Mercury Systems (NASDAQ:MRCY) Coverage Initiated by Analysts at Oppenheimer

Research analysts at Oppenheimer assumed coverage on shares of Mercury Systems (NASDAQ:MRCY) in a research note issued to investors on Thursday, Briefing.com reports. The brokerage set an “outperform” rating and a $90.00 price target on the technology company’s stock. Oppenheimer’s price target indicates a potential upside of 19.22% from the company’s previous close.

Other research analysts have also issued research reports about the company. Deutsche Bank Aktiengesellschaft lowered Mercury Systems to a “hold” rating in a research note on Wednesday, August 12th. Weiss Ratings downgraded Mercury Systems from a “sell (d)” rating to a “sell (d-)” rating in a research report on Monday, September 28th. Jefferies Financial Group reaffirmed a “hold” rating and issued a $115.00 price objective on shares of Mercury Systems in a research report on Friday, July 10th. Wall Street Zen lowered Mercury Systems from a “buy” rating to a “hold” rating in a research note on Saturday, July 18th. Finally, Guggenheim began coverage on Mercury Systems in a research report on Monday, September 14th. They set a “buy” rating and a $115.00 target price on the stock. Two research analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating, four have given a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $110.73.

Mercury Systems Price Performance

Mercury Systems stock opened at $75.49 on Thursday. Mercury Systems has a 12-month low of $65.04 and a 12-month high of $128.45. The stock has a market capitalization of $4.59 billion, a P/E ratio of 232.91 and a beta of 0.97. The firm’s 50-day moving average is $85.38 and its two-hundred day moving average is $94.79. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.96 and a quick ratio of 1.85.

Mercury Systems (NASDAQ:MRCY) last posted its quarterly earnings data on Tuesday, August 18th. The technology company reported $0.37 earnings per share for the quarter, missing analysts’ consensus estimates of $0.38 by ($0.01). The firm had revenue of $289.78 million during the quarter, compared to analyst estimates of $266.09 million. Mercury Systems had a negative net margin of 3.02% and a positive return on equity of 1.29%. The business’s quarterly revenue was up 6.1% on a year-over-year basis. During the same period in the prior year, the firm earned $0.47 EPS. Equities analysts predict that Mercury Systems will post 0.91 earnings per share for the current year.

Insider Activity at Mercury Systems

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

Institutional Trading of Mercury Systems

Institutional investors and hedge funds have recently made changes to their positions in the company. Public Employees Retirement System of Ohio purchased a new position in shares of Mercury Systems in the 2nd quarter worth $43,000. Barrow Hanley Mewhinney & Strauss LLC acquired a new stake in Mercury Systems during the second quarter worth about $52,000. IFP Advisors Inc increased its stake in Mercury Systems by 250.8% during the second quarter. IFP Advisors Inc now owns 463 shares of the technology company’s stock worth $57,000 after acquiring an additional 331 shares during the last quarter. Rockefeller Capital Management L.P. increased its stake in Mercury Systems by 53.6% during the fourth quarter. Rockefeller Capital Management L.P. now owns 653 shares of the technology company’s stock worth $48,000 after acquiring an additional 228 shares during the last quarter. Finally, Quantbot Technologies LP purchased a new position in shares of Mercury Systems in the 2nd quarter worth about $82,000. 95.99% of the stock is currently owned by institutional investors and hedge funds.

About Mercury Systems

Mercury Systems, Inc is an aerospace and defense technology company that develops and manufactures mission-critical computing and electronic systems. Its products are designed for use in aircraft, unmanned systems, naval vessels, ground vehicles, radar platforms and other defense applications.

The company provides embedded computing solutions, including high-performance processors, ruggedized computers, secure servers, data-storage systems and software. Its portfolio also includes radio-frequency and microwave components, electronic warfare systems, signal processing technologies and systems used for radar, communications, avionics and intelligence, surveillance and reconnaissance missions.

Founded in 1981 and headquartered in Andover, Massachusetts, Mercury Systems primarily serves the U.S.