Wall Street Zen Downgrades Mercury Systems (NASDAQ:MRCY) to Hold

Mercury Systems (NASDAQ:MRCY) was downgraded by equities research analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a research report issued on Saturday.

Several other analysts also recently weighed in on MRCY. Canaccord Genuity Group initiated coverage on Mercury Systems in a research report on Thursday, October 2nd. They set a “buy” rating and a $88.00 target price for the company. Weiss Ratings reiterated a “sell (d-)” rating on shares of Mercury Systems in a research report on Wednesday, October 8th. Truist Financial lifted their target price on Mercury Systems from $60.00 to $71.00 and gave the stock a “buy” rating in a research report on Tuesday, August 12th. The Goldman Sachs Group lifted their target price on Mercury Systems from $35.00 to $39.00 and gave the stock a “sell” rating in a research report on Wednesday, August 13th. Finally, Zacks Research downgraded Mercury Systems from a “strong-buy” rating to a “hold” rating in a research report on Friday, September 19th. Two research analysts have rated the stock with a Strong Buy rating, four have given a Buy rating, three have given a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $70.67.

Mercury Systems Stock Down 9.1%

Shares of MRCY opened at $73.58 on Friday. The company has a market cap of $4.42 billion, a PE ratio of -111.48, a P/E/G ratio of 3.06 and a beta of 0.82. The business has a fifty day moving average of $70.17 and a 200 day moving average of $56.58. Mercury Systems has a 52-week low of $32.32 and a 52-week high of $85.33. The company has a quick ratio of 2.41, a current ratio of 3.52 and a debt-to-equity ratio of 0.40.

Mercury Systems (NASDAQ:MRCY) last issued its quarterly earnings results on Tuesday, June 7th. The technology company reported $0.64 earnings per share (EPS) for the quarter. The company had revenue of $256.86 million during the quarter. Mercury Systems had a positive return on equity of 0.58% and a negative net margin of 4.16%. On average, sell-side analysts expect that Mercury Systems will post -0.08 EPS for the current year.

Insider Activity

In other news, CEO William L. Ballhaus sold 13,050 shares of the firm’s stock in a transaction on Tuesday, August 19th. The stock was sold at an average price of $64.46, for a total transaction of $841,203.00. Following the transaction, the chief executive officer owned 374,976 shares in the company, valued at approximately $24,170,952.96. This trade represents a 3.36% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Stuart Kupinsky sold 1,220 shares of the firm’s stock in a transaction on Tuesday, August 19th. The shares were sold at an average price of $64.46, for a total value of $78,641.20. Following the transaction, the executive vice president owned 70,297 shares in the company, valued at approximately $4,531,344.62. This represents a 1.71% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 848,980 shares of company stock valued at $55,529,247. Company insiders own 1.40% of the company’s stock.

Hedge Funds Weigh In On Mercury Systems

Several institutional investors and hedge funds have recently added to or reduced their stakes in MRCY. Osaic Holdings Inc. grew its stake in Mercury Systems by 53.2% in the second quarter. Osaic Holdings Inc. now owns 599 shares of the technology company’s stock valued at $32,000 after purchasing an additional 208 shares during the last quarter. Quaker Wealth Management LLC boosted its holdings in Mercury Systems by 200.0% in the second quarter. Quaker Wealth Management LLC now owns 644 shares of the technology company’s stock worth $35,000 after acquiring an additional 1,288 shares in the last quarter. Federated Hermes Inc. acquired a new stake in Mercury Systems in the second quarter worth about $43,000. GAMMA Investing LLC boosted its holdings in Mercury Systems by 59.6% in the first quarter. GAMMA Investing LLC now owns 1,058 shares of the technology company’s stock worth $46,000 after acquiring an additional 395 shares in the last quarter. Finally, EverSource Wealth Advisors LLC boosted its holdings in Mercury Systems by 33.7% in the second quarter. EverSource Wealth Advisors LLC now owns 929 shares of the technology company’s stock worth $50,000 after acquiring an additional 234 shares in the last quarter. 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.