Truist Financial Increases Mercury Systems (NASDAQ:MRCY) Price Target to $60.00

Mercury Systems (NASDAQ:MRCY) had its price objective boosted by Truist Financial from $56.00 to $60.00 in a research report issued on Monday,Benzinga reports. The firm presently has a “buy” rating on the technology company’s stock. Truist Financial’s price target points to a potential upside of 18.02% from the stock’s current price.

A number of other analysts have also weighed in on the stock. Robert W. Baird upgraded shares of Mercury Systems from a “neutral” rating to an “outperform” rating and raised their price objective for the company from $37.00 to $58.00 in a research note on Wednesday, February 5th. Royal Bank of Canada lifted their price target on shares of Mercury Systems from $48.00 to $50.00 and gave the stock a “sector perform” rating in a research note on Wednesday, May 7th. The Goldman Sachs Group lifted their price target on shares of Mercury Systems from $30.00 to $33.00 and gave the stock a “sell” rating in a research note on Monday, May 12th. Finally, Baird R W upgraded shares of Mercury Systems from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, February 5th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $47.29.

Mercury Systems Stock Up 1.0%

NASDAQ:MRCY opened at $50.84 on Monday. The firm has a market cap of $3.04 billion, a P/E ratio of -32.59 and a beta of 0.70. The company has a debt-to-equity ratio of 0.41, a quick ratio of 2.36 and a current ratio of 3.62. Mercury Systems has a fifty-two week low of $26.48 and a fifty-two week high of $52.25. The firm has a 50-day simple moving average of $47.08 and a two-hundred day simple moving average of $44.05.

Mercury Systems (NASDAQ:MRCY) last released its quarterly earnings data on Tuesday, May 6th. The technology company reported $0.06 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.06. The business had revenue of $211.36 million during the quarter, compared to analyst estimates of $204.25 million. Mercury Systems had a negative net margin of 10.23% and a negative return on equity of 2.03%. Mercury Systems’s revenue was up 1.5% compared to the same quarter last year. During the same period last year, the business earned ($0.26) EPS. Analysts predict that Mercury Systems will post -0.08 earnings per share for the current fiscal year.

Insider Transactions at Mercury Systems

In related news, Director Jana Partners Management, Lp sold 88,152 shares of the business’s stock in a transaction that occurred on Thursday, May 8th. The shares were sold at an average price of $46.27, for a total transaction of $4,078,793.04. Following the completion of the sale, the director now directly owns 6,861,313 shares in the company, valued at approximately $317,472,952.51. The trade was a 1.27% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Steven Ratner sold 3,892 shares of the business’s stock in a transaction that occurred on Thursday, May 8th. The shares were sold at an average price of $47.70, for a total transaction of $185,648.40. Following the sale, the executive vice president now owns 56,187 shares of the company’s stock, valued at $2,680,119.90. This trade represents a 6.48% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 1.60% of the company’s stock.

Institutional Trading of Mercury Systems

Several large investors have recently added to or reduced their stakes in MRCY. Barclays PLC grew its position in Mercury Systems by 471.3% during the third quarter. Barclays PLC now owns 175,562 shares of the technology company’s stock valued at $6,496,000 after buying an additional 144,831 shares during the period. KBC Group NV grew its position in Mercury Systems by 49.4% during the fourth quarter. KBC Group NV now owns 2,496 shares of the technology company’s stock valued at $105,000 after buying an additional 825 shares during the period. Conestoga Capital Advisors LLC grew its position in Mercury Systems by 55.9% during the fourth quarter. Conestoga Capital Advisors LLC now owns 2,072,817 shares of the technology company’s stock valued at $87,058,000 after buying an additional 743,552 shares during the period. Verity Asset Management Inc. grew its position in Mercury Systems by 20.8% during the fourth quarter. Verity Asset Management Inc. now owns 8,943 shares of the technology company’s stock valued at $376,000 after buying an additional 1,541 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. bought a new stake in Mercury Systems during the fourth quarter valued at approximately $75,000. 95.99% of the stock is currently owned by institutional investors.

About Mercury Systems

Mercury Systems, Inc, a technology company, manufactures and sells components, products, modules, and subsystems for aerospace and defense industries in the United States, Europe, and the Asia Pacific. Its products and solutions are deployed in approximately 300 programs with 25 defense contractors and commercial aviation customers.