Mercury Systems Inc (NASDAQ:MRCY) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Mercury Systems Inc (NASDAQ:MRCY) has received a consensus recommendation of “Moderate Buy” from the ten research firms that are covering the stock, MarketBeat reports. Two analysts have rated the stock with a sell rating, three have given a hold rating, three have given a buy rating and two have issued a strong buy rating on the company. The average 1 year price target among brokerages that have updated their coverage on the stock in the last year is $91.00.

Several brokerages have recently issued reports on MRCY. Royal Bank Of Canada reiterated an “outperform” rating and issued a $105.00 price objective on shares of Mercury Systems in a research note on Wednesday, February 4th. Weiss Ratings reissued a “sell (d-)” rating on shares of Mercury Systems in a research report on Tuesday, April 21st. Jefferies Financial Group reissued a “hold” rating and set a $105.00 target price on shares of Mercury Systems in a research report on Monday. Canaccord Genuity Group raised their target price on Mercury Systems from $102.00 to $106.00 and gave the stock a “buy” rating in a research report on Thursday, May 7th. Finally, Truist Financial raised Mercury Systems to a “strong-buy” rating in a research report on Friday, May 1st.

Mercury Systems Stock Performance

Shares of MRCY opened at $112.87 on Wednesday. The stock has a 50-day simple moving average of $85.38 and a 200-day simple moving average of $83.11. The company has a debt-to-equity ratio of 0.40, a quick ratio of 2.15 and a current ratio of 3.19. The stock has a market capitalization of $6.78 billion, a PE ratio of -470.29 and a beta of 0.94. Mercury Systems has a 1 year low of $48.75 and a 1 year high of $114.98.

Mercury Systems (NASDAQ:MRCY) last announced its quarterly earnings data on Tuesday, May 5th. The technology company reported $0.27 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.06 by $0.21. The business had revenue of $235.76 million during the quarter, compared to analysts’ expectations of $208.56 million. Mercury Systems had a positive return on equity of 2.22% and a negative net margin of 1.46%.The business’s quarterly revenue was up 11.5% compared to the same quarter last year. During the same quarter last year, the business posted $0.06 EPS. On average, analysts predict that Mercury Systems will post 0.18 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director Orlando D. Carvalho sold 7,000 shares of the firm’s stock in a transaction dated Tuesday, May 12th. The stock was sold at an average price of $89.36, for a total transaction of $625,520.00. Following the sale, the director owned 52,448 shares of the company’s stock, valued at approximately $4,686,753.28. This trade represents a 11.77% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Howard L. Lance sold 9,250 shares of the firm’s stock in a transaction dated Tuesday, May 26th. The stock was sold at an average price of $99.76, for a total value of $922,780.00. The SEC filing for this sale provides additional information. Insiders sold a total of 21,875 shares of company stock worth $2,040,874 over the last 90 days. Insiders own 1.40% of the company’s stock.

Institutional Investors Weigh In On Mercury Systems

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Nordea Investment Management AB acquired a new position in Mercury Systems during the fourth quarter worth approximately $4,954,000. Cresset Asset Management LLC acquired a new position in Mercury Systems during the third quarter worth approximately $1,862,000. Public Sector Pension Investment Board increased its position in Mercury Systems by 18.7% during the third quarter. Public Sector Pension Investment Board now owns 205,644 shares of the technology company’s stock worth $15,917,000 after buying an additional 32,443 shares during the period. Penn Capital Management Company LLC acquired a new position in Mercury Systems during the third quarter worth approximately $14,292,000. Finally, State of New Jersey Common Pension Fund D acquired a new position in Mercury Systems during the third quarter worth approximately $2,508,000. Institutional investors and hedge funds own 95.99% of the company’s stock.

Mercury Systems Company Profile

Mercury Systems, Inc (NASDAQ: MRCY) is a technology company that designs, manufactures and markets secure processing subsystems for aerospace and defense applications. The company’s products are built to address the stringent security, safety and reliability requirements of mission-critical programs, with a focus on radar, electronic warfare, intelligence and other sensor and processing functions. Mercury’s offerings encompass rugged embedded computing modules, high-performance radio frequency (RF) and microwave components, digital signal processing subsystems and secure networking solutions.

Since its origins in advanced signal processing, Mercury Systems has expanded its capabilities through a combination of internal development and targeted acquisitions.