Mercury Systems Inc (NASDAQ:MRCY) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a note issued to investors on Thursday.

According to Zacks, “Mercury Systems, Inc. is a commercial provider of secure sensor and mission processing subsystems for defense and intelligence programs. The Company’s products and solutions are deployed in more than 300 programs with over 25 different defense prime contractors. “

Other equities research analysts also recently issued research reports about the company. Jefferies Group LLC reiterated a “hold” rating and set a $43.00 price target on shares of Mercury Systems in a report on Wednesday, May 31st. Noble Financial reiterated a “hold” rating on shares of Mercury Systems in a report on Thursday, August 3rd. Finally, BidaskClub upgraded Mercury Systems from a “buy” rating to a “strong-buy” rating in a report on Saturday, June 24th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $43.00.

Mercury Systems (NASDAQ:MRCY) traded down 0.38% during midday trading on Thursday, hitting $47.03. The stock had a trading volume of 592,255 shares. The stock’s 50-day moving average is $46.41 and its 200-day moving average is $41.52. Mercury Systems has a 1-year low of $22.31 and a 1-year high of $49.24. The stock has a market capitalization of $2.26 billion, a PE ratio of 81.09 and a beta of 0.42.

Mercury Systems (NASDAQ:MRCY) last announced its quarterly earnings results on Tuesday, August 1st. The technology company reported $0.32 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.24 by $0.08. Mercury Systems had a return on equity of 4.87% and a net margin of 6.09%. The business had revenue of $115.60 million during the quarter, compared to the consensus estimate of $115.11 million. During the same quarter in the prior year, the company posted $0.23 earnings per share. Mercury Systems’s revenue was up 35.3% compared to the same quarter last year. On average, equities research analysts anticipate that Mercury Systems will post $1.24 EPS for the current fiscal year.

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In other news, CEO Mark Aslett sold 4,800 shares of the company’s stock in a transaction on Monday, September 11th. The stock was sold at an average price of $47.42, for a total transaction of $227,616.00. Following the transaction, the chief executive officer now owns 519,382 shares of the company’s stock, valued at approximately $24,629,094.44. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Charles A. Speicher sold 7,000 shares of the company’s stock in a transaction on Monday, August 7th. The shares were sold at an average price of $44.09, for a total value of $308,630.00. Following the transaction, the vice president now directly owns 36,983 shares in the company, valued at approximately $1,630,580.47. The disclosure for this sale can be found here. In the last three months, insiders sold 21,400 shares of company stock worth $990,518. Insiders own 3.50% of the company’s stock.

Several hedge funds and other institutional investors have recently modified their holdings of the company. Piedmont Investment Advisors LLC purchased a new position in shares of Mercury Systems during the 2nd quarter valued at $437,000. Ameritas Investment Partners Inc. lifted its position in shares of Mercury Systems by 5.0% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 4,114 shares of the technology company’s stock valued at $173,000 after buying an additional 195 shares during the last quarter. The Manufacturers Life Insurance Company lifted its position in shares of Mercury Systems by 14.2% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 35,648 shares of the technology company’s stock valued at $1,500,000 after buying an additional 4,440 shares during the last quarter. Migdal Insurance & Financial Holdings Ltd. lifted its position in shares of Mercury Systems by 63.9% during the 2nd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 54,563 shares of the technology company’s stock valued at $2,279,000 after buying an additional 21,273 shares during the last quarter. Finally, State Street Corp lifted its position in shares of Mercury Systems by 13.2% during the 2nd quarter. State Street Corp now owns 1,684,565 shares of the technology company’s stock valued at $70,906,000 after buying an additional 196,075 shares during the last quarter. 96.67% of the stock is currently owned by hedge funds and other institutional investors.

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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Analyst Recommendations for Mercury Systems (NASDAQ:MRCY)

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