Mercury Systems (NASDAQ:MRCY) Shares Gap Down After Analyst Downgrade

Mercury Systems, Inc. (NASDAQ:MRCYGet Rating)’s share price gapped down before the market opened on Wednesday after Robert W. Baird lowered their price target on the stock from $72.00 to $58.00. The stock had previously closed at $57.48, but opened at $55.63. Mercury Systems shares last traded at $45.00, with a volume of 10,056 shares trading hands.

MRCY has been the subject of a number of other reports. Royal Bank of Canada raised Mercury Systems from a “sector perform” rating to an “outperform” rating and upped their price target for the company from $60.00 to $72.00 in a research note on Wednesday, May 18th. Truist Financial raised Mercury Systems from a “hold” rating to a “buy” rating and upped their price target for the company from $60.00 to $71.00 in a research note on Friday, May 13th. Finally, Jefferies Financial Group cut Mercury Systems from a “buy” rating to a “hold” rating and upped their price target for the company from $62.00 to $65.00 in a research note on Friday, April 8th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, Mercury Systems presently has a consensus rating of “Hold” and an average price target of $63.75.

Institutional Trading of Mercury Systems

A number of large investors have recently bought and sold shares of MRCY. Starboard Value LP bought a new stake in Mercury Systems during the 1st quarter worth approximately $230,973,000. Bank of America Corp DE increased its stake in Mercury Systems by 369.4% during the 4th quarter. Bank of America Corp DE now owns 3,024,368 shares of the technology company’s stock worth $166,522,000 after purchasing an additional 2,380,086 shares in the last quarter. William Blair Investment Management LLC increased its stake in Mercury Systems by 38.9% during the 1st quarter. William Blair Investment Management LLC now owns 4,606,998 shares of the technology company’s stock worth $296,921,000 after purchasing an additional 1,289,176 shares in the last quarter. Victory Capital Management Inc. increased its stake in Mercury Systems by 8,120.9% during the 2nd quarter. Victory Capital Management Inc. now owns 1,059,178 shares of the technology company’s stock worth $68,137,000 after purchasing an additional 1,046,294 shares in the last quarter. Finally, Goldman Sachs Group Inc. increased its stake in Mercury Systems by 104.5% during the 4th quarter. Goldman Sachs Group Inc. now owns 2,028,989 shares of the technology company’s stock worth $111,716,000 after purchasing an additional 1,036,596 shares in the last quarter. 92.15% of the stock is owned by institutional investors.

Mercury Systems Trading Down 13.3 %

The business has a 50 day moving average of $60.43 and a 200-day moving average of $59.85. The company has a current ratio of 4.13, a quick ratio of 2.71 and a debt-to-equity ratio of 0.30. The firm has a market capitalization of $2.87 billion, a P/E ratio of 237.20, a PEG ratio of 16.05 and a beta of 0.79.

Mercury Systems (NASDAQ:MRCYGet Rating) last issued its quarterly earnings results on Tuesday, May 3rd. The technology company reported $0.45 earnings per share for the quarter, hitting the consensus estimate of $0.45. The company had revenue of $233.75 million during the quarter, compared to analysts’ expectations of $249.34 million. Mercury Systems had a net margin of 1.29% and a return on equity of 6.12%. The business’s quarterly revenue was down 9.0% on a year-over-year basis. During the same period last year, the business earned $0.53 EPS. Analysts anticipate that Mercury Systems, Inc. will post 1.88 EPS for the current fiscal year.

About Mercury Systems

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Mercury Systems, Inc, a technology company, engages in the manufacture and sale of components, products, modules, and subsystems for aerospace and defense industries in the United States, Europe, and the Asia Pacific. The company's products and solutions are deployed in approximately 300 programs with 25 defense contractors and commercial aviation customers.

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