Mercury Systems (NASDAQ:MRCY) Downgraded by Zacks Research to “Hold”

Zacks Research lowered shares of Mercury Systems (NASDAQ:MRCY) from a strong-buy rating to a hold rating in a research report released on Tuesday,Zacks.com reports.

Several other equities research analysts also recently commented on MRCY. Jefferies Financial Group reiterated a “hold” rating and issued a $115.00 price objective on shares of Mercury Systems in a report on Friday, July 10th. Weiss Ratings restated a “sell (d-)” rating on shares of Mercury Systems in a research note on Friday, July 17th. JPMorgan Chase & Co. raised their price target on shares of Mercury Systems from $99.00 to $101.00 and gave the company a “neutral” rating in a report on Monday, July 13th. Truist Financial upgraded shares of Mercury Systems to a “strong-buy” rating in a research note on Friday, May 1st. Finally, Wall Street Zen cut shares of Mercury Systems from a “buy” rating to a “hold” rating in a report on Saturday, July 18th. Two investment analysts have rated the stock with a Strong Buy rating, three have given a Buy rating, three have given a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $95.78.

Mercury Systems Stock Performance

Shares of MRCY opened at $107.44 on Tuesday. The business’s fifty day simple moving average is $109.09 and its two-hundred day simple moving average is $94.26. The company has a current ratio of 3.19, a quick ratio of 2.15 and a debt-to-equity ratio of 0.40. Mercury Systems has a 12 month low of $51.86 and a 12 month high of $128.45. The company has a market cap of $6.45 billion, a price-to-earnings ratio of -447.67 and a beta of 0.95.

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

Insider Activity at Mercury Systems

In other Mercury Systems news, Director Orlando D. Carvalho sold 7,000 shares of the stock in a transaction dated Tuesday, May 12th. The stock was sold at an average price of $89.36, for a total value of $625,520.00. Following the transaction, the director owned 52,448 shares of the company’s stock, valued at approximately $4,686,753.28. This represents a 11.77% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Howard L. Lance sold 9,250 shares of the firm’s stock in a transaction dated Tuesday, May 26th. The stock was sold at an average price of $99.76, for a total value of $922,780.00. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 18,250 shares of company stock worth $1,733,220. 1.40% of the stock is owned by insiders.

Hedge Funds Weigh In On Mercury Systems

A number of institutional investors and hedge funds have recently made changes to their positions in MRCY. Invesco Ltd. raised its stake in shares of Mercury Systems by 161.7% in the third quarter. Invesco Ltd. now owns 1,527,443 shares of the technology company’s stock worth $118,224,000 after buying an additional 943,736 shares during the period. State Street Corp raised its position in shares of Mercury Systems by 12.1% during the 4th quarter. State Street Corp now owns 3,423,600 shares of the technology company’s stock valued at $249,957,000 after purchasing an additional 368,242 shares during the period. Segall Bryant & Hamill LLC boosted its holdings in Mercury Systems by 46.9% in the 1st quarter. Segall Bryant & Hamill LLC now owns 934,824 shares of the technology company’s stock worth $68,158,000 after buying an additional 298,298 shares during the period. Goldman Sachs Group Inc. increased its stake in Mercury Systems by 51.6% in the 1st quarter. Goldman Sachs Group Inc. now owns 855,441 shares of the technology company’s stock worth $36,861,000 after buying an additional 290,989 shares in the last quarter. Finally, Fifth Third Bancorp boosted its stake in shares of Mercury Systems by 22,232.9% in the first quarter. Fifth Third Bancorp now owns 267,101 shares of the technology company’s stock worth $19,474,000 after acquiring an additional 265,905 shares during the period. Hedge funds and other institutional investors own 95.99% of the company’s stock.

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.