Mercury Systems (MRCY) Downgraded by Zacks Investment Research

Mercury Systems (NASDAQ:MRCY) was downgraded by Zacks Investment Research from a “strong-buy” rating to a “hold” rating in a research report issued to clients and investors on Saturday.

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. “

A number of other research analysts have also recently commented on the company. BidaskClub cut Mercury Systems from a “sell” rating to a “strong sell” rating in a report on Friday. SunTrust Banks reiterated a “buy” rating and issued a $61.00 price objective on shares of Mercury Systems in a report on Tuesday, January 9th. Noble Financial reiterated a “hold” rating on shares of Mercury Systems in a report on Thursday, October 26th. Finally, Robert W. Baird upped their price objective on Mercury Systems from $48.00 to $59.00 and gave the company an “outperform” rating in a report on Wednesday, October 25th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and five have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $53.33.

Mercury Systems (NASDAQ MRCY) opened at $50.55 on Friday. Mercury Systems has a twelve month low of $30.80 and a twelve month high of $55.00. The company has a market capitalization of $2,472.86, a P/E ratio of 58.78, a P/E/G ratio of 4.43 and a beta of 0.23.

Mercury Systems (NASDAQ:MRCY) last released its quarterly earnings data on Tuesday, October 24th. The technology company reported $0.37 EPS for the quarter, beating analysts’ consensus estimates of $0.26 by $0.11. Mercury Systems had a return on equity of 6.51% and a net margin of 9.14%. The firm had revenue of $106.10 million for the quarter, compared to analysts’ expectations of $105.18 million. During the same period in the prior year, the firm posted $0.22 earnings per share. The firm’s quarterly revenue was up 21.1% on a year-over-year basis. research analysts expect that Mercury Systems will post 1.09 EPS for the current fiscal year.

In other Mercury Systems news, COO Didier M. C. Thibaud sold 3,500 shares of the business’s stock in a transaction that occurred on Tuesday, January 16th. The stock was sold at an average price of $51.48, for a total value of $180,180.00. Following the sale, the chief operating officer now owns 365,940 shares of the company’s stock, valued at $18,838,591.20. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Mark Aslett sold 4,800 shares of the business’s stock in a transaction that occurred on Monday, October 30th. The shares were sold at an average price of $49.92, for a total value of $239,616.00. Following the completion of the sale, the chief executive officer now directly owns 509,782 shares in the company, valued at approximately $25,448,317.44. The disclosure for this sale can be found here. In the last three months, insiders sold 65,800 shares of company stock worth $3,351,345. 3.50% of the stock is owned by corporate insiders.

Hedge funds and other institutional investors have recently made changes to their positions in the business. Atlantic Trust Group LLC purchased a new stake in Mercury Systems in the third quarter valued at approximately $1,258,000. Thrivent Financial For Lutherans raised its position in Mercury Systems by 8.3% in the second quarter. Thrivent Financial For Lutherans now owns 29,020 shares of the technology company’s stock valued at $1,221,000 after purchasing an additional 2,230 shares during the period. Bamco Inc. NY raised its position in Mercury Systems by 8.9% in the third quarter. Bamco Inc. NY now owns 1,226,000 shares of the technology company’s stock valued at $63,605,000 after purchasing an additional 100,000 shares during the period. Legal & General Group Plc raised its position in Mercury Systems by 8.2% in the third quarter. Legal & General Group Plc now owns 93,854 shares of the technology company’s stock valued at $4,866,000 after purchasing an additional 7,122 shares during the period. Finally, Janney Montgomery Scott LLC purchased a new stake in Mercury Systems in the third quarter valued at approximately $1,065,000. 96.28% of the stock is currently owned by institutional investors.

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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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