Wall Street Zen Downgrades Mercury Systems (NASDAQ:MRCY) to Hold

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

A number of other equities analysts also recently commented on the company. Canaccord Genuity Group lifted their price objective on Mercury Systems from $102.00 to $106.00 and gave the stock a “buy” rating in a research report on Thursday, May 7th. The Goldman Sachs Group upped their target price on Mercury Systems from $60.00 to $68.00 and gave the company a “sell” rating in a report on Monday, May 11th. Jefferies Financial Group reaffirmed a “hold” rating and issued a $115.00 target price on shares of Mercury Systems in a research note on Friday, July 10th. Truist Financial upgraded Mercury Systems to a “strong-buy” rating in a report on Friday, May 1st. Finally, JPMorgan Chase & Co. boosted their price target on shares of Mercury Systems from $99.00 to $101.00 and gave the company a “neutral” rating in a research report on Monday, July 13th. Three research analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating, two have given a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $95.78.

Mercury Systems Stock Up 0.1%

MRCY stock opened at $96.08 on Friday. The company has a current ratio of 3.19, a quick ratio of 2.15 and a debt-to-equity ratio of 0.40. The firm has a 50-day moving average of $107.49 and a two-hundred day moving average of $92.80. Mercury Systems has a 12 month low of $50.13 and a 12 month high of $128.45. The company has a market cap of $5.77 billion, a price-to-earnings ratio of -400.33 and a beta of 0.93.

Mercury Systems (NASDAQ:MRCY) last issued its earnings results on Tuesday, May 5th. The technology company reported $0.27 earnings per share for the quarter, topping the consensus estimate of $0.06 by $0.21. The business had revenue of $235.76 million for 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 revenue for the quarter was up 11.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.06 EPS. As a group, analysts forecast that Mercury Systems will post 0.35 earnings per share for the current fiscal year.

Insider Buying and Selling at Mercury Systems

In other Mercury Systems news, EVP Steven Ratner sold 2,000 shares of the company’s stock in a transaction dated Monday, May 11th. The shares were sold at an average price of $92.46, for a total value of $184,920.00. Following the transaction, the executive vice president owned 32,238 shares of the company’s stock, valued at $2,980,725.48. This represents a 5.84% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Howard L. Lance sold 9,250 shares of the stock in a transaction dated Tuesday, May 26th. The stock was sold at an average price of $99.76, for a total transaction of $922,780.00. The SEC filing for this sale provides additional information. Insiders have sold 18,250 shares of company stock valued at $1,733,220 over the last 90 days. 1.40% of the stock is owned by insiders.

Institutional Trading of Mercury Systems

Several institutional investors have recently added to or reduced their stakes in MRCY. Nordea Investment Management AB purchased a new position in shares of Mercury Systems during the fourth quarter worth $4,954,000. One Capital Management LLC grew its stake in shares of Mercury Systems by 43.6% in the fourth quarter. One Capital Management LLC now owns 29,300 shares of the technology company’s stock valued at $2,139,000 after buying an additional 8,893 shares in the last quarter. Bessemer Group Inc. raised its holdings in shares of Mercury Systems by 45.6% in the 4th quarter. Bessemer Group Inc. now owns 399,496 shares of the technology company’s stock valued at $29,168,000 after buying an additional 125,194 shares during the period. Louisiana State Employees Retirement System purchased a new stake in shares of Mercury Systems in the 1st quarter valued at $1,706,000. Finally, Peregrine Capital Management LLC lifted its stake in Mercury Systems by 6,562.5% during the 4th quarter. Peregrine Capital Management LLC now owns 142,178 shares of the technology company’s stock worth $10,380,000 after acquiring an additional 140,044 shares in the last quarter. Institutional investors and hedge funds 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.