Mercury Systems (NASDAQ:MRCY) Price Target Cut to $30.00 by Analysts at Royal Bank of Canada

Mercury Systems (NASDAQ:MRCYFree Report) had its price target decreased by Royal Bank of Canada from $35.00 to $30.00 in a research report sent to investors on Wednesday, Benzinga reports. Royal Bank of Canada currently has a sector perform rating on the technology company’s stock.

A number of other equities research analysts have also issued reports on the company. Truist Financial lowered Mercury Systems from a buy rating to a hold rating and dropped their target price for the company from $48.00 to $28.00 in a research report on Wednesday. The Goldman Sachs Group reaffirmed a sell rating and set a $24.00 price target (down previously from $37.00) on shares of Mercury Systems in a research report on Wednesday, January 10th. Bank of America reissued an underperform rating and set a $30.00 target price on shares of Mercury Systems in a report on Wednesday, November 29th. Finally, Jefferies Financial Group lowered Mercury Systems from a hold rating to an underperform rating and decreased their target price for the stock from $35.00 to $30.00 in a report on Wednesday, January 3rd. Four analysts have rated the stock with a sell rating and four have assigned a hold rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of Hold and a consensus price target of $30.25.

View Our Latest Stock Analysis on Mercury Systems

Mercury Systems Price Performance

Shares of MRCY stock opened at $26.80 on Wednesday. The stock has a 50-day moving average price of $33.85 and a 200 day moving average price of $35.71. The company has a current ratio of 4.65, a quick ratio of 2.88 and a debt-to-equity ratio of 0.37. Mercury Systems has a 12 month low of $25.31 and a 12 month high of $55.08.

Mercury Systems (NASDAQ:MRCYGet Free Report) last issued its earnings results on Tuesday, November 7th. The technology company reported ($0.36) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.32). Mercury Systems had a negative return on equity of 2.60% and a negative net margin of 9.54%. The company had revenue of $180.99 million for the quarter, compared to the consensus estimate of $218.16 million. As a group, analysts predict that Mercury Systems will post 0.48 EPS for the current year.

Insiders Place Their Bets

In other news, Director Jana Partners Management, Lp acquired 215,550 shares of Mercury Systems stock in a transaction on Thursday, November 16th. The stock was purchased at an average price of $33.28 per share, with a total value of $7,173,504.00. Following the completion of the purchase, the director now owns 4,926,936 shares of the company’s stock, valued at approximately $163,968,430.08. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. Over the last three months, insiders acquired 343,948 shares of company stock worth $11,497,640. 1.80% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Oppenheimer & Co. Inc. boosted its position in shares of Mercury Systems by 4.6% during the second quarter. Oppenheimer & Co. Inc. now owns 41,417 shares of the technology company’s stock valued at $1,433,000 after buying an additional 1,829 shares during the last quarter. WCM Investment Management LLC lifted its holdings in Mercury Systems by 53.9% during the third quarter. WCM Investment Management LLC now owns 435,821 shares of the technology company’s stock worth $16,134,000 after acquiring an additional 152,712 shares during the period. Camelot Portfolios LLC lifted its holdings in Mercury Systems by 411.6% during the third quarter. Camelot Portfolios LLC now owns 35,472 shares of the technology company’s stock worth $1,316,000 after acquiring an additional 28,538 shares during the period. Dimensional Fund Advisors LP lifted its holdings in Mercury Systems by 8.1% during the second quarter. Dimensional Fund Advisors LP now owns 1,568,156 shares of the technology company’s stock worth $54,242,000 after acquiring an additional 116,903 shares during the period. Finally, Jana Partners LLC lifted its holdings in Mercury Systems by 120.5% during the second quarter. Jana Partners LLC now owns 4,394,641 shares of the technology company’s stock worth $152,011,000 after acquiring an additional 2,401,242 shares during the period. Hedge funds and other institutional investors own 95.99% of the company’s stock.

Mercury Systems Company Profile

(Get Free Report)

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.

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