Mercury Systems Inc. (MRCY) Given Consensus Recommendation of “Buy” by Brokerages
Shares of Mercury Systems Inc. (NASDAQ:MRCY) have been given an average rating of “Buy” by the ten brokerages that are covering the firm. One analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation and six have given a buy recommendation to the company. The average 12-month target price among brokerages that have updated their coverage on the stock in the last year is $28.00.
Several analysts have issued reports on MRCY shares. Zacks Investment Research downgraded Mercury Systems from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, July 19th. Drexel Hamilton started coverage on Mercury Systems in a research note on Thursday, August 25th. They issued a “buy” rating on the stock. Jefferies Group reissued a “hold” rating and issued a $27.00 price target (up previously from $22.00) on shares of Mercury Systems in a research note on Thursday, August 4th. Robert W. Baird started coverage on Mercury Systems in a research note on Wednesday, October 5th. They issued an “outperform” rating and a $30.00 price target on the stock. Finally, Noble Financial reissued a “hold” rating on shares of Mercury Systems in a research note on Wednesday, August 3rd. They noted that the move was a valuation call.
In related news, Director Vincent Vitto sold 8,000 shares of Mercury Systems stock in a transaction dated Friday, October 7th. The stock was sold at an average price of $24.27, for a total transaction of $194,160.00. Following the completion of the transaction, the director now owns 61,893 shares in the company, valued at $1,502,143.11. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 4.30% of the stock is owned by corporate insiders.
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A number of institutional investors have recently bought and sold shares of the company. Renaissance Technologies LLC boosted its position in Mercury Systems by 26.5% in the first quarter. Renaissance Technologies LLC now owns 955,635 shares of the company’s stock worth $19,399,000 after buying an additional 200,190 shares during the last quarter. Kennedy Capital Management Inc. boosted its position in Mercury Systems by 3.9% in the first quarter. Kennedy Capital Management Inc. now owns 612,395 shares of the company’s stock worth $12,432,000 after buying an additional 22,832 shares during the last quarter. Hancock Holding Co. boosted its position in Mercury Systems by 1.1% in the first quarter. Hancock Holding Co. now owns 57,344 shares of the company’s stock worth $1,164,000 after buying an additional 621 shares during the last quarter. Adirondack Research & Management Inc. acquired a new position in Mercury Systems during the first quarter worth approximately $584,000. Finally, Goldman Sachs Group Inc. boosted its position in Mercury Systems by 66.1% in the first quarter. Goldman Sachs Group Inc. now owns 59,230 shares of the company’s stock worth $1,203,000 after buying an additional 23,576 shares during the last quarter. Institutional investors and hedge funds own 91.83% of the company’s stock.
Mercury Systems (NASDAQ:MRCY) traded up 1.58% during trading on Monday, hitting $23.73. The company had a trading volume of 80,299 shares. The stock has a market capitalization of $957.74 million, a PE ratio of 42.38 and a beta of 0.86. The stock has a 50-day moving average of $23.36 and a 200-day moving average of $22.81. Mercury Systems has a one year low of $15.67 and a one year high of $26.37.
Mercury Systems (NASDAQ:MRCY) last released its quarterly earnings results on Tuesday, August 2nd. The company reported $0.29 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.14 by $0.15. Mercury Systems had a return on equity of 6.47% and a net margin of 7.31%. The firm had revenue of $85.40 million for the quarter, compared to the consensus estimate of $69.51 million. During the same quarter last year, the business posted $0.18 EPS. The company’s revenue for the quarter was up 7.3% on a year-over-year basis. On average, equities analysts anticipate that Mercury Systems will post $0.73 EPS for the current year.
Mercury Systems Company Profile
Mercury Systems, Inc is a commercial provider of secure processing subsystems designed and made in the United States. The Company’s solutions support a range of defense and intelligence programs. The Company’s technologies include embedded processing modules and subsystems, radio frequency (RF) and microwave multi-function assemblies, as well as subsystems, and RF and microwave components.
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