JPMorgan Chase & Co. Issues Positive Forecast for Mercury Systems (NASDAQ:MRCY) Stock Price

Mercury Systems (NASDAQ:MRCY) had its target price lifted by research analysts at JPMorgan Chase & Co. from $48.00 to $56.00 in a report released on Monday,Benzinga reports. The firm currently has a “neutral” rating on the technology company’s stock. JPMorgan Chase & Co.‘s target price would suggest a potential upside of 5.70% from the stock’s current price.

Other equities analysts have also recently issued research reports about the stock. The Goldman Sachs Group increased their price objective on shares of Mercury Systems from $30.00 to $33.00 and gave the stock a “sell” rating in a research report on Monday, May 12th. Royal Bank of Canada upped their target price on shares of Mercury Systems from $48.00 to $50.00 and gave the stock a “sector perform” rating in a research note on Wednesday, May 7th. Finally, Truist Financial raised their price target on Mercury Systems from $56.00 to $60.00 and gave the company a “buy” rating in a research note on Monday, June 2nd. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Mercury Systems presently has an average rating of “Hold” and a consensus price target of $49.57.

Mercury Systems Trading Up 2.7%

MRCY opened at $52.98 on Monday. Mercury Systems has a 1-year low of $26.48 and a 1-year high of $55.80. The firm has a market capitalization of $3.17 billion, a price-to-earnings ratio of -33.96 and a beta of 0.68. The company has a debt-to-equity ratio of 0.41, a current ratio of 3.62 and a quick ratio of 2.36. The company’s 50 day simple moving average is $48.53 and its two-hundred day simple moving average is $44.77.

Mercury Systems (NASDAQ:MRCY) last issued its earnings results on Tuesday, May 6th. The technology company reported $0.06 EPS for the quarter, hitting analysts’ consensus estimates of $0.06. The company had revenue of $211.36 million for the quarter, compared to the consensus estimate of $204.25 million. Mercury Systems had a negative net margin of 10.23% and a negative return on equity of 2.03%. Mercury Systems’s quarterly revenue was up 1.5% compared to the same quarter last year. During the same period in the previous year, the firm earned ($0.26) earnings per share. Analysts expect that Mercury Systems will post -0.08 EPS for the current fiscal year.

Insider Activity at Mercury Systems

In other Mercury Systems news, EVP Steven Ratner sold 3,892 shares of the business’s stock in a transaction on Thursday, May 8th. The shares were sold at an average price of $47.70, for a total value of $185,648.40. Following the transaction, the executive vice president now directly owns 56,187 shares of the company’s stock, valued at approximately $2,680,119.90. The trade was a 6.48% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Jana Partners Management, Lp sold 88,152 shares of the firm’s stock in a transaction dated Thursday, May 8th. The shares were sold at an average price of $46.27, for a total transaction of $4,078,793.04. Following the completion of the sale, the director now owns 6,861,313 shares of the company’s stock, valued at approximately $317,472,952.51. The trade was a 1.27% decrease in their position. The disclosure for this sale can be found here. 1.60% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in MRCY. Sterling Capital Management LLC grew its stake in Mercury Systems by 762.6% in the 4th quarter. Sterling Capital Management LLC now owns 1,639 shares of the technology company’s stock valued at $69,000 after acquiring an additional 1,449 shares during the last quarter. Principal Financial Group Inc. lifted its holdings in shares of Mercury Systems by 3.2% during the 4th quarter. Principal Financial Group Inc. now owns 245,880 shares of the technology company’s stock worth $10,327,000 after acquiring an additional 7,512 shares during the period. Victory Capital Management Inc. boosted its holdings in shares of Mercury Systems by 16.7% in the 4th quarter. Victory Capital Management Inc. now owns 2,060,131 shares of the technology company’s stock valued at $86,526,000 after purchasing an additional 294,747 shares during the last quarter. Vanguard Group Inc. grew its position in Mercury Systems by 0.8% during the fourth quarter. Vanguard Group Inc. now owns 5,550,610 shares of the technology company’s stock valued at $233,126,000 after acquiring an additional 41,324 shares during the period. Finally, Millennium Management LLC grew its holdings in shares of Mercury Systems by 196.1% during the 4th quarter. Millennium Management LLC now owns 1,023,508 shares of the technology company’s stock worth $42,987,000 after purchasing an additional 677,894 shares during the period. 95.99% of the stock is currently owned by institutional investors and hedge funds.

About Mercury Systems

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.