Zacks Research Upgrades Mercury Systems (NASDAQ:MRCY) to Strong-Buy

Mercury Systems (NASDAQ:MRCY) was upgraded by equities research analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a note issued to investors on Monday,Zacks.com reports.

A number of other equities research analysts have also recently commented on the company. The Goldman Sachs Group raised their price objective on Mercury Systems from $60.00 to $68.00 and gave the company a “sell” rating in a research note on Monday, May 11th. Wall Street Zen upgraded Mercury Systems from a “hold” rating to a “buy” rating in a report on Saturday. Truist Financial raised shares of Mercury Systems to a “strong-buy” rating in a research report on Friday, May 1st. Weiss Ratings restated a “sell (d-)” rating on shares of Mercury Systems in a research note on Tuesday, April 21st. Finally, Jefferies Financial Group restated a “hold” rating and set a $105.00 price objective on shares of Mercury Systems in a report on Monday, June 1st. Three research analysts have rated the stock with a Strong Buy rating, three have given a Buy rating, two have issued a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $91.00.

Mercury Systems Price Performance

MRCY stock opened at $115.83 on Monday. The stock has a market capitalization of $6.95 billion, a PE ratio of -482.62 and a beta of 0.93. The company’s 50-day moving average is $104.13 and its 200-day moving average is $91.22. The company has a debt-to-equity ratio of 0.40, a current ratio of 3.19 and a quick ratio of 2.15. Mercury Systems has a 1 year low of $49.86 and a 1 year high of $128.45.

Mercury Systems (NASDAQ:MRCY) last issued its earnings results on Tuesday, May 5th. The technology company reported $0.27 EPS for the quarter, beating analysts’ consensus estimates of $0.06 by $0.21. Mercury Systems had a positive return on equity of 2.22% and a negative net margin of 1.46%.The business had revenue of $235.76 million during the quarter, compared to analyst estimates of $208.56 million. During the same period in the previous year, the company posted $0.06 EPS. The firm’s revenue was up 11.5% compared to the same quarter last year. Equities research analysts expect that Mercury Systems will post 0.31 EPS for the current fiscal year.

Insider Buying and Selling

In related news, EVP Steven Ratner sold 2,000 shares of Mercury Systems stock in a transaction that occurred on Monday, May 11th. The stock was sold at an average price of $92.46, for a total transaction 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. The trade was a 5.84% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Orlando D. Carvalho sold 7,000 shares of the company’s stock in a transaction on Tuesday, May 12th. The stock was sold at an average price of $89.36, for a total value of $625,520.00. Following the sale, the director owned 52,448 shares of the company’s stock, valued at $4,686,753.28. This trade represents a 11.77% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 21,875 shares of company stock valued at $2,040,874. Company insiders own 1.40% of the company’s stock.

Hedge Funds Weigh In On Mercury Systems

A number of hedge funds have recently bought and sold shares of MRCY. State Street Corp grew its stake in shares of Mercury Systems by 12.1% in the 4th quarter. State Street Corp now owns 3,423,600 shares of the technology company’s stock worth $249,957,000 after acquiring an additional 368,242 shares in the last quarter. Invesco Ltd. lifted its position in shares of Mercury Systems by 25.1% during the fourth quarter. Invesco Ltd. now owns 1,910,742 shares of the technology company’s stock valued at $139,503,000 after purchasing an additional 383,299 shares in the last quarter. T. Rowe Price Investment Management Inc. boosted its holdings in Mercury Systems by 1.4% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 1,542,851 shares of the technology company’s stock worth $112,644,000 after purchasing an additional 21,182 shares during the last quarter. Geode Capital Management LLC boosted its holdings in Mercury Systems by 3.6% during the fourth quarter. Geode Capital Management LLC now owns 1,368,659 shares of the technology company’s stock worth $99,940,000 after purchasing an additional 47,174 shares during the last quarter. Finally, Bamco Inc. NY grew its position in Mercury Systems by 4.9% in the 3rd quarter. Bamco Inc. NY now owns 1,295,284 shares of the technology company’s stock worth $100,255,000 after purchasing an additional 60,483 shares in the last quarter. 95.99% of the stock is owned by hedge funds and other institutional investors.

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.