Truist Financial Lowers Mercury Systems (NASDAQ:MRCY) to Hold

Mercury Systems (NASDAQ:MRCYGet Free Report) was downgraded by Truist Financial from a “buy” rating to a “hold” rating in a note issued to investors on Wednesday, FinViz reports. They currently have a $28.00 price objective on the technology company’s stock, down from their prior price objective of $48.00. Truist Financial’s price objective points to a potential downside of 7.44% from the company’s previous close.

A number of other research analysts have also weighed in on MRCY. Jefferies Financial Group lowered shares of Mercury Systems from a “hold” rating to an “underperform” rating and cut their price target for the company from $35.00 to $30.00 in a research note on Wednesday, January 3rd. The Goldman Sachs Group reissued a “sell” rating and set a $24.00 price target (down from $37.00) on shares of Mercury Systems in a research report on Wednesday, January 10th. Finally, Bank of America restated an “underperform” rating and set a $30.00 price objective on shares of Mercury Systems in a research note on Wednesday, November 29th. Four equities research analysts have rated the stock with a sell rating and four have issued a hold rating to the company. According to data from MarketBeat.com, Mercury Systems has a consensus rating of “Hold” and an average target price of $30.88.

Get Our Latest Report on Mercury Systems

Mercury Systems Stock Performance

Shares of MRCY stock opened at $30.25 on Wednesday. The stock has a 50-day moving average of $33.98 and a 200-day moving average of $35.77. The stock has a market cap of $1.79 billion, a PE ratio of -33.99, a price-to-earnings-growth ratio of 36.78 and a beta of 0.71. Mercury Systems has a one year low of $28.90 and a one year high of $55.08. The company has a debt-to-equity ratio of 0.37, a current ratio of 4.65 and a quick ratio of 2.88.

Mercury Systems (NASDAQ:MRCYGet Free Report) last announced its quarterly earnings results on Tuesday, November 7th. The technology company reported ($0.36) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.04) by ($0.32). The business had revenue of $180.99 million during the quarter, compared to the consensus estimate of $218.16 million. Mercury Systems had a negative return on equity of 0.17% and a negative net margin of 5.47%. As a group, sell-side analysts expect that Mercury Systems will post 0.48 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director Jana Partners Management, Lp acquired 64,435 shares of the stock in a transaction on Tuesday, November 28th. The shares were purchased at an average price of $33.14 per share, for a total transaction of $2,135,375.90. Following the transaction, the director now directly owns 5,035,743 shares of the company’s stock, valued at $166,884,523.02. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Insiders have bought 343,948 shares of company stock worth $11,497,640 in the last 90 days. Company insiders own 1.80% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Advisor Group Holdings Inc. boosted its stake in shares of Mercury Systems by 7.0% during the fourth quarter. Advisor Group Holdings Inc. now owns 2,960 shares of the technology company’s stock valued at $132,000 after purchasing an additional 193 shares in the last quarter. Truist Financial Corp boosted its stake in shares of Mercury Systems by 4.2% during the fourth quarter. Truist Financial Corp now owns 6,173 shares of the technology company’s stock valued at $276,000 after purchasing an additional 247 shares in the last quarter. Cim Investment Management Inc. boosted its stake in shares of Mercury Systems by 3.6% during the first quarter. Cim Investment Management Inc. now owns 7,340 shares of the technology company’s stock valued at $375,000 after purchasing an additional 252 shares in the last quarter. Transatlantique Private Wealth LLC boosted its stake in shares of Mercury Systems by 2.4% during the third quarter. Transatlantique Private Wealth LLC now owns 14,032 shares of the technology company’s stock valued at $513,000 after purchasing an additional 328 shares in the last quarter. Finally, Captrust Financial Advisors boosted its stake in shares of Mercury Systems by 22.0% during the second quarter. Captrust Financial Advisors now owns 1,919 shares of the technology company’s stock valued at $123,000 after purchasing an additional 346 shares in the last quarter. Institutional investors own 95.99% of the company’s stock.

Mercury Systems Company Profile

(Get Free Report)

Mercury Systems, Inc, a technology company, manufactures and sells components, products, modules, and subsystems for aerospace and defense industries in the United States, Europe, and the Asia Pacific. Its products and solutions are deployed in approximately 300 programs with 25 defense contractors and commercial aviation customers.

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