Brokerages Set Mercury Systems, Inc. (NASDAQ:MRCY) PT at $29.88

Shares of Mercury Systems, Inc. (NASDAQ:MRCY) have earned a consensus recommendation of “Reduce” from the seven analysts that are covering the company, MarketBeat reports. Three equities research analysts have rated the stock with a sell recommendation and four have given a hold recommendation to the company. The average twelve-month target price among brokers that have covered the stock in the last year is $29.88.

Several brokerages recently issued reports on MRCY. Jefferies Financial Group lowered shares of Mercury Systems from a “hold” rating to an “underperform” rating and cut their price objective for the company from $35.00 to $30.00 in a report on Wednesday, January 3rd. The Goldman Sachs Group cut their price target on shares of Mercury Systems from $24.00 to $21.00 and set a “sell” rating on the stock in a report on Thursday, February 8th. Royal Bank of Canada cut their price target on shares of Mercury Systems from $35.00 to $30.00 and set a “sector perform” rating on the stock in a report on Wednesday, February 7th. Finally, Truist Financial lowered shares of Mercury Systems from a “buy” rating to a “hold” rating and cut their price target for the stock from $48.00 to $28.00 in a report on Wednesday, February 7th.

Mercury Systems Stock Performance

Shares of MRCY stock opened at $27.98 on Friday. The firm has a market cap of $1.66 billion, a price-to-earnings ratio of -18.78 and a beta of 0.70. The company’s 50 day moving average is $28.98 and its 200 day moving average is $32.60. The company has a quick ratio of 2.79, a current ratio of 4.36 and a debt-to-equity ratio of 0.41. Mercury Systems has a 52-week low of $25.31 and a 52-week high of $48.65.

Mercury Systems (NASDAQ:MRCY) last issued its quarterly earnings data on Tuesday, February 6th. The technology company reported ($0.58) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.10) by ($0.48). The business had revenue of $197.46 million for the quarter, compared to analysts’ expectations of $215.41 million. Mercury Systems had a negative net margin of 9.54% and a negative return on equity of 2.62%. On average, sell-side analysts anticipate that Mercury Systems will post -1.4 EPS for the current fiscal year.

Insider Activity

In other news, EVP Stephanie Georges sold 1,409 shares of the business’s stock in a transaction on Friday, February 16th. The shares were sold at an average price of $29.57, for a total transaction of $41,664.13. Following the sale, the executive vice president now directly owns 38,319 shares of the company’s stock, valued at $1,133,092.83. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, CEO William L. Ballhaus acquired 3,653 shares of the company’s stock in a transaction dated Friday, February 9th. The shares were purchased at an average cost of $28.22 per share, with a total value of $103,087.66. Following the completion of the acquisition, the chief executive officer now directly owns 3,653 shares of the company’s stock, valued at $103,087.66. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Stephanie Georges sold 1,409 shares of the business’s stock in a transaction on Friday, February 16th. The shares were sold at an average price of $29.57, for a total transaction of $41,664.13. Following the sale, the executive vice president now directly owns 38,319 shares in the company, valued at $1,133,092.83. The disclosure for this sale can be found here. Over the last ninety days, insiders have purchased 14,133 shares of company stock valued at $398,311 and have sold 3,510 shares valued at $103,685. Corporate insiders own 1.80% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in MRCY. JPMorgan Chase & Co. lifted its position in Mercury Systems by 10.7% during the first quarter. JPMorgan Chase & Co. now owns 85,186 shares of the technology company’s stock valued at $5,490,000 after purchasing an additional 8,264 shares during the period. US Bancorp DE lifted its position in Mercury Systems by 32.5% during the first quarter. US Bancorp DE now owns 7,765 shares of the technology company’s stock valued at $500,000 after purchasing an additional 1,904 shares during the period. Bank of Montreal Can lifted its position in Mercury Systems by 79.7% during the first quarter. Bank of Montreal Can now owns 13,937 shares of the technology company’s stock valued at $919,000 after purchasing an additional 6,182 shares during the period. MetLife Investment Management LLC lifted its position in Mercury Systems by 33.6% during the first quarter. MetLife Investment Management LLC now owns 36,688 shares of the technology company’s stock valued at $2,365,000 after purchasing an additional 9,237 shares during the period. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its position in Mercury Systems by 14.9% during the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 23,343 shares of the technology company’s stock valued at $1,504,000 after purchasing an additional 3,032 shares during the period. 95.99% of the stock is currently owned by institutional investors and hedge funds.

Mercury Systems Company Profile

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.