BidaskClub Upgrades Mercury Systems Inc (MRCY) to “Strong-Buy”
Mercury Systems Inc (NASDAQ:MRCY) was upgraded by research analysts at BidaskClub from a “buy” rating to a “strong-buy” rating in a note issued to investors on Saturday.
Other equities research analysts have also issued reports about the company. Citigroup Inc. raised their price objective on Mercury Systems to $48.00 and gave the stock a “buy” rating in a research note on Monday, March 20th. Zacks Investment Research raised Mercury Systems from a “hold” rating to a “buy” rating and set a $44.00 price objective for the company in a research note on Thursday, April 13th. Jefferies Group LLC reissued a “hold” rating and set a $43.00 price objective on shares of Mercury Systems in a research note on Wednesday, May 31st. Finally, Noble Financial reissued a “hold” rating on shares of Mercury Systems in a research note on Thursday, April 27th. Two equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus target price of $42.17.
Shares of Mercury Systems (NASDAQ:MRCY) traded up 2.09% during mid-day trading on Friday, hitting $41.57. The stock had a trading volume of 2,027,896 shares. The company has a 50 day moving average price of $39.38 and a 200 day moving average price of $36.32. Mercury Systems has a 12-month low of $21.52 and a 12-month high of $41.89. The firm has a market cap of $2.00 billion, a P/E ratio of 71.80 and a beta of 0.42.
Mercury Systems (NASDAQ:MRCY) last released its quarterly earnings data on Tuesday, April 25th. The technology company reported $0.16 earnings per share for the quarter, topping the consensus estimate of $0.14 by $0.02. The business had revenue of $107.30 million during the quarter, compared to analyst estimates of $105.54 million. Mercury Systems had a return on equity of 4.58% and a net margin of 6.48%. The company’s revenue was up 62.8% compared to the same quarter last year. During the same period last year, the company posted $0.25 EPS. Equities analysts forecast that Mercury Systems will post $1.10 earnings per share for the current fiscal year.
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In other Mercury Systems news, Director Michael A. Daniels bought 2,683 shares of the firm’s stock in a transaction dated Friday, April 28th. The stock was acquired at an average price of $37.31 per share, with a total value of $100,102.73. Following the completion of the transaction, the director now directly owns 60,096 shares in the company, valued at approximately $2,242,181.76. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Mark Aslett sold 9,600 shares of the firm’s stock in a transaction on Friday, May 5th. The stock was sold at an average price of $39.92, for a total value of $383,232.00. Following the completion of the sale, the insider now directly owns 567,049 shares of the company’s stock, valued at approximately $22,636,596.08. The disclosure for this sale can be found here. In the last ninety days, insiders sold 68,200 shares of company stock valued at $2,719,188. 4.30% of the stock is currently owned by insiders.
Hedge funds have recently modified their holdings of the company. BlackRock Inc. boosted its stake in shares of Mercury Systems by 242,823.0% in the first quarter. BlackRock Inc. now owns 6,646,372 shares of the technology company’s stock valued at $259,540,000 after buying an additional 6,643,636 shares during the period. Goldman Sachs Group Inc. boosted its stake in shares of Mercury Systems by 920.0% in the first quarter. Goldman Sachs Group Inc. now owns 1,231,176 shares of the technology company’s stock valued at $48,077,000 after buying an additional 1,110,474 shares during the period. Gilder Gagnon Howe & Co. LLC acquired a new stake in shares of Mercury Systems during the first quarter valued at approximately $35,579,000. Vanguard Group Inc. boosted its stake in shares of Mercury Systems by 21.6% in the first quarter. Vanguard Group Inc. now owns 3,938,032 shares of the technology company’s stock valued at $153,780,000 after buying an additional 700,484 shares during the period. Finally, Alliancebernstein L.P. boosted its stake in shares of Mercury Systems by 1,334.8% in the first quarter. Alliancebernstein L.P. now owns 627,008 shares of the technology company’s stock valued at $24,485,000 after buying an additional 583,308 shares during the period. 99.50% of the stock is owned by institutional investors and hedge funds.
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. Its 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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