Mercury Systems (NASDAQ:MRCY) Upgraded at Guggenheim

Guggenheim upgraded shares of Mercury Systems (NASDAQ:MRCY) to a strong-buy rating in a report released on Monday morning,Zacks reports.

Several other brokerages also recently commented on MRCY. Wall Street Zen downgraded Mercury Systems from a “buy” rating to a “hold” rating in a report on Saturday, July 18th. Canaccord Genuity Group raised their price target on Mercury Systems from $106.00 to $128.00 and gave the company a “buy” rating in a report on Thursday, August 20th. JPMorgan Chase & Co. lifted their price objective on Mercury Systems from $99.00 to $101.00 and gave the company a “neutral” rating in a research report on Monday, July 13th. Jefferies Financial Group reissued a “hold” rating and issued a $115.00 price objective on shares of Mercury Systems in a research note on Friday, July 10th. Finally, Deutsche Bank Aktiengesellschaft downgraded Mercury Systems to a “hold” rating in a research note on Wednesday, August 12th. Two analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating, four have given a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $110.55.

Mercury Systems Stock Up 0.3%

Shares of NASDAQ:MRCY opened at $87.25 on Monday. The company’s fifty day moving average is $96.64 and its 200-day moving average is $94.83. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.85 and a current ratio of 2.96. Mercury Systems has a 52 week low of $65.04 and a 52 week high of $128.45. The company has a market capitalization of $5.25 billion, a PE ratio of -174.50 and a beta of 0.98.

Mercury Systems (NASDAQ:MRCY) last announced its quarterly earnings results on Tuesday, August 18th. The technology company reported $0.37 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.38 by ($0.01). The firm had revenue of $289.78 million for the quarter, compared to the consensus estimate of $266.09 million. Mercury Systems had a negative net margin of 3.02% and a positive return on equity of 1.29%. The company’s revenue for the quarter was up 6.1% on a year-over-year basis. During the same period in the prior year, the business earned $0.47 earnings per share. Equities research analysts predict that Mercury Systems will post 0.91 earnings per share for the current fiscal year.

Insider Activity at Mercury Systems

In other news, CEO William L. Ballhaus sold 49,090 shares of the stock in a transaction on Wednesday, August 26th. The shares were sold at an average price of $89.10, for a total transaction of $4,373,919.00. Following the completion of the sale, the chief executive officer owned 361,822 shares of the company’s stock, valued at $32,238,340.20. This represents a 11.95% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP David E. Farnsworth sold 6,612 shares of the firm’s stock in a transaction on Thursday, August 20th. The stock was sold at an average price of $97.67, for a total transaction of $645,794.04. Following the sale, the executive vice president owned 117,967 shares in the company, valued at approximately $11,521,836.89. The trade was a 5.31% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last 90 days, insiders have sold 450,186 shares of company stock valued at $41,770,650. Corporate insiders own 1.40% of the company’s stock.

Hedge Funds Weigh In On Mercury Systems

Large investors have recently added to or reduced their stakes in the company. Integrated Wealth Concepts LLC bought a new stake in shares of Mercury Systems in the second quarter valued at about $87,000. IFP Advisors Inc grew its holdings in shares of Mercury Systems by 250.8% during the second quarter. IFP Advisors Inc now owns 463 shares of the technology company’s stock worth $57,000 after buying an additional 331 shares in the last quarter. Nykredit A S bought a new position in shares of Mercury Systems during the second quarter worth about $265,000. Corient Private Wealth LP raised its position in Mercury Systems by 92.4% in the 2nd quarter. Corient Private Wealth LP now owns 11,338 shares of the technology company’s stock valued at $1,387,000 after buying an additional 5,446 shares during the last quarter. Finally, HB Wealth Management LLC acquired a new stake in Mercury Systems in the 2nd quarter valued at approximately $376,000. Institutional investors own 95.99% of the company’s stock.

About Mercury Systems

Mercury Systems, Inc is a technology company that develops and manufactures secure, high-performance computing and sensor-processing solutions for the aerospace and defense industries. Its products are designed for use in mission-critical applications where ruggedness, rapid data processing, cybersecurity and long operational life are essential.

The company’s offerings include embedded computing systems, digital signal processing technologies, radio-frequency and microwave components, avionics systems, sensor-processing solutions, electronic warfare technology and secure communications products.