Brokerages Set Mercury Systems Inc (MRCY) PT at $72.50

Mercury Systems Inc (NASDAQ:MRCY) has earned a consensus recommendation of “Buy” from the seven ratings firms that are currently covering the firm, MarketBeat.com reports. One research analyst has rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating on the company. The average 12 month price target among brokerages that have updated their coverage on the stock in the last year is $68.67.

Several analysts recently commented on MRCY shares. Zacks Investment Research lowered Mercury Systems from a “buy” rating to a “hold” rating in a research note on Friday, May 10th. Alembic Global Advisors upgraded Mercury Systems from a “neutral” rating to an “overweight” rating in a report on Wednesday, May 1st. Canaccord Genuity reiterated a “buy” rating and issued a $76.00 price objective (up previously from $64.00) on shares of Mercury Systems in a report on Friday, April 26th. BidaskClub upgraded Mercury Systems from a “buy” rating to a “strong-buy” rating in a report on Friday, March 22nd. Finally, ValuEngine upgraded Mercury Systems from a “hold” rating to a “buy” rating in a report on Wednesday, January 30th.

NASDAQ MRCY traded down $2.19 during trading on Thursday, hitting $68.77. The company’s stock had a trading volume of 6,439,992 shares, compared to its average volume of 428,544. The company has a quick ratio of 3.13, a current ratio of 4.53 and a debt-to-equity ratio of 0.34. The company has a market cap of $3.43 billion, a P/E ratio of 60.86, a P/E/G ratio of 4.06 and a beta of 1.10. Mercury Systems has a 52 week low of $35.57 and a 52 week high of $79.83.

Mercury Systems (NASDAQ:MRCY) last issued its quarterly earnings results on Tuesday, April 30th. The technology company reported $0.42 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.38 by $0.04. The company had revenue of $174.60 million for the quarter, compared to the consensus estimate of $165.61 million. Mercury Systems had a return on equity of 9.24% and a net margin of 6.99%. The company’s revenue for the quarter was up 50.1% on a year-over-year basis. During the same period in the previous year, the business posted $0.30 EPS. Sell-side analysts expect that Mercury Systems will post 1.52 earnings per share for the current fiscal year.

In other Mercury Systems news, COO Didier M. C. Thibaud sold 39,736 shares of the business’s stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of $60.22, for a total value of $2,392,901.92. Following the completion of the transaction, the chief operating officer now directly owns 298,940 shares of the company’s stock, valued at $18,002,166.80. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Mark Aslett sold 10,000 shares of the business’s stock in a transaction dated Wednesday, May 1st. The shares were sold at an average price of $74.03, for a total value of $740,300.00. Following the completion of the transaction, the insider now directly owns 357,440 shares of the company’s stock, valued at $26,461,283.20. The disclosure for this sale can be found here. Over the last three months, insiders sold 54,736 shares of company stock valued at $3,446,102. Insiders own 2.80% of the company’s stock.

A number of large investors have recently bought and sold shares of the business. BlackRock Inc. boosted its holdings in shares of Mercury Systems by 0.9% during the fourth quarter. BlackRock Inc. now owns 8,397,174 shares of the technology company’s stock worth $397,102,000 after purchasing an additional 77,601 shares during the period. Vanguard Group Inc. increased its position in shares of Mercury Systems by 2.5% during the third quarter. Vanguard Group Inc. now owns 4,640,926 shares of the technology company’s stock valued at $256,735,000 after acquiring an additional 114,329 shares in the last quarter. Conestoga Capital Advisors LLC increased its position in shares of Mercury Systems by 0.6% during the first quarter. Conestoga Capital Advisors LLC now owns 1,409,386 shares of the technology company’s stock valued at $90,313,000 after acquiring an additional 7,899 shares in the last quarter. Federated Investors Inc. PA increased its position in shares of Mercury Systems by 11.7% during the first quarter. Federated Investors Inc. PA now owns 1,015,224 shares of the technology company’s stock valued at $65,056,000 after acquiring an additional 106,624 shares in the last quarter. Finally, OppenheimerFunds Inc. increased its position in shares of Mercury Systems by 10.7% during the first quarter. OppenheimerFunds Inc. now owns 898,207 shares of the technology company’s stock valued at $57,557,000 after acquiring an additional 86,858 shares in the last quarter. 96.84% of the stock is owned by hedge funds and other institutional investors.

About Mercury Systems

Mercury Systems, Inc provides sensor and safety critical mission processing subsystems for various critical defense and intelligence programs in the United States. Its products and solutions are deployed in approximately 300 programs with 25 defense contractors. The company's principal programs include Aegis, Patriot, Surface Electronic Warfare Improvement Program, Gorgon Stare, Predator, F-35, Reaper, F-16 SABR, E2D Hawkeye, Paveway, Filthy Buzzard, PGK, ProVision, P1, and AIDEWS.

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