Mercury Systems (NASDAQ:MRCY) Upgraded to “Buy” at Truist Financial

Mercury Systems (NASDAQ:MRCY) was upgraded by investment analysts at Truist Financial from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Thursday,Benzinga reports. The brokerage currently has a $56.00 price target on the technology company’s stock, up from their prior price target of $49.00. Truist Financial’s price objective would indicate a potential upside of 33.02% from the company’s previous close.

Several other research analysts also recently commented on the company. Robert W. Baird raised Mercury Systems from a “neutral” rating to an “outperform” rating and lifted their price target for the stock from $37.00 to $58.00 in a research report on Wednesday, February 5th. The Goldman Sachs Group increased their price target on Mercury Systems from $25.00 to $28.00 and gave the stock a “sell” rating in a research report on Thursday, January 16th. StockNews.com raised Mercury Systems from a “sell” rating to a “hold” rating in a report on Thursday, December 5th. Finally, Baird R W raised shares of Mercury Systems from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, February 5th. One analyst has rated the stock with a sell rating, four have assigned a hold rating, three have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Mercury Systems currently has a consensus rating of “Hold” and a consensus target price of $43.86.

Mercury Systems Price Performance

Shares of NASDAQ:MRCY opened at $42.10 on Thursday. The company’s fifty day moving average is $43.40 and its two-hundred day moving average is $39.82. The company has a quick ratio of 2.36, a current ratio of 3.62 and a debt-to-equity ratio of 0.41. The company has a market cap of $2.51 billion, a P/E ratio of -26.99 and a beta of 0.80. Mercury Systems has a 12-month low of $26.48 and a 12-month high of $52.25.

Mercury Systems (NASDAQ:MRCY) last posted its earnings results on Tuesday, February 4th. The technology company reported ($0.08) EPS for the quarter, missing the consensus estimate of ($0.04) by ($0.04). Mercury Systems had a negative return on equity of 2.03% and a negative net margin of 10.23%. Equities analysts expect that Mercury Systems will post -0.08 earnings per share for the current fiscal year.

Insider Activity

In other news, COO Charles Roger Iv Wells sold 2,342 shares of Mercury Systems stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $44.12, for a total transaction of $103,329.04. Following the sale, the chief operating officer now directly owns 95,928 shares of the company’s stock, valued at approximately $4,232,343.36. This trade represents a 2.38 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Stuart Kupinsky sold 2,377 shares of the stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $44.12, for a total value of $104,873.24. Following the completion of the sale, the executive vice president now owns 62,834 shares of the company’s stock, valued at $2,772,236.08. The trade was a 3.65 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 5,314 shares of company stock worth $234,454. 1.60% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Centaurus Financial Inc. bought a new position in shares of Mercury Systems during the fourth quarter valued at about $212,000. Neo Ivy Capital Management purchased a new position in shares of Mercury Systems in the fourth quarter worth about $33,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in Mercury Systems by 11.2% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 140,701 shares of the technology company’s stock valued at $5,909,000 after buying an additional 14,129 shares in the last quarter. Vident Advisory LLC increased its holdings in Mercury Systems by 29.2% during the 4th quarter. Vident Advisory LLC now owns 35,749 shares of the technology company’s stock worth $1,501,000 after acquiring an additional 8,088 shares during the period. Finally, Rafferty Asset Management LLC raised its holdings in shares of Mercury Systems by 5.1% in the 4th quarter. Rafferty Asset Management LLC now owns 12,977 shares of the technology company’s stock valued at $545,000 after acquiring an additional 632 shares in the last quarter. Institutional investors and hedge funds own 95.99% of the company’s stock.

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.