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

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

A number of other research analysts have also recently commented on the company. Truist Financial increased their price target on Mercury Systems from $109.00 to $120.00 and gave the company a “buy” rating in a research note on Thursday, August 20th. Canaccord Genuity Group upped their price target on Mercury Systems from $106.00 to $128.00 and gave the company a “buy” rating in a research report on Thursday, August 20th. Piper Sandler reissued an “overweight” rating and issued a $131.00 price target (up from $126.00) on shares of Mercury Systems in a research note on Wednesday, August 19th. Royal Bank Of Canada increased their price target on Mercury Systems from $105.00 to $120.00 and gave the company an “outperform” rating in a research note on Wednesday, August 19th. Finally, Jefferies Financial Group reiterated a “hold” rating and issued a $115.00 target price on shares of Mercury Systems in a report on Friday, July 10th. Two equities research analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating, four have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Mercury Systems presently has a consensus rating of “Moderate Buy” and a consensus price target of $110.55.

Mercury Systems Price Performance

MRCY stock opened at $87.25 on Monday. The company’s 50-day moving average price is $96.64 and its two-hundred day moving average price is $94.83. The firm has a market cap of $5.25 billion, a P/E ratio of -174.50 and a beta of 0.98. The company has a quick ratio of 1.85, a current ratio of 2.96 and a debt-to-equity ratio of 0.29. Mercury Systems has a 12 month low of $65.04 and a 12 month high of $128.45.

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

Insider Buying and Selling at Mercury Systems

In other Mercury Systems news, EVP Steven Ratner sold 4,000 shares of the business’s stock in a transaction that occurred on Thursday, September 3rd. The stock was sold at an average price of $84.51, for a total transaction of $338,040.00. Following the completion of the sale, the executive vice president directly owned 19,275 shares of the company’s stock, valued at approximately $1,628,930.25. The trade was a 17.19% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Stuart Kupinsky sold 1,000 shares of the stock in a transaction on Friday, August 21st. The shares were sold at an average price of $95.23, for a total value of $95,230.00. Following the completion of the sale, the executive vice president directly owned 56,352 shares of the company’s stock, valued at $5,366,400.96. The trade was a 1.74% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders sold 450,186 shares of company stock worth $41,770,650. 1.40% of the stock is owned by company insiders.

Institutional Investors Weigh In On Mercury Systems

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. BlackRock Inc. purchased a new stake in Mercury Systems in the second quarter worth approximately $1,146,342,000. Deutsche Bank AG purchased a new position in Mercury Systems in the 2nd quarter worth $17,454,000. Rice Hall James & Associates LLC purchased a new position in Mercury Systems in the 2nd quarter worth $4,866,000. American Capital Management Inc. bought a new stake in Mercury Systems in the second quarter worth $59,460,000. Finally, Louisiana State Employees Retirement System bought a new stake in Mercury Systems in the first quarter worth $1,706,000. Hedge funds and other institutional investors own 95.99% of the company’s stock.

About Mercury Systems

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.