JPMorgan Chase & Co. Boosts Mercury Systems (NASDAQ:MRCY) Price Target to $26.00

Mercury Systems (NASDAQ:MRCY) had its price objective lifted by JPMorgan Chase & Co. from $24.00 to $26.00 in a research note issued to investors on Friday, Benzinga reports. They currently have a neutral rating on the technology company’s stock.

Several other equities research analysts have also issued reports on the stock. Royal Bank of Canada lowered 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. The Goldman Sachs Group lowered 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. Finally, Truist Financial lowered their price target on shares of Mercury Systems from $28.00 to $26.00 and set a hold rating on the stock in a report on Wednesday, May 8th. Four equities research analysts have rated the stock with a sell rating and four have assigned a hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of Hold and a consensus price target of $28.50.

Mercury Systems Trading Down 1.0 %

Shares of MRCY stock opened at $31.18 on Friday. Mercury Systems has a 1 year low of $25.31 and a 1 year high of $43.84. The firm’s fifty day simple moving average is $28.97 and its 200 day simple moving average is $31.28. The firm has a market capitalization of $1.85 billion, a P/E ratio of -13.27 and a beta of 0.68. The company has a current ratio of 4.58, a quick ratio of 2.93 and a debt-to-equity ratio of 0.42.

Mercury Systems (NASDAQ:MRCY) last announced its earnings results on Tuesday, May 7th. The technology company reported ($0.42) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.31) by ($0.11). Mercury Systems had a negative return on equity of 5.07% and a negative net margin of 16.08%. As a group, sell-side analysts predict that Mercury Systems will post -1.36 EPS for the current year.

Institutional Investors Weigh In On Mercury Systems

Several institutional investors and hedge funds have recently made changes to their positions in the company. Virtu Financial LLC acquired a new position in Mercury Systems during the 1st quarter worth about $220,000. Jane Street Group LLC lifted its position in Mercury Systems by 102.6% during the 1st quarter. Jane Street Group LLC now owns 257,514 shares of the technology company’s stock worth $7,597,000 after buying an additional 130,396 shares in the last quarter. Redwood Investment Management LLC lifted its position in Mercury Systems by 26.5% during the 1st quarter. Redwood Investment Management LLC now owns 111,056 shares of the technology company’s stock worth $3,276,000 after buying an additional 23,274 shares in the last quarter. Sugar Maple Asset Management LLC acquired a new position in Mercury Systems during the 1st quarter worth about $354,000. Finally, Public Employees Retirement System of Ohio lifted its position in Mercury Systems by 9.8% during the 1st quarter. Public Employees Retirement System of Ohio now owns 83,164 shares of the technology company’s stock worth $2,453,000 after buying an additional 7,421 shares in the last quarter. Institutional investors and hedge funds own 95.99% of the company’s stock.

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.