective on shares of Mercury Systems in a report on Friday, July 10th. Canaccord Genuity Group boosted their target price on Mercury Systems from $102.00 to $106.00 and gave the stock a “buy” rating in a research note on Thursday, May 7th. JPMorgan Chase & Co. upped their price target on Mercury Systems from $99.00 to $101.00 and gave the company a “neutral” rating in a report on Monday, July 13th. Truist Financial upgraded shares of Mercury Systems to a “strong-buy” rating in a research report on Friday, May 1st. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Mercury Systems in a report on Tuesday, April 21st. Three investment analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating, two have issued a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $95.78.

Mercury Systems Price Performance

Mercury Systems stock opened at $96.08 on Friday. The company has a current ratio of 3.19, a quick ratio of 2.15 and a debt-to-equity ratio of 0.40. The company has a fifty day simple moving average of $107.49 and a 200-day simple moving average of $92.93. The stock has a market cap of $5.77 billion, a P/E ratio of -400.33 and a beta of 0.93. Mercury Systems has a 12-month low of $50.13 and a 12-month high of $128.45.

Mercury Systems (NASDAQ:MRCY) last posted its earnings results on Tuesday, May 5th. The technology company reported $0.27 EPS for the quarter, beating 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 posted $0.06 earnings per share. Mercury Systems’s revenue for the quarter was up 11.5% compared to the same quarter last year. Equities analysts expect that Mercury Systems will post 0.35 EPS for the current fiscal year.

Insider Activity

In other Mercury Systems news, Director Orlando D. Carvalho sold 7,000 shares of the business’s stock in a transaction that occurred on Tuesday, May 12th. The stock was sold at an average price of $89.36, for a total value of $625,520.00. Following the completion of the sale, the director owned 52,448 shares in the company, valued at approximately $4,686,753.28. The trade was a 11.77% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Howard L. Lance sold 9,250 shares of the stock in a transaction that occurred on Tuesday, May 26th. The shares were sold at an average price of $99.76, for a total value of $922,780.00. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 18,250 shares of company stock valued at $1,733,220. Insiders own 1.40% of the company’s stock.

Hedge Funds Weigh In On Mercury Systems

A number of institutional investors have recently modified their holdings of MRCY. First Bank & Trust purchased a new stake in Mercury Systems in the 2nd quarter valued at $205,000. Hennion & Walsh Asset Management Inc. boosted its stake in Mercury Systems by 11.3% during the 2nd quarter. Hennion & Walsh Asset Management Inc. now owns 43,902 shares of the technology company’s stock worth $5,371,000 after purchasing an additional 4,457 shares during the period. GAMMA Investing LLC grew its position in Mercury Systems by 8.5% during the 2nd quarter. GAMMA Investing LLC now owns 1,984 shares of the technology company’s stock worth $243,000 after purchasing an additional 155 shares during the last quarter. Moody National Bank Trust Division grew its position in Mercury Systems by 12.5% during the 2nd quarter. Moody National Bank Trust Division now owns 46,204 shares of the technology company’s stock worth $5,652,000 after purchasing an additional 5,124 shares during the last quarter. Finally, Segall Bryant & Hamill LLC increased its stake in Mercury Systems by 46.9% in the first quarter. Segall Bryant & Hamill LLC now owns 934,824 shares of the technology company’s stock valued at $68,158,000 after purchasing an additional 298,298 shares during the period. 95.99% of the stock is owned by institutional investors and hedge funds.

Mercury Systems Company Profile

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.