Wall Street Zen Upgrades Mercury Systems (NASDAQ:MRCY) to Buy

Mercury Systems (NASDAQ:MRCY) was upgraded by stock analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Saturday.

A number of other analysts have also weighed in on MRCY. Canaccord Genuity Group increased their price objective on shares of Mercury Systems from $102.00 to $106.00 and gave the stock a “buy” rating in a research report on Thursday, May 7th. Jefferies Financial Group restated a “hold” rating and set a $105.00 target price on shares of Mercury Systems in a research report on Monday, June 1st. Truist Financial raised Mercury Systems to a “strong-buy” rating in a research note on Friday, May 1st. The Goldman Sachs Group increased their price target on Mercury Systems from $60.00 to $68.00 and gave the stock a “sell” rating in a report on Monday, May 11th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Mercury Systems in a research note on Tuesday, April 21st. Two investment analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating, three have assigned a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, Mercury Systems has a consensus rating of “Moderate Buy” and a consensus target price of $91.00.

Mercury Systems Stock Performance

MRCY stock opened at $126.21 on Friday. Mercury Systems has a twelve month low of $49.86 and a twelve month high of $127.83. The stock has a market capitalization of $7.58 billion, a price-to-earnings ratio of -525.88 and a beta of 0.93. The company has a quick ratio of 2.15, a current ratio of 3.19 and a debt-to-equity ratio of 0.40. The firm’s fifty day simple moving average is $102.49 and its two-hundred day simple moving average is $90.42.

Mercury Systems (NASDAQ:MRCY) last released its earnings results on Tuesday, May 5th. The technology company reported $0.27 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.06 by $0.21. Mercury Systems had a negative net margin of 1.46% and a positive return on equity of 2.22%. The firm had revenue of $235.76 million during the quarter, compared to analyst estimates of $208.56 million. During the same quarter last year, the business earned $0.06 EPS. The business’s revenue was up 11.5% on a year-over-year basis. As a group, analysts anticipate that Mercury Systems will post 0.31 earnings per share for the current year.

Insider Activity at Mercury Systems

In related news, Director Howard L. Lance sold 9,250 shares of Mercury Systems stock in a transaction dated Tuesday, May 26th. The shares were sold at an average price of $99.76, for a total transaction of $922,780.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP David E. Farnsworth sold 3,625 shares of Mercury Systems stock in a transaction dated Thursday, April 16th. The shares were sold at an average price of $84.87, for a total transaction of $307,653.75. Following the sale, the executive vice president owned 157,701 shares of the company’s stock, valued at $13,384,083.87. The trade was a 2.25% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last quarter, insiders sold 21,875 shares of company stock worth $2,040,874. 1.40% of the stock is currently owned by corporate insiders.

Institutional Trading of Mercury Systems

A number of large investors have recently modified their holdings of the company. AQR Capital Management LLC bought a new position in Mercury Systems in the first quarter worth approximately $755,000. Goldman Sachs Group Inc. raised its position in Mercury Systems by 51.6% during the 1st quarter. Goldman Sachs Group Inc. now owns 855,441 shares of the technology company’s stock valued at $36,861,000 after purchasing an additional 290,989 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in shares of Mercury Systems by 13.4% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 159,617 shares of the technology company’s stock worth $6,878,000 after buying an additional 18,916 shares during the period. Jane Street Group LLC lifted its holdings in shares of Mercury Systems by 161.3% in the 1st quarter. Jane Street Group LLC now owns 50,769 shares of the technology company’s stock worth $2,188,000 after buying an additional 31,337 shares during the period. Finally, JPMorgan Chase & Co. grew its position in shares of Mercury Systems by 30.3% during the 2nd quarter. JPMorgan Chase & Co. now owns 124,973 shares of the technology company’s stock worth $6,731,000 after buying an additional 29,057 shares in the last quarter. Hedge funds and other institutional investors own 95.99% of the company’s stock.

About Mercury Systems

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.