Mercury Systems Inc. (NASDAQ:MRCY) has earned an average rating of “Hold” from the nine brokerages that are covering the stock, Marketbeat.com reports. Three equities research analysts have rated the stock with a sell recommendation, two have issued a hold recommendation and four have issued a buy recommendation on the company. The average 1-year target price among brokerages that have issued ratings on the stock in the last year is $51.33.
A number of equities research analysts recently weighed in on MRCY shares. Bank of America lowered Mercury Systems from a “buy” rating to an “underperform” rating and reduced their price objective for the stock from $50.00 to $35.00 in a research report on Wednesday, April 25th. Zacks Investment Research upgraded Mercury Systems from a “hold” rating to a “buy” rating and set a $48.00 price objective on the stock in a research report on Thursday, April 26th. BidaskClub downgraded Mercury Systems from a “sell” rating to a “strong sell” rating in a report on Friday, January 19th. ValuEngine downgraded Mercury Systems from a “sell” rating to a “strong sell” rating in a report on Wednesday, May 2nd. Finally, Noble Financial reaffirmed a “hold” rating on shares of Mercury Systems in a report on Thursday, January 25th.
MRCY stock traded up $0.40 during midday trading on Friday, reaching $34.69. 627,779 shares of the stock were exchanged, compared to its average volume of 527,236. The firm has a market capitalization of $1.66 billion, a P/E ratio of 36.52, a P/E/G ratio of 2.99 and a beta of 0.41. Mercury Systems has a 52 week low of $30.11 and a 52 week high of $55.00. The company has a quick ratio of 2.47, a current ratio of 3.95 and a debt-to-equity ratio of 0.26.
In related news, CFO Michael Ruppert bought 3,100 shares of the business’s stock in a transaction on Monday, May 7th. The shares were purchased at an average cost of $32.66 per share, with a total value of $101,246.00. Following the acquisition, the chief financial officer now owns 120,346 shares of the company’s stock, valued at $3,930,500.36. The purchase was disclosed in a filing with the SEC, which is available through this link. Also, insider Mark Aslett sold 9,600 shares of Mercury Systems stock in a transaction dated Thursday, February 15th. The stock was sold at an average price of $44.44, for a total value of $426,624.00. Following the transaction, the insider now directly owns 461,782 shares in the company, valued at $20,521,592.08. The disclosure for this sale can be found here. Insiders have sold a total of 42,800 shares of company stock worth $2,015,503 over the last ninety days. Company insiders own 3.50% of the company’s stock.
A number of institutional investors and hedge funds have recently made changes to their positions in the business. Fiera Capital Corp acquired a new position in Mercury Systems during the 1st quarter worth about $6,248,000. Sei Investments Co. lifted its stake in shares of Mercury Systems by 59.4% in the 1st quarter. Sei Investments Co. now owns 87,406 shares of the technology company’s stock valued at $4,223,000 after purchasing an additional 32,563 shares during the period. PNC Financial Services Group Inc. lifted its stake in shares of Mercury Systems by 16.7% in the 1st quarter. PNC Financial Services Group Inc. now owns 10,697 shares of the technology company’s stock valued at $517,000 after purchasing an additional 1,529 shares during the period. Dimensional Fund Advisors LP lifted its stake in shares of Mercury Systems by 0.6% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,843,182 shares of the technology company’s stock valued at $89,063,000 after purchasing an additional 10,753 shares during the period. Finally, California Public Employees Retirement System lifted its stake in shares of Mercury Systems by 38.9% in the 1st quarter. California Public Employees Retirement System now owns 74,487 shares of the technology company’s stock valued at $3,599,000 after purchasing an additional 20,844 shares during the period. 92.88% of the stock is currently owned by hedge funds and other institutional investors.
About Mercury Systems
Mercury Systems, Inc provides sensor and safety critical mission processing subsystems for various critical defense and intelligence programs in the United States. The company's products and solutions are deployed in approximately 300 programs with 25 defense prime contractors. Its principal programs include Aegis, Patriot, Surface Electronic Warfare Improvement Program, Gorgon Stare, Predator, F-35, Reaper, F-16 SABR, E2D Hawkeye, and Paveway.
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