Canaccord Genuity Group Begins Coverage on Mercury Systems (NASDAQ:MRCY)

Canaccord Genuity Group started coverage on shares of Mercury Systems (NASDAQ:MRCY) in a research note released on Thursday, MarketBeat reports. The brokerage issued a buy rating and a $88.00 price objective on the technology company’s stock.

Other equities research analysts have also recently issued research reports about the stock. JPMorgan Chase & Co. lifted their price target on shares of Mercury Systems from $56.00 to $68.00 and gave the stock a “neutral” rating in a research report on Tuesday, August 12th. Robert W. Baird raised their price objective on shares of Mercury Systems from $58.00 to $70.00 and gave the company an “outperform” rating in a research note on Tuesday, August 12th. Wall Street Zen upgraded shares of Mercury Systems from a “hold” rating to a “buy” rating in a research report on Saturday, September 13th. Royal Bank Of Canada raised Mercury Systems from a “hold” rating to a “moderate buy” rating in a research note on Wednesday. Finally, The Goldman Sachs Group lifted their price objective on Mercury Systems from $35.00 to $39.00 and gave the stock a “sell” rating in a research note on Wednesday, August 13th. Two research analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating, three have given a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $70.67.

Mercury Systems Stock Up 1.1%

NASDAQ:MRCY opened at $83.50 on Thursday. The company has a market cap of $5.01 billion, a price-to-earnings ratio of -126.51, a P/E/G ratio of 3.47 and a beta of 0.82. The company has a debt-to-equity ratio of 0.40, a quick ratio of 2.41 and a current ratio of 3.52. The stock’s fifty day moving average price is $67.30 and its two-hundred day moving average price is $55.27. Mercury Systems has a 52-week low of $32.32 and a 52-week high of $85.26.

Mercury Systems (NASDAQ:MRCY) last released its earnings results on Monday, August 11th. The technology company reported $0.47 earnings per share for the quarter, topping analysts’ consensus estimates of $0.21 by $0.26. Mercury Systems had a positive return on equity of 0.58% and a negative net margin of 4.16%.The company had revenue of $273.11 million during the quarter, compared to the consensus estimate of $244.56 million. During the same quarter in the previous year, the company posted $0.23 earnings per share. The firm’s quarterly revenue was up 9.9% on a year-over-year basis. On average, analysts anticipate that Mercury Systems will post -0.08 EPS for the current year.

Insider Transactions at Mercury Systems

In other news, EVP Stuart Kupinsky sold 1,220 shares of the business’s stock in a transaction dated Tuesday, August 19th. The shares were sold at an average price of $64.46, for a total transaction of $78,641.20. Following the transaction, the executive vice president directly owned 70,297 shares in the company, valued at $4,531,344.62. The trade was a 1.71% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Jana Partners Management, Lp sold 797,000 shares of the company’s stock in a transaction dated Wednesday, August 13th. The shares were sold at an average price of $65.42, for a total transaction of $52,139,740.00. Following the completion of the sale, the director directly owned 5,964,313 shares in the company, valued at approximately $390,185,356.46. The trade was a 11.79% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 848,980 shares of company stock valued at $55,529,247. 1.40% of the stock is owned by company insiders.

Hedge Funds Weigh In On Mercury Systems

Large investors have recently modified their holdings of the stock. Wealth Enhancement Advisory Services LLC bought a new stake in shares of Mercury Systems during the 4th quarter worth about $241,000. GAMMA Investing LLC lifted its position in Mercury Systems by 6,776.2% during the first quarter. GAMMA Investing LLC now owns 45,589 shares of the technology company’s stock worth $1,964,000 after acquiring an additional 44,926 shares during the last quarter. SG Americas Securities LLC bought a new stake in shares of Mercury Systems during the first quarter worth approximately $1,056,000. Fifth Third Bancorp grew its position in shares of Mercury Systems by 53.8% in the first quarter. Fifth Third Bancorp now owns 1,290 shares of the technology company’s stock valued at $56,000 after purchasing an additional 451 shares during the last quarter. Finally, Greenwood Capital Associates LLC bought a new position in Mercury Systems during the 1st quarter worth $434,000. 95.99% of the stock is owned by institutional investors.

Mercury Systems Company Profile

Mercury Systems, Inc, a technology company, manufactures and sells components, products, modules, and subsystems for aerospace and defense industries in the United States, Europe, and the Asia Pacific. Its products and solutions are deployed in approximately 300 programs with 25 defense contractors and commercial aviation customers.