Mercury Systems (NASDAQ:MRCY) Research Coverage Started at Oppenheimer

Oppenheimer assumed coverage on shares of Mercury Systems (NASDAQ:MRCY) in a report released on Thursday, Marketbeat Ratings reports. The brokerage issued an outperform rating and a $90.00 price target on the technology company’s stock.

Several other research firms have also commented on MRCY. Canaccord Genuity Group increased their target price on shares of Mercury Systems from $106.00 to $128.00 and gave the company a “buy” rating in a report on Thursday, August 20th. Weiss Ratings downgraded shares of Mercury Systems from a “sell (d)” rating to a “sell (d-)” rating in a research note on Monday, September 28th. Wall Street Zen lowered shares of Mercury Systems from a “buy” rating to a “hold” rating in a research report on Saturday, July 18th. JPMorgan Chase & Co. raised their price objective on Mercury Systems from $99.00 to $101.00 and gave the company a “neutral” rating in a research note on Monday, July 13th. Finally, Robert W. Baird lifted their price objective on Mercury Systems from $120.00 to $130.00 and gave the stock an “outperform” rating in a report on Wednesday, August 19th. Two equities research analysts have rated the stock with a Strong Buy rating, six have given a Buy rating, four have given a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, Mercury Systems has an average rating of “Moderate Buy” and an average target price of $108.55.

Mercury Systems Stock Down 0.9%

Shares of MRCY opened at $74.87 on Thursday. The firm has a market cap of $4.56 billion, a P/E ratio of -149.74 and a beta of 0.97. The stock has a 50 day simple moving average of $83.97 and a two-hundred day simple moving average of $94.66. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.96 and a quick ratio of 1.85. Mercury Systems has a 1 year low of $65.04 and a 1 year high of $128.45.

Mercury Systems (NASDAQ:MRCY) last issued its quarterly earnings results on Tuesday, August 18th. The technology company reported $0.37 EPS for the quarter, missing analysts’ consensus estimates of $0.38 by ($0.01). The business 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 firm’s revenue was up 6.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.47 earnings per share. On average, analysts forecast that Mercury Systems will post 0.91 earnings per share for the current fiscal year.

Insider Transactions at Mercury Systems

In other Mercury Systems news, EVP David E. Farnsworth sold 8,155 shares of the stock in a transaction that occurred on Wednesday, August 19th. The stock was sold at an average price of $100.31, for a total value of $818,028.05. Following the completion of the sale, the executive vice president owned 124,579 shares in the company, valued at approximately $12,496,519.49. This trade represents a 6.14% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO William L. Ballhaus sold 111,076 shares of the stock in a transaction that occurred on Tuesday, August 25th. The stock was sold at an average price of $87.12, for a total value of $9,676,941.12. Following the completion of the sale, the chief executive officer owned 342,436 shares of the company’s stock, valued at approximately $29,833,024.32. This trade represents a 24.49% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 451,186 shares of company stock worth $41,857,170. 0.99% of the stock is owned by company insiders.

Hedge Funds Weigh In On Mercury Systems

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Signaturefd LLC boosted its holdings in Mercury Systems by 66.8% in the third quarter. Signaturefd LLC now owns 1,306 shares of the technology company’s stock valued at $108,000 after acquiring an additional 523 shares in the last quarter. Yousif Capital Management LLC raised its holdings in Mercury Systems by 16.8% in the 3rd quarter. Yousif Capital Management LLC now owns 16,808 shares of the technology company’s stock worth $1,395,000 after purchasing an additional 2,423 shares in the last quarter. Crossmark Global Holdings Inc. raised its holdings in Mercury Systems by 18.5% in the 3rd quarter. Crossmark Global Holdings Inc. now owns 5,200 shares of the technology company’s stock worth $432,000 after purchasing an additional 811 shares in the last quarter. Quadrant Capital Group LLC raised its holdings in Mercury Systems by 2.1% in the 3rd quarter. Quadrant Capital Group LLC now owns 8,017 shares of the technology company’s stock worth $615,000 after purchasing an additional 167 shares in the last quarter. Finally, GAMMA Investing LLC lifted its position in shares of Mercury Systems by 15.0% in the 3rd quarter. GAMMA Investing LLC now owns 2,282 shares of the technology company’s stock worth $189,000 after purchasing an additional 298 shares during the period. Institutional investors own 95.99% of the company’s stock.

Mercury Systems Company Profile

Mercury Systems, Inc is an aerospace and defense technology company that develops and manufactures mission-critical computing and electronic systems. Its products are designed for use in aircraft, unmanned systems, naval vessels, ground vehicles, radar platforms and other defense applications.

The company provides embedded computing solutions, including high-performance processors, ruggedized computers, secure servers, data-storage systems and software. Its portfolio also includes radio-frequency and microwave components, electronic warfare systems, signal processing technologies and systems used for radar, communications, avionics and intelligence, surveillance and reconnaissance missions.

Founded in 1981 and headquartered in Andover, Massachusetts, Mercury Systems primarily serves the U.S.