Mercury Systems Inc (MRCY) Upgraded to “Hold” at Zacks Investment Research
Mercury Systems Inc (NASDAQ:MRCY) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report issued on Wednesday.
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. “
Several other equities research analysts also recently issued reports on the company. Noble Financial reaffirmed a “hold” rating on shares of Mercury Systems in a report on Thursday, August 3rd. Jefferies Group LLC reaffirmed a “hold” rating and set a $45.00 price objective on shares of Mercury Systems in a research report on Wednesday, August 2nd. SunTrust Banks, Inc. reaffirmed a “buy” rating and set a $51.00 price objective on shares of Mercury Systems in a research report on Monday. Finally, BidaskClub upgraded shares of Mercury Systems from a “buy” rating to a “strong-buy” rating in a report on Saturday, June 24th. Three investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target of $45.50.
Shares of Mercury Systems (NASDAQ:MRCY) opened at 52.71 on Wednesday. Mercury Systems has a 1-year low of $22.31 and a 1-year high of $52.94. The company has a 50 day moving average of $48.20 and a 200 day moving average of $42.58. The company has a market cap of $2.54 billion, a PE ratio of 90.88 and a beta of 0.41.
Mercury Systems (NASDAQ:MRCY) last issued its earnings results on Tuesday, August 1st. The technology company reported $0.32 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 company had revenue of $115.60 million during the quarter, compared to the consensus estimate of $115.11 million. During the same period in the previous year, the company posted $0.23 EPS. The firm’s revenue for the quarter was up 35.3% compared to the same quarter last year. Equities analysts expect that Mercury Systems will post $1.24 earnings per share for the current fiscal year.
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In related news, VP Charles A. Speicher sold 7,000 shares of the business’s stock in a transaction on Monday, August 7th. The stock was sold at an average price of $44.09, for a total value of $308,630.00. Following the completion of the sale, the vice president now directly owns 36,983 shares in the company, valued at approximately $1,630,580.47. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Mark Aslett sold 9,600 shares of the business’s stock in a transaction on Tuesday, September 12th. The shares were sold at an average price of $47.32, for a total value of $454,272.00. Following the completion of the sale, the insider now owns 519,382 shares of the company’s stock, valued at $24,577,156.24. The disclosure for this sale can be found here. In the last quarter, insiders have sold 23,900 shares of company stock worth $1,120,368. 3.50% of the stock is owned by corporate insiders.
Hedge funds have recently bought and sold shares of the business. Louisiana State Employees Retirement System lifted its holdings in shares of Mercury Systems by 0.6% during the third quarter. Louisiana State Employees Retirement System now owns 17,800 shares of the technology company’s stock worth $437,000 after buying an additional 100 shares in the last quarter. Arizona State Retirement System boosted its holdings in Mercury Systems by 0.5% in the 3rd quarter. Arizona State Retirement System now owns 20,875 shares of the technology company’s stock valued at $513,000 after purchasing an additional 100 shares during the period. Los Angeles Capital Management & Equity Research Inc. boosted its holdings in Mercury Systems by 1.1% in the 3rd quarter. Los Angeles Capital Management & Equity Research Inc. now owns 11,005 shares of the technology company’s stock valued at $270,000 after purchasing an additional 115 shares during the period. Texas Permanent School Fund boosted its holdings in Mercury Systems by 0.5% in the 3rd quarter. Texas Permanent School Fund now owns 30,746 shares of the technology company’s stock valued at $755,000 after purchasing an additional 139 shares during the period. Finally, Suntrust Banks Inc. boosted its holdings in Mercury Systems by 0.8% in the 2nd quarter. Suntrust Banks Inc. now owns 18,030 shares of the technology company’s stock valued at $447,000 after purchasing an additional 141 shares during the period. Hedge funds and other institutional investors own 96.43% of the company’s stock.
About Mercury Systems
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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