Mercury Systems Inc (NASDAQ:MRCY) Stock Has Average Price Target of $112.80 According to Brokerages

Shares of Mercury Systems Inc (NASDAQ:MRCY) have earned a consensus recommendation of “Moderate Buy” from the thirteen analysts that are presently covering the stock, MarketBeat Ratings reports. Two research analysts have rated the stock with a sell recommendation, four have issued a hold recommendation, five have given a buy recommendation and two have issued a strong buy recommendation on the company. The average 12 month price objective among brokerages that have issued ratings on the stock in the last year is $112.80.

A number of research analysts have recently issued reports on the stock. Robert W. Baird lifted their target price on shares of Mercury Systems from $120.00 to $130.00 and gave the company an “outperform” rating in a research note on Wednesday, August 19th. Weiss Ratings downgraded Mercury Systems from a “sell (d)” rating to a “sell (d-)” rating in a report on Monday, September 28th. Piper Sandler restated an “overweight” rating and set a $131.00 price target (up from $126.00) on shares of Mercury Systems in a research report on Wednesday, August 19th. Jefferies Financial Group reaffirmed a “hold” rating and set a $115.00 price target on shares of Mercury Systems in a report on Friday, July 10th. Finally, Royal Bank Of Canada lifted their price objective on Mercury Systems from $105.00 to $120.00 and gave the company an “outperform” rating in a research report on Wednesday, August 19th.

Insiders Place Their Bets

In other news, EVP David Farnsworth sold 8,155 shares of the stock in a transaction on Wednesday, August 19th. The stock was sold at an average price of $100.31, for a total transaction of $818,028.05. Following the sale, the executive vice president owned 124,579 shares in the company, valued at approximately $12,496,519.49. This represents a 6.14% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO William Ballhaus sold 111,076 shares of the firm’s stock in a transaction on Tuesday, August 25th. The shares were sold at an average price of $87.12, for a total value of $9,676,941.12. Following the completion of the sale, the chief executive officer owned 342,436 shares of the company’s stock, valued at approximately $29,833,024.32. This trade represents a 24.49% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 451,186 shares of company stock worth $41,857,170. Insiders own 0.99% of the company’s stock.

Hedge Funds Weigh In On Mercury Systems

A number of large investors have recently modified their holdings of MRCY. BlackRock Inc. acquired a new stake in shares of Mercury Systems during the 2nd quarter worth approximately $1,146,342,000. Bamco Inc. NY bought a new position in Mercury Systems during the second quarter worth about $74,244,000. American Capital Management Inc. acquired a new position in shares of Mercury Systems in the 2nd quarter valued at approximately $59,460,000. William Blair Investment Management LLC bought a new stake in shares of Mercury Systems during the second quarter worth $46,453,000. Finally, Bank of New York Mellon Corp acquired a new stake in shares of Mercury Systems in the 2nd quarter valued at about $38,438,000. 95.99% of the stock is currently owned by institutional investors and hedge funds.

Mercury Systems Stock Down 2.3%

Shares of NASDAQ MRCY opened at $77.67 on Tuesday. Mercury Systems has a 52-week low of $65.04 and a 52-week high of $128.45. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.85 and a current ratio of 2.96. The business has a fifty day moving average of $90.14 and a two-hundred day moving average of $94.71. The stock has a market cap of $4.73 billion, a PE ratio of -155.34 and a beta of 0.97.

Mercury Systems (NASDAQ:MRCY) last posted its earnings results on Tuesday, August 18th. The technology company reported $0.37 earnings per share for the quarter, missing the consensus estimate of $0.38 by ($0.01). Mercury Systems had a positive return on equity of 1.29% and a negative net margin of 3.02%. The firm had revenue of $289.78 million during the quarter, compared to the consensus estimate of $266.09 million. During the same period in the previous year, the company posted $0.47 EPS. The firm’s revenue for the quarter was up 6.1% compared to the same quarter last year. As a group, equities research analysts expect that Mercury Systems will post 0.91 earnings per share for the current fiscal year.

Mercury Systems Company Profile

Mercury Systems, Inc is a technology company that develops and manufactures mission-critical solutions for the aerospace and defense industries. Its products are designed to help customers process, secure and manage data in demanding environments, including aircraft, unmanned systems, radar platforms and other defense applications.

The company’s portfolio includes embedded computing systems, high-performance processors, ruggedized servers, trusted computing products, radio-frequency and microwave components, sensor-processing technologies, avionics solutions and mission displays.