Mercury Systems (NASDAQ:MRCY) Rating Lowered to Hold at Zacks Research

Mercury Systems (NASDAQ:MRCY) was downgraded by research analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a research report issued to clients and investors on Tuesday,Zacks.com reports.

Other equities analysts have also issued reports about the company. JPMorgan Chase & Co. boosted their price target on Mercury Systems from $99.00 to $101.00 and gave the company a “neutral” rating in a research note on Monday, July 13th. Truist Financial upgraded Mercury Systems to a “strong-buy” rating in a research report on Friday, May 1st. 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 report on Thursday, May 7th. Jefferies Financial Group restated a “hold” rating and set a $115.00 price objective on shares of Mercury Systems in a research report on Friday, July 10th. Finally, The Goldman Sachs Group boosted their price objective on Mercury Systems from $60.00 to $68.00 and gave the company a “sell” rating in a research report on Monday, May 11th. Two analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating, three have issued a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, Mercury Systems presently has a consensus rating of “Moderate Buy” and an average price target of $95.78.

Mercury Systems Price Performance

Shares of Mercury Systems stock opened at $107.44 on Tuesday. The company has a debt-to-equity ratio of 0.40, a current ratio of 3.19 and a quick ratio of 2.15. The company has a market cap of $6.45 billion, a PE ratio of -447.67 and a beta of 0.95. The firm has a fifty day moving average price of $109.09 and a two-hundred day moving average price of $94.26. Mercury Systems has a fifty-two week low of $51.86 and a fifty-two week high of $128.45.

Mercury Systems (NASDAQ:MRCY) last posted its quarterly earnings data on Tuesday, May 5th. The technology company reported $0.27 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.06 by $0.21. Mercury Systems had a negative net margin of 1.46% and a positive return on equity of 2.22%. The company had revenue of $235.76 million for the quarter, compared to the consensus estimate of $208.56 million. During the same quarter in the previous year, the firm posted $0.06 EPS. The business’s revenue was up 11.5% compared to the same quarter last year. Analysts expect that Mercury Systems will post 0.33 EPS for the current year.

Insider Activity at Mercury Systems

In other Mercury Systems news, EVP Steven Ratner sold 2,000 shares of the company’s stock in a transaction that occurred on Monday, May 11th. The shares were sold at an average price of $92.46, for a total value of $184,920.00. Following the completion of the sale, the executive vice president owned 32,238 shares of the company’s stock, valued at approximately $2,980,725.48. This represents a 5.84% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Orlando D. Carvalho sold 7,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 12th. The stock was sold at an average price of $89.36, for a total transaction of $625,520.00. Following the sale, the director owned 52,448 shares in the company, valued at $4,686,753.28. This trade represents a 11.77% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 18,250 shares of company stock valued at $1,733,220 over the last quarter. Corporate insiders own 1.40% of the company’s stock.

Hedge Funds Weigh In On Mercury Systems

Several hedge funds have recently made changes to their positions in the business. Osaic Holdings Inc. raised its holdings in shares of Mercury Systems by 53.2% in the second quarter. Osaic Holdings Inc. now owns 599 shares of the technology company’s stock valued at $32,000 after purchasing an additional 208 shares during the last quarter. Leonteq Securities AG bought a new position in Mercury Systems in the fourth quarter valued at $35,000. Hollencrest Capital Management acquired a new stake in Mercury Systems in the 4th quarter valued at $37,000. Federated Hermes Inc. acquired a new stake in Mercury Systems in the 2nd quarter valued at $43,000. Finally, Rockefeller Capital Management L.P. lifted its position in Mercury Systems by 53.6% during the 4th quarter. Rockefeller Capital Management L.P. now owns 653 shares of the technology company’s stock worth $48,000 after buying an additional 228 shares in the last quarter. 95.99% of the stock is owned by institutional investors.

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.