Mercury Systems Inc (NASDAQ:MRCY) Stock Has Consensus Target Price of $107.18

Shares of Mercury Systems Inc (NASDAQ:MRCY) have received a consensus rating of “Moderate Buy” from the fourteen brokerages that are presently covering the company, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a sell recommendation, four have issued a hold recommendation, six have assigned a buy recommendation and two have given a strong buy recommendation to the company. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is $107.18.

MRCY has been the subject of a number of recent analyst reports. Oppenheimer started coverage on shares of Mercury Systems in a research report on Thursday, October 22nd. They issued an “outperform” rating and a $90.00 price objective for the company. Wall Street Zen cut Mercury Systems from a “buy” rating to a “hold” rating in a research report on Saturday, July 18th. Jefferies Financial Group reissued a “hold” rating and set a $115.00 target price on shares of Mercury Systems in a research note on Friday, July 10th. Weiss Ratings downgraded Mercury Systems from a “sell (d)” rating to a “sell (d-)” rating in a research note on Monday, September 28th. Finally, JPMorgan Chase & Co. raised their price target on Mercury Systems from $99.00 to $101.00 and gave the company a “neutral” rating in a report on Monday, July 13th.

Insiders Place Their Bets

In other Mercury Systems news, EVP David E. Farnsworth sold 8,155 shares of the business’s stock in a transaction on Wednesday, August 19th. The shares were sold at an average price of $100.31, for a total transaction of $818,028.05. Following the sale, the executive vice president directly owned 124,579 shares in the company, valued at approximately $12,496,519.49. The trade was a 6.14% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO William L. Ballhaus sold 111,076 shares of the company’s stock in a transaction on Tuesday, August 25th. The stock was sold at an average price of $87.12, for a total transaction of $9,676,941.12. Following the transaction, the chief executive officer directly owned 342,436 shares in the company, valued at approximately $29,833,024.32. This trade represents a 24.49% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 452,186 shares of company stock worth $41,933,170 in the last ninety days. 0.99% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Public Employees Retirement System of Ohio acquired a new stake in Mercury Systems during the 2nd quarter valued at $43,000. Barrow Hanley Mewhinney & Strauss LLC purchased a new position in Mercury Systems during the second quarter worth $52,000. IFP Advisors Inc raised its holdings in shares of Mercury Systems by 250.8% in the second quarter. IFP Advisors Inc now owns 463 shares of the technology company’s stock worth $57,000 after acquiring an additional 331 shares during the last quarter. Rockefeller Capital Management L.P. raised its holdings in shares of Mercury Systems by 53.6% in the fourth quarter. Rockefeller Capital Management L.P. now owns 653 shares of the technology company’s stock worth $48,000 after acquiring an additional 228 shares during the last quarter. Finally, Quantbot Technologies LP acquired a new position in shares of Mercury Systems in the second quarter worth $82,000. 95.99% of the stock is currently owned by institutional investors and hedge funds.

Mercury Systems Trading Down 0.2%

NASDAQ MRCY opened at $77.37 on Friday. The firm’s fifty day moving average is $81.69 and its two-hundred day moving average is $91.73. Mercury Systems has a one year low of $65.04 and a one year high of $128.45. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.85 and a current ratio of 2.96. The firm has a market cap of $4.71 billion, a PE ratio of -154.74 and a beta of 0.97.

Mercury Systems (NASDAQ:MRCY) last announced its earnings results on Tuesday, August 18th. The technology company reported $0.37 earnings per share for the quarter, missing the consensus estimate of $0.38 by ($0.01). Mercury Systems had a positive return on equity of 1.29% and a negative net margin of 3.02%. The business had revenue of $289.78 million for the quarter, compared to analyst estimates of $266.09 million. During the same quarter last year, the company posted $0.47 EPS. Mercury Systems’s quarterly revenue was up 6.1% on a year-over-year basis. Analysts expect that Mercury Systems will post 0.91 earnings per share for the current year.

About Mercury Systems

Mercury Systems, Inc is an aerospace and defense technology company that develops and manufactures mission-critical computing and electronic systems. Its products are designed for use in aircraft, unmanned systems, naval vessels, ground vehicles, radar platforms and other defense applications.

The company provides embedded computing solutions, including high-performance processors, ruggedized computers, secure servers, data-storage systems and software. Its portfolio also includes radio-frequency and microwave components, electronic warfare systems, signal processing technologies and systems used for radar, communications, avionics and intelligence, surveillance and reconnaissance missions.

Founded in 1981 and headquartered in Andover, Massachusetts, Mercury Systems primarily serves the U.S.