Mercury Systems (NASDAQ:MRCY) PT Lowered to $26.00

Mercury Systems (NASDAQ:MRCY) had its price target decreased by equities researchers at Truist Financial from $28.00 to $26.00 in a report released on Wednesday, Benzinga reports. The brokerage currently has a “hold” rating on the technology company’s stock. Truist Financial’s price objective points to a potential downside of 8.00% from the company’s previous close.

MRCY has been the subject of a number of other research reports. The Goldman Sachs Group dropped their price objective on Mercury Systems from $24.00 to $21.00 and set a “sell” rating for the company in a research note on Thursday, February 8th. Royal Bank of Canada dropped their price target on Mercury Systems from $35.00 to $30.00 and set a “sector perform” rating for the company in a research note on Wednesday, February 7th. Four analysts have rated the stock with a sell rating and four have assigned a hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $29.63.

Mercury Systems Stock Performance

MRCY traded down $0.57 during midday trading on Wednesday, reaching $28.26. The company had a trading volume of 62,511 shares, compared to its average volume of 531,430. The company has a quick ratio of 2.79, a current ratio of 4.36 and a debt-to-equity ratio of 0.41. The business has a 50-day moving average of $28.80 and a two-hundred day moving average of $31.75. The company has a market cap of $1.68 billion, a P/E ratio of -19.35 and a beta of 0.68. Mercury Systems has a 1 year low of $25.31 and a 1 year high of $43.84.

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

Insiders Place Their Bets

In other news, EVP Stephanie Georges sold 1,409 shares of the firm’s stock in a transaction on Friday, February 16th. The stock was sold at an average price of $29.57, for a total value of $41,664.13. Following the completion of the sale, the executive vice president now owns 38,319 shares of the company’s stock, valued at approximately $1,133,092.83. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CEO William L. Ballhaus acquired 3,413 shares of the business’s stock in a transaction on Monday, February 12th. The stock was bought at an average cost of $29.30 per share, for a total transaction of $100,000.90. Following the purchase, the chief executive officer now owns 7,066 shares in the company, valued at $207,033.80. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Stephanie Georges sold 1,409 shares of the business’s stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $29.57, for a total value of $41,664.13. Following the transaction, the executive vice president now owns 38,319 shares in the company, valued at $1,133,092.83. The disclosure for this sale can be found here. Insiders have sold 3,510 shares of company stock worth $103,685 in the last ninety days. 1.80% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. State Board of Administration of Florida Retirement System lifted its stake in shares of Mercury Systems by 11.3% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 57,212 shares of the technology company’s stock valued at $1,688,000 after purchasing an additional 5,799 shares during the last quarter. Sei Investments Co. raised its stake in shares of Mercury Systems by 27.0% in the 1st quarter. Sei Investments Co. now owns 216,956 shares of the technology company’s stock valued at $6,400,000 after acquiring an additional 46,132 shares during the period. Illinois Municipal Retirement Fund lifted its holdings in shares of Mercury Systems by 1.5% in the 1st quarter. Illinois Municipal Retirement Fund now owns 29,782 shares of the technology company’s stock worth $879,000 after acquiring an additional 450 shares during the last quarter. Duality Advisers LP boosted its position in shares of Mercury Systems by 38.2% during the 1st quarter. Duality Advisers LP now owns 29,311 shares of the technology company’s stock worth $865,000 after purchasing an additional 8,106 shares during the period. Finally, Staley Capital Advisers Inc. increased its holdings in Mercury Systems by 37.6% in the 1st quarter. Staley Capital Advisers Inc. now owns 449,360 shares of the technology company’s stock valued at $13,256,000 after purchasing an additional 122,829 shares during the last quarter. 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.