Brokerages Set Mercury Systems Inc (MRCY) Price Target at $50.00
Mercury Systems Inc (NASDAQ:MRCY) has received an average rating of “Buy” from the nine research firms that are presently covering the company, MarketBeat Ratings reports. Three analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. The average twelve-month target price among brokerages that have issued a report on the stock in the last year is $50.00.
MRCY has been the subject of a number of analyst reports. Noble Financial reaffirmed a “hold” rating on shares of Mercury Systems in a report on Thursday, October 26th. SunTrust Banks reaffirmed a “buy” rating on shares of Mercury Systems in a report on Friday, October 20th. Robert W. Baird increased their price target on shares of Mercury Systems from $48.00 to $59.00 and gave the company an “outperform” rating in a report on Wednesday, October 25th. Finally, Zacks Investment Research downgraded shares of Mercury Systems from a “hold” rating to a “sell” rating in a report on Thursday, September 14th.
Shares of Mercury Systems (MRCY) traded down $0.94 during trading hours on Thursday, hitting $48.12. 601,539 shares of the company were exchanged, compared to its average volume of 408,192. Mercury Systems has a 1 year low of $29.31 and a 1 year high of $54.49. The company has a market cap of $2,320.00, a P/E ratio of 55.02, a price-to-earnings-growth ratio of 4.25 and a beta of 0.23.
In other Mercury Systems news, CFO Gerald M. Haines II sold 2,500 shares of the firm’s stock in a transaction dated Monday, October 2nd. The shares were sold at an average price of $51.94, for a total value of $129,850.00. Following the completion of the sale, the chief financial officer now owns 220,760 shares of the company’s stock, valued at $11,466,274.40. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Mark Aslett sold 4,800 shares of the firm’s stock in a transaction dated Monday, October 30th. The stock was sold at an average price of $49.92, for a total transaction of $239,616.00. Following the completion of the sale, the chief executive officer now directly owns 509,782 shares of the company’s stock, valued at approximately $25,448,317.44. The disclosure for this sale can be found here. In the last three months, insiders sold 50,500 shares of company stock valued at $2,578,949. 3.50% of the stock is owned by insiders.
A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. lifted its stake in Mercury Systems by 4.6% in the second quarter. Vanguard Group Inc. now owns 4,118,060 shares of the technology company’s stock worth $173,329,000 after purchasing an additional 180,028 shares during the last quarter. Wells Fargo & Company MN increased its position in shares of Mercury Systems by 2.8% during the third quarter. Wells Fargo & Company MN now owns 2,292,917 shares of the technology company’s stock worth $118,956,000 after acquiring an additional 62,496 shares during the period. State Street Corp increased its position in shares of Mercury Systems by 13.2% during the second quarter. State Street Corp now owns 1,684,565 shares of the technology company’s stock worth $70,906,000 after acquiring an additional 196,075 shares during the period. Goldman Sachs Group Inc. increased its position in shares of Mercury Systems by 5.1% during the second quarter. Goldman Sachs Group Inc. now owns 1,293,723 shares of the technology company’s stock worth $54,453,000 after acquiring an additional 62,547 shares during the period. Finally, Bamco Inc. NY increased its position in shares of Mercury Systems by 8.9% during the third quarter. Bamco Inc. NY now owns 1,226,000 shares of the technology company’s stock worth $63,605,000 after acquiring an additional 100,000 shares during the period. 96.38% of the stock is owned by institutional investors and hedge funds.
Mercury Systems Company Profile
Mercury Systems, Inc is a commercial provider of secure processing subsystems designed and made in the United States. The Company’s solutions support a range of defense and intelligence programs. Its technologies include embedded processing modules and subsystems, radio frequency (RF) and microwave multi-function assemblies, as well as subsystems, and RF and microwave components.
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