Mercury Systems (NASDAQ:MRCY) Rating Increased to Strong-Buy at Guggenheim

Mercury Systems (NASDAQ:MRCY) was upgraded by equities researchers at Guggenheim to a “strong-buy” rating in a report released on Monday, Zacks reports.

A number of other analysts have also commented on the company. Zacks Research lowered Mercury Systems from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, August 4th. Canaccord Genuity Group upped their price objective on shares of Mercury Systems from $106.00 to $128.00 and gave the stock a “buy” rating in a report on Thursday, August 20th. Deutsche Bank Aktiengesellschaft lowered shares of Mercury Systems to a “hold” rating in a report on Wednesday, August 12th. Truist Financial lifted their target price on shares of Mercury Systems from $109.00 to $120.00 and gave the company a “buy” rating in a research note on Thursday, August 20th. Finally, Royal Bank Of Canada boosted their price target on shares of Mercury Systems from $105.00 to $120.00 and gave the company an “outperform” rating in a research report on Wednesday, August 19th. Two research analysts have rated the stock with a Strong Buy rating, five have given a Buy rating, four have issued a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, Mercury Systems has a consensus rating of “Moderate Buy” and an average price target of $110.55.

Mercury Systems Stock Performance

Mercury Systems stock opened at $87.25 on Monday. The company has a current ratio of 2.96, a quick ratio of 1.85 and a debt-to-equity ratio of 0.29. The firm has a market cap of $5.25 billion, a P/E ratio of -174.50 and a beta of 0.98. Mercury Systems has a 1-year low of $65.04 and a 1-year high of $128.45. The firm has a 50-day moving average of $96.64 and a 200-day moving average of $94.83.

Mercury Systems (NASDAQ:MRCY) last released its quarterly earnings results on Tuesday, August 18th. The technology company reported $0.37 EPS for the quarter, missing analysts’ consensus estimates of $0.38 by ($0.01). Mercury Systems had a negative net margin of 3.02% and a positive return on equity of 1.29%. The business had revenue of $289.78 million for the quarter, compared to the consensus estimate of $266.09 million. During the same period in the previous year, the company earned $0.47 EPS. The company’s revenue for the quarter was up 6.1% on a year-over-year basis. Sell-side analysts expect that Mercury Systems will post 0.91 EPS for the current year.

Insiders Place Their Bets

In other news, CEO William L. Ballhaus sold 111,076 shares of the business’s stock in a transaction on Tuesday, August 25th. The shares were sold at an average price of $87.12, for a total transaction of $9,676,941.12. Following the sale, the chief executive officer owned 342,436 shares in the company, valued at approximately $29,833,024.32. The trade was a 24.49% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP David E. Farnsworth sold 8,155 shares of the stock in a transaction dated Wednesday, August 19th. The stock was sold at an average price of $100.31, for a total transaction of $818,028.05. Following the completion of the transaction, the executive vice president owned 124,579 shares of the company’s stock, valued at approximately $12,496,519.49. The trade was a 6.14% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last quarter, insiders sold 450,186 shares of company stock valued at $41,770,650. 1.40% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Mercury Systems

Several large investors have recently made changes to their positions in MRCY. GAMMA Investing LLC lifted its stake in Mercury Systems by 8.5% in the second quarter. GAMMA Investing LLC now owns 1,984 shares of the technology company’s stock worth $243,000 after acquiring an additional 155 shares during the period. Rockefeller Capital Management L.P. grew its holdings 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 acquiring an additional 228 shares in the last quarter. ProShare Advisors LLC increased its position in Mercury Systems by 3.2% during the 4th quarter. ProShare Advisors LLC now owns 10,134 shares of the technology company’s stock valued at $740,000 after purchasing an additional 312 shares during the period. PNC Financial Services Group Inc. increased its position in Mercury Systems by 4.7% during the 1st quarter. PNC Financial Services Group Inc. now owns 7,045 shares of the technology company’s stock valued at $514,000 after purchasing an additional 319 shares during the period. Finally, IFP Advisors Inc raised its holdings in shares of Mercury Systems by 250.8% in the 2nd quarter. IFP Advisors Inc now owns 463 shares of the technology company’s stock valued at $57,000 after purchasing an additional 331 shares in the last quarter. 95.99% of the stock is currently owned by hedge funds and other institutional investors.

Mercury Systems Company Profile

Mercury Systems, Inc is a technology company that develops and manufactures secure, high-performance computing and sensor-processing solutions for the aerospace and defense industries. Its products are designed for use in mission-critical applications where ruggedness, rapid data processing, cybersecurity and long operational life are essential.

The company’s offerings include embedded computing systems, digital signal processing technologies, radio-frequency and microwave components, avionics systems, sensor-processing solutions, electronic warfare technology and secure communications products.