Mercury Systems’ (MRCY) “Buy” Rating Reaffirmed at Robert W. Baird
Mercury Systems Inc (NASDAQ:MRCY)‘s stock had its “buy” rating reiterated by stock analysts at Robert W. Baird in a research report issued on Tuesday. They presently have a $48.00 target price on the technology company’s stock. Robert W. Baird’s target price would indicate a potential downside of 9.14% from the company’s current price.
A number of other analysts have also recently issued reports on the company. Zacks Investment Research upgraded Mercury Systems from a “hold” rating to a “buy” rating and set a $47.00 price objective on the stock in a research report on Wednesday, July 5th. SunTrust Banks, Inc. reiterated a “buy” rating and issued a $51.00 price target on shares of Mercury Systems in a research report on Monday, October 2nd. Noble Financial reissued a “hold” rating on shares of Mercury Systems in a research note on Thursday, August 3rd. Finally, Jefferies Group LLC reissued a “hold” rating and issued a $45.00 price objective on shares of Mercury Systems in a research note on Wednesday, August 2nd. Three 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 stock. The company currently has an average rating of “Buy” and a consensus price target of $47.83.
Shares of Mercury Systems (NASDAQ:MRCY) traded up 2.09% during mid-day trading on Tuesday, reaching $52.83. 354,895 shares of the company’s stock traded hands. Mercury Systems has a 1-year low of $23.43 and a 1-year high of $53.56. The company has a market capitalization of $2.54 billion, a P/E ratio of 91.09 and a beta of 0.41. The firm has a 50-day moving average price of $50.19 and a 200-day moving average price of $43.96.
Mercury Systems (NASDAQ:MRCY) last posted its earnings results on Tuesday, August 1st. The technology company reported $0.32 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.24 by $0.08. The firm had revenue of $115.60 million during the quarter, compared to analyst estimates of $115.11 million. Mercury Systems had a return on equity of 4.87% and a net margin of 6.09%. The company’s revenue for the quarter was up 35.3% on a year-over-year basis. During the same period in the previous year, the company earned $0.23 EPS. On average, equities research analysts forecast that Mercury Systems will post $1.24 earnings per share for the current fiscal year.
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In other news, CFO Gerald M. Haines II sold 2,500 shares of the company’s stock in a transaction on Monday, October 2nd. The stock was sold at an average price of $51.94, for a total transaction of $129,850.00. Following the transaction, the chief financial officer now owns 220,760 shares of the company’s stock, valued at $11,466,274.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 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. Insiders have sold 23,900 shares of company stock worth $1,120,368 in the last ninety days. 3.50% of the stock is currently owned by insiders.
Several institutional investors and hedge funds have recently modified their holdings of the company. BlackRock Inc. lifted its stake in shares of Mercury Systems by 242,823.0% during the first quarter. BlackRock Inc. now owns 6,646,372 shares of the technology company’s stock valued at $259,540,000 after acquiring an additional 6,643,636 shares during the period. Vanguard Group Inc. lifted its stake in shares of Mercury Systems by 4.6% during the second quarter. Vanguard Group Inc. now owns 4,118,060 shares of the technology company’s stock valued at $173,329,000 after acquiring an additional 180,028 shares during the period. Wells Fargo & Company MN lifted its stake in shares of Mercury Systems by 323.5% during the second quarter. Wells Fargo & Company MN now owns 2,230,421 shares of the technology company’s stock valued at $93,878,000 after acquiring an additional 1,703,774 shares during the period. State Street Corp lifted its stake in shares of Mercury Systems by 13.2% during the second quarter. State Street Corp now owns 1,684,565 shares of the technology company’s stock valued at $70,906,000 after acquiring an additional 196,075 shares during the period. Finally, Goldman Sachs Group Inc. lifted its stake in shares of Mercury Systems by 5.1% during the second quarter. Goldman Sachs Group Inc. now owns 1,293,723 shares of the technology company’s stock valued at $54,453,000 after acquiring an additional 62,547 shares during the period. 96.39% of the stock is currently 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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