Mercury Systems (NASDAQ:MRCY) Given New $80.00 Price Target at Jefferies Financial Group

Mercury Systems (NASDAQ:MRCY) had its price objective reduced by research analysts at Jefferies Financial Group from $85.00 to $80.00 in a report issued on Tuesday,Benzinga reports. The brokerage presently has a “hold” rating on the technology company’s stock. Jefferies Financial Group’s price objective would indicate a potential upside of 3.19% from the company’s previous close.

Other equities analysts have also issued reports about the company. Canaccord Genuity Group set a $102.00 price target on Mercury Systems in a research note on Wednesday, February 4th. Truist Financial boosted their price target on Mercury Systems from $102.00 to $109.00 and gave the company a “buy” rating in a research note on Wednesday, February 4th. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $105.00 target price on shares of Mercury Systems in a research report on Wednesday, February 4th. The Goldman Sachs Group upped their target price on Mercury Systems from $49.00 to $55.00 and gave the stock a “sell” rating in a research report on Tuesday, January 20th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Mercury Systems in a research report on Thursday, January 22nd. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, three have issued a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $86.33.

Mercury Systems Trading Up 2.3%

Shares of NASDAQ MRCY traded up $1.78 during midday trading on Tuesday, reaching $77.53. The stock had a trading volume of 465,439 shares, compared to its average volume of 667,302. Mercury Systems has a twelve month low of $42.00 and a twelve month high of $103.84. The company has a debt-to-equity ratio of 0.41, a quick ratio of 2.04 and a current ratio of 2.96. The company’s 50 day moving average price is $83.79 and its 200 day moving average price is $80.13. The firm has a market cap of $4.65 billion, a price-to-earnings ratio of -146.28, a price-to-earnings-growth ratio of 7.19 and a beta of 0.84.

Mercury Systems (NASDAQ:MRCY) last issued its quarterly earnings results on Tuesday, February 3rd. The technology company reported $0.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.07 by $0.09. Mercury Systems had a positive return on equity of 1.28% and a negative net margin of 3.23%.The firm had revenue of $232.87 million for the quarter, compared to analyst estimates of $209.96 million. During the same period in the previous year, the firm earned $0.07 earnings per share. The company’s revenue was up 4.4% compared to the same quarter last year. As a group, sell-side analysts expect that Mercury Systems will post -0.08 EPS for the current year.

Insiders Place Their Bets

In other Mercury Systems news, Director Howard L. Lance sold 4,832 shares of the company’s stock in a transaction on Wednesday, February 25th. The stock was sold at an average price of $88.98, for a total value of $429,951.36. Following the completion of the transaction, the director owned 27,272 shares in the company, valued at $2,426,662.56. This represents a 15.05% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Stuart Kupinsky sold 2,287 shares of the company’s stock in a transaction on Tuesday, February 17th. The shares were sold at an average price of $83.56, for a total value of $191,101.72. Following the completion of the transaction, the executive vice president owned 68,010 shares of the company’s stock, valued at $5,682,915.60. This trade represents a 3.25% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 859,758 shares of company stock worth $74,481,931 over the last 90 days. Company insiders own 1.40% of the company’s stock.

Institutional Trading of Mercury Systems

A number of institutional investors have recently added to or reduced their stakes in the stock. Hsbc Holdings PLC purchased a new stake in Mercury Systems during the 4th quarter worth about $248,000. Rockefeller Capital Management L.P. lifted its holdings in Mercury Systems by 53.6% during the 4th quarter. Rockefeller Capital Management L.P. now owns 653 shares of the technology company’s stock worth $48,000 after purchasing an additional 228 shares in the last quarter. Corient Private Wealth LLC lifted its holdings in Mercury Systems by 35.7% during the 4th quarter. Corient Private Wealth LLC now owns 7,811 shares of the technology company’s stock worth $573,000 after purchasing an additional 2,056 shares in the last quarter. Corecam Pte. Ltd. purchased a new stake in Mercury Systems during the 4th quarter worth about $321,000. Finally, T. Rowe Price Investment Management Inc. lifted its holdings in Mercury Systems by 1.4% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 1,542,851 shares of the technology company’s stock worth $112,644,000 after purchasing an additional 21,182 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 (NASDAQ: MRCY) is a technology company that designs, manufactures and markets secure processing subsystems for aerospace and defense applications. The company’s products are built to address the stringent security, safety and reliability requirements of mission-critical programs, with a focus on radar, electronic warfare, intelligence and other sensor and processing functions. Mercury’s offerings encompass rugged embedded computing modules, high-performance radio frequency (RF) and microwave components, digital signal processing subsystems and secure networking solutions.

Since its origins in advanced signal processing, Mercury Systems has expanded its capabilities through a combination of internal development and targeted acquisitions.