Bank of America Trims Mercury Systems (MRCY) Target Price to $50.00

Mercury Systems (NASDAQ:MRCY) had its price target dropped by investment analysts at Bank of America from $60.00 to $50.00 in a research report issued on Thursday. The firm currently has a “buy” rating on the technology company’s stock. Bank of America’s price target suggests a potential upside of 14.81% from the company’s previous close.

Several other brokerages have also issued reports on MRCY. Zacks Investment Research upgraded Mercury Systems from a “hold” rating to a “strong-buy” rating and set a $60.00 price target on the stock in a research note on Wednesday, December 27th. Noble Financial restated a “hold” rating on shares of Mercury Systems in a research note on Thursday, October 26th. Robert W. Baird boosted their price target on Mercury Systems from $48.00 to $59.00 and gave the company an “outperform” rating in a research note on Wednesday, October 25th. SunTrust Banks restated a “buy” rating and set a $61.00 price target on shares of Mercury Systems in a research note on Tuesday, January 9th. Finally, BidaskClub lowered Mercury Systems from a “sell” rating to a “strong sell” rating in a research note on Friday, January 19th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and five have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $54.71.

Shares of Mercury Systems (NASDAQ MRCY) traded down $1.27 on Thursday, reaching $43.55. The company had a trading volume of 258,454 shares, compared to its average volume of 449,799. Mercury Systems has a 1 year low of $33.94 and a 1 year high of $55.00. The company has a market capitalization of $2,137.15, a price-to-earnings ratio of 47.34, a price-to-earnings-growth ratio of 3.81 and a beta of 0.33.

Mercury Systems (NASDAQ:MRCY) last issued its quarterly earnings results on Tuesday, January 23rd. The technology company reported $0.28 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.30 by ($0.02). Mercury Systems had a net margin of 9.61% and a return on equity of 6.32%. The firm had revenue of $117.90 million for the quarter, compared to the consensus estimate of $114.89 million. During the same quarter in the prior year, the firm earned $0.30 earnings per share. The company’s revenue was up 20.3% on a year-over-year basis. equities analysts expect that Mercury Systems will post 1.09 earnings per share for the current year.

In other news, insider Mark Aslett sold 9,600 shares of the business’s stock in a transaction that occurred on Thursday, November 16th. The stock was sold at an average price of $50.11, for a total value of $481,056.00. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Vincent Vitto sold 8,500 shares of the business’s stock in a transaction that occurred on Monday, December 4th. The stock was sold at an average price of $52.04, for a total value of $442,340.00. Following the completion of the transaction, the director now directly owns 79,539 shares in the company, valued at $4,139,209.56. The disclosure for this sale can be found here. Insiders have sold 70,600 shares of company stock worth $3,558,499 over the last ninety days. Company insiders own 3.50% of the company’s stock.

Several institutional investors and hedge funds have recently made changes to their positions in MRCY. BlackRock Inc. boosted its holdings in shares of Mercury Systems by 242,823.0% in the 1st quarter. BlackRock Inc. now owns 6,646,372 shares of the technology company’s stock worth $259,540,000 after acquiring an additional 6,643,636 shares in the last quarter. Wells Fargo & Company MN boosted its holdings in shares of Mercury Systems by 323.5% in the 2nd quarter. Wells Fargo & Company MN now owns 2,230,421 shares of the technology company’s stock worth $93,878,000 after acquiring an additional 1,703,774 shares in the last quarter. Goldman Sachs Group Inc. boosted its holdings in shares of Mercury Systems by 920.0% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,231,176 shares of the technology company’s stock worth $48,077,000 after acquiring an additional 1,110,474 shares in the last quarter. Gilder Gagnon Howe & Co. LLC acquired a new position in shares of Mercury Systems in the 1st quarter worth approximately $35,579,000. Finally, Vanguard Group Inc. boosted its holdings in shares of Mercury Systems by 21.6% in the 1st quarter. Vanguard Group Inc. now owns 3,938,032 shares of the technology company’s stock worth $153,780,000 after acquiring an additional 700,484 shares in the last quarter. 96.26% of the stock is currently owned by institutional investors and hedge funds.

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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.

Analyst Recommendations for Mercury Systems (NASDAQ:MRCY)

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