Truist Financial Upgrades Mercury Systems (NASDAQ:MRCY) to Buy

Truist Financial upgraded shares of Mercury Systems (NASDAQ:MRCY) from a hold rating to a buy rating in a report issued on Thursday morning, MarketBeat Ratings reports. Truist Financial currently has $56.00 target price on the technology company’s stock, up from their previous target price of $49.00.

MRCY has been the subject of several other research reports. Baird R W upgraded Mercury Systems from a “hold” rating to a “strong-buy” rating in a report on Wednesday, February 5th. StockNews.com upgraded Mercury Systems from a “sell” rating to a “hold” rating in a report on Thursday, December 5th. The Goldman Sachs Group lifted their price target on Mercury Systems from $25.00 to $28.00 and gave the stock a “sell” rating in a report on Thursday, January 16th. Finally, Robert W. Baird upgraded Mercury Systems from a “neutral” rating to an “outperform” rating and lifted their price target for the stock from $37.00 to $58.00 in a report on Wednesday, February 5th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, three have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $43.86.

Mercury Systems Price Performance

Shares of NASDAQ MRCY opened at $46.52 on Thursday. The stock has a market capitalization of $2.78 billion, a price-to-earnings ratio of -29.82 and a beta of 0.80. The business has a 50-day moving average of $43.54 and a 200-day moving average of $39.94. The company has a debt-to-equity ratio of 0.41, a current ratio of 3.62 and a quick ratio of 2.36. Mercury Systems has a fifty-two week low of $26.48 and a fifty-two week high of $52.25.

Mercury Systems (NASDAQ:MRCY) last announced its quarterly earnings data on Tuesday, February 4th. The technology company reported ($0.08) earnings per share for the quarter, missing the consensus estimate of ($0.04) by ($0.04). Mercury Systems had a negative net margin of 10.23% and a negative return on equity of 2.03%. As a group, sell-side analysts predict that Mercury Systems will post -0.08 earnings per share for the current fiscal year.

Insider Transactions at Mercury Systems

In other news, EVP Stuart Kupinsky sold 2,377 shares of the business’s stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $44.12, for a total transaction of $104,873.24. Following the completion of the sale, the executive vice president now owns 62,834 shares in the company, valued at $2,772,236.08. The trade was a 3.65 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CAO Douglas Munro sold 595 shares of Mercury Systems stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $44.12, for a total transaction of $26,251.40. Following the completion of the sale, the chief accounting officer now owns 14,572 shares of the company’s stock, valued at approximately $642,916.64. The trade was a 3.92 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 5,314 shares of company stock worth $234,454 over the last quarter. Company insiders own 1.60% of the company’s stock.

Institutional Investors Weigh In On Mercury Systems

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Centaurus Financial Inc. acquired a new stake in shares of Mercury Systems in the fourth quarter valued at approximately $212,000. Neo Ivy Capital Management acquired a new stake in shares of Mercury Systems in the fourth quarter valued at approximately $33,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in Mercury Systems by 11.2% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 140,701 shares of the technology company’s stock valued at $5,909,000 after purchasing an additional 14,129 shares in the last quarter. Vident Advisory LLC raised its position in Mercury Systems by 29.2% during the fourth quarter. Vident Advisory LLC now owns 35,749 shares of the technology company’s stock valued at $1,501,000 after purchasing an additional 8,088 shares in the last quarter. Finally, Rafferty Asset Management LLC raised its position in Mercury Systems by 5.1% during the fourth quarter. Rafferty Asset Management LLC now owns 12,977 shares of the technology company’s stock valued at $545,000 after purchasing an additional 632 shares in the last quarter. 95.99% of the stock is currently owned by institutional investors and hedge funds.

Mercury Systems Company Profile

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.