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

Shares of Mercury Systems, Inc. (NASDAQ:MRCY) have received a consensus recommendation of “Reduce” from the seven research firms that are presently covering the firm, MarketBeat.com reports. Three equities research analysts have rated the stock with a sell recommendation and four have issued a hold recommendation on the company. The average 12 month price target among brokers that have covered the stock in the last year is $29.88.

A number of brokerages recently commented on MRCY. Jefferies Financial Group downgraded Mercury Systems from a “hold” rating to an “underperform” rating and decreased their price target for the company from $35.00 to $30.00 in a research 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 reduced their price target on shares of Mercury Systems from $35.00 to $30.00 and set a “sector perform” rating for the company in a research report on Wednesday, February 7th. Finally, Truist Financial lowered shares of Mercury Systems from a “buy” rating to a “hold” rating and lowered their price objective for the stock from $48.00 to $28.00 in a research report on Wednesday, February 7th.

Mercury Systems Trading Up 1.1 %

MRCY stock opened at $28.79 on Friday. The company has a current ratio of 4.36, a quick ratio of 2.79 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 $48.00. The business has a 50-day simple moving average of $28.80 and a two-hundred day simple moving average of $32.42.

Mercury Systems (NASDAQ:MRCY) last released its quarterly earnings results on Tuesday, February 6th. The technology company reported ($0.58) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.10) by ($0.48). Mercury Systems had a negative net margin of 9.54% and a negative return on equity of 2.62%. The company had revenue of $197.46 million for the quarter, compared to analyst estimates of $215.41 million. Equities analysts forecast that Mercury Systems will post -1.4 EPS for the current year.

Insider Activity at Mercury Systems

In other Mercury Systems news, Director Barry R. Nearhos acquired 3,500 shares of Mercury Systems stock in a transaction that occurred on Friday, February 9th. The stock was acquired at an average cost of $27.15 per share, for a total transaction of $95,025.00. Following the purchase, the director now owns 3,500 shares of the company’s stock, valued at $95,025. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Mercury Systems news, COO Charles Roger Iv Wells sold 1,696 shares of Mercury Systems stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $29.57, for a total transaction of $50,150.72. Following the completion of the transaction, the chief operating officer now owns 105,427 shares of the company’s stock, valued at approximately $3,117,476.39. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Barry R. Nearhos purchased 3,500 shares of the stock in a transaction dated Friday, February 9th. The stock was purchased at an average cost of $27.15 per share, for a total transaction of $95,025.00. Following the completion of the acquisition, the director now owns 3,500 shares of the company’s stock, valued at approximately $95,025. The disclosure for this purchase can be found here. In the last ninety days, insiders have acquired 14,133 shares of company stock worth $398,311 and have sold 3,510 shares worth $103,685. 1.80% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Mercury Systems

Several hedge funds have recently bought and sold shares of MRCY. Transatlantique Private Wealth LLC increased its holdings in Mercury Systems by 2.4% during the 3rd quarter. Transatlantique Private Wealth LLC now owns 14,032 shares of the technology company’s stock worth $513,000 after acquiring an additional 328 shares during the period. Daiwa Securities Group Inc. increased its holdings in Mercury Systems by 1.3% during the 4th quarter. Daiwa Securities Group Inc. now owns 27,911 shares of the technology company’s stock worth $1,021,000 after acquiring an additional 357 shares during the period. VisionPoint Advisory Group LLC increased its holdings in Mercury Systems by 110.9% during the 3rd quarter. VisionPoint Advisory Group LLC now owns 715 shares of the technology company’s stock worth $27,000 after acquiring an additional 376 shares during the period. Yousif Capital Management LLC increased its holdings in Mercury Systems by 1.9% during the 4th quarter. Yousif Capital Management LLC now owns 25,887 shares of the technology company’s stock worth $947,000 after acquiring an additional 475 shares during the period. Finally, Raymond James & Associates increased its holdings in Mercury Systems by 0.6% during the 3rd quarter. Raymond James & Associates now owns 115,989 shares of the technology company’s stock worth $4,302,000 after acquiring an additional 657 shares during the period. Hedge funds and other institutional investors 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.