Mercury Systems (MRCY) Receives Buy Rating from SunTrust Banks

Mercury Systems (NASDAQ:MRCY)‘s stock had its “buy” rating restated by SunTrust Banks in a research note issued on Tuesday, January 9th. They presently have a $61.00 target price on the technology company’s stock. SunTrust Banks’ target price would indicate a potential upside of 18.54% from the stock’s current price. SunTrust Banks also issued estimates for Mercury Systems’ FY2018 earnings at $1.28 EPS and FY2019 earnings at $1.68 EPS.

MRCY has been the topic of a number of other research reports. BidaskClub upgraded Mercury Systems from a “sell” rating to a “hold” rating in a research note on Wednesday, December 20th. Zacks Investment Research downgraded Mercury Systems from a “strong-buy” rating to a “hold” rating in a research note on Thursday, December 28th. Robert W. Baird restated a “buy” rating and issued a $48.00 target price on shares of Mercury Systems in a research note on Tuesday, October 24th. Finally, Noble Financial restated a “hold” rating on shares of Mercury Systems in a research note on Thursday, October 26th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Mercury Systems presently has a consensus rating of “Buy” and a consensus price target of $53.33.

Shares of Mercury Systems (NASDAQ MRCY) opened at $51.46 on Tuesday. Mercury Systems has a one year low of $29.43 and a one year high of $55.00. The company has a market capitalization of $2,482.51, a PE ratio of 59.84, a PEG ratio of 4.30 and a beta of 0.23.

Mercury Systems (NASDAQ:MRCY) last issued its earnings results on Tuesday, October 24th. The technology company reported $0.37 EPS for the quarter, topping analysts’ consensus estimates of $0.26 by $0.11. Mercury Systems had a return on equity of 6.51% and a net margin of 9.14%. The firm had revenue of $106.10 million for the quarter, compared to the consensus estimate of $105.18 million. During the same quarter in the prior year, the business earned $0.22 earnings per share. The company’s revenue was up 21.1% compared to the same quarter last year. analysts forecast that Mercury Systems will post 1.12 earnings per share for the current fiscal year.

In other news, CFO Gerald M. Haines II sold 2,500 shares of the company’s stock in a transaction that occurred on Tuesday, January 2nd. The stock was sold at an average price of $51.07, for a total value of $127,675.00. Following the completion of the sale, the chief financial officer now directly owns 213,260 shares in the company, valued at $10,891,188.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Mark Aslett sold 9,600 shares of the company’s stock in a transaction that occurred on Thursday, November 16th. The shares were sold at an average price of $50.11, for a total value of $481,056.00. The disclosure for this sale can be found here. Insiders sold a total of 62,300 shares of company stock valued at $3,171,165 in the last ninety days. 3.50% of the stock is currently owned by insiders.

Hedge funds have recently bought and sold shares of the company. Atlantic Trust Group LLC purchased a new stake in shares of Mercury Systems in the third quarter valued at approximately $1,258,000. Thrivent Financial For Lutherans grew its position in shares of Mercury Systems by 8.3% in the second quarter. Thrivent Financial For Lutherans now owns 29,020 shares of the technology company’s stock valued at $1,221,000 after purchasing an additional 2,230 shares in the last quarter. Bamco Inc. NY grew its position in shares of Mercury Systems by 8.9% in the third quarter. Bamco Inc. NY now owns 1,226,000 shares of the technology company’s stock valued at $63,605,000 after purchasing an additional 100,000 shares in the last quarter. Legal & General Group Plc grew its position in shares of Mercury Systems by 8.2% in the third quarter. Legal & General Group Plc now owns 93,854 shares of the technology company’s stock valued at $4,866,000 after purchasing an additional 7,122 shares in the last quarter. Finally, Campbell & CO Investment Adviser LLC purchased a new stake in shares of Mercury Systems in the third quarter valued at approximately $404,000. Institutional investors and hedge funds own 96.28% of the company’s stock.

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About Mercury Systems

Mercury Systems, Inc is a commercial provider of secure processing subsystems designed and made in the United States. The Company’s solutions support a range of defense and intelligence programs. Its technologies include embedded processing modules and subsystems, radio frequency (RF) and microwave multi-function assemblies, as well as subsystems, and RF and microwave components.

Analyst Recommendations for Mercury Systems (NASDAQ:MRCY)

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