Mercury Systems Inc (NASDAQ:MRCY) Receives $86.89 Average Target Price from Brokerages

Mercury Systems Inc (NASDAQ:MRCY) has been given a consensus recommendation of “Hold” by the ten analysts that are currently covering the firm, Marketbeat.com reports. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. The average 1-year price target among brokers that have updated their coverage on the stock in the last year is $86.8889.

MRCY has been the subject of several research reports. Canaccord Genuity Group set a $102.00 price target on shares of Mercury Systems in a research report on Wednesday, February 4th. Royal Bank Of Canada reissued an “outperform” rating and issued a $105.00 price objective on shares of Mercury Systems in a report on Wednesday, February 4th. Jefferies Financial Group restated a “hold” rating and set a $85.00 target price on shares of Mercury Systems in a research report on Sunday, February 8th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Mercury Systems in a report on Thursday, January 22nd. Finally, The Goldman Sachs Group lifted their price target on shares of Mercury Systems from $49.00 to $55.00 and gave the stock a “sell” rating in a research note on Tuesday, January 20th.

Insider Buying and Selling

In related news, CAO Douglas Munro sold 582 shares of Mercury Systems stock in a transaction on Tuesday, February 17th. The stock was sold at an average price of $83.56, for a total transaction of $48,631.92. Following the transaction, the chief accounting officer directly owned 14,328 shares in the company, valued at approximately $1,197,247.68. The trade was a 3.90% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Jana Partners Management, Lp sold 400,000 shares of the business’s stock in a transaction dated Monday, February 9th. The shares were sold at an average price of $81.00, for a total value of $32,400,000.00. Following the sale, the director directly owned 4,566,675 shares of the company’s stock, valued at $369,900,675. This represents a 8.05% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 859,758 shares of company stock valued at $74,481,931 in the last 90 days. 1.40% of the stock is owned by company insiders.

Institutional Investors Weigh In On Mercury Systems

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Hsbc Holdings PLC purchased a new position in Mercury Systems during the fourth quarter valued at approximately $248,000. Rockefeller Capital Management L.P. boosted its position 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 purchasing an additional 228 shares during the period. Corient Private Wealth LLC increased its stake in shares of Mercury Systems by 35.7% in the fourth quarter. Corient Private Wealth LLC now owns 7,811 shares of the technology company’s stock worth $573,000 after purchasing an additional 2,056 shares in the last quarter. Corecam Pte. Ltd. purchased a new stake in shares of Mercury Systems in the fourth quarter worth $321,000. Finally, T. Rowe Price Investment Management Inc. raised its position in shares of Mercury Systems by 1.4% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 1,542,851 shares of the technology company’s stock valued at $112,644,000 after purchasing an additional 21,182 shares during the period. 95.99% of the stock is owned by hedge funds and other institutional investors.

Mercury Systems Stock Performance

MRCY stock opened at $77.26 on Friday. The company has a market cap of $4.64 billion, a P/E ratio of -145.77, a price-to-earnings-growth ratio of 7.48 and a beta of 0.77. Mercury Systems has a 1 year low of $39.89 and a 1 year high of $103.84. The company has a debt-to-equity ratio of 0.41, a current ratio of 2.96 and a quick ratio of 2.04. The stock’s fifty day moving average price is $89.33 and its 200-day moving average price is $79.91.

Mercury Systems (NASDAQ:MRCY) last posted its quarterly earnings data on Tuesday, February 3rd. The technology company reported $0.16 EPS for the quarter, beating analysts’ consensus estimates of $0.07 by $0.09. Mercury Systems had a positive return on equity of 1.28% and a negative net margin of 3.23%.The company had revenue of $232.87 million during the quarter, compared to analysts’ expectations of $209.96 million. During the same quarter in the prior year, the business earned $0.07 earnings per share. Mercury Systems’s revenue for the quarter was up 4.4% compared to the same quarter last year. On average, equities analysts forecast that Mercury Systems will post -0.08 earnings per share for the current year.

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.