Mercury Systems (NASDAQ:MRCY) Price Target Raised to $55.00

Mercury Systems (NASDAQ:MRCY) had its price objective raised by Royal Bank Of Canada from $50.00 to $55.00 in a note issued to investors on Thursday,Benzinga reports. The brokerage presently has a “sector perform” rating on the technology company’s stock. Royal Bank Of Canada’s target price would indicate a potential upside of 7.17% from the company’s current price.

Several other analysts also recently commented on MRCY. Truist Financial increased their price objective on Mercury Systems from $56.00 to $60.00 and gave the stock a “buy” rating in a research note on Monday, June 2nd. JPMorgan Chase & Co. increased their price objective on Mercury Systems from $48.00 to $56.00 and gave the stock a “neutral” rating in a research note on Monday, June 16th. Finally, The Goldman Sachs Group increased their price objective on Mercury Systems from $30.00 to $33.00 and gave the stock a “sell” rating in a research note on Monday, May 12th. One investment 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, Mercury Systems has a consensus rating of “Hold” and a consensus price target of $50.29.

Mercury Systems Stock Up 1.6%

Shares of NASDAQ:MRCY opened at $51.32 on Thursday. The business’s 50 day simple moving average is $49.83 and its two-hundred day simple moving average is $45.97. The firm has a market cap of $3.07 billion, a P/E ratio of -45.82, a PEG ratio of 10.63 and a beta of 0.71. The company has a debt-to-equity ratio of 0.41, a quick ratio of 2.25 and a current ratio of 3.44. Mercury Systems has a 52-week low of $28.78 and a 52-week high of $54.32.

Mercury Systems (NASDAQ:MRCY) last announced its quarterly earnings results on Tuesday, May 6th. The technology company reported $0.06 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.06. The business had revenue of $211.36 million for the quarter, compared to analyst estimates of $204.25 million. Mercury Systems had a negative return on equity of 0.77% and a negative net margin of 7.33%. The company’s quarterly revenue was up 1.5% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.26) earnings per share. As a group, research analysts forecast that Mercury Systems will post -0.08 EPS for the current fiscal year.

Insider Activity at Mercury Systems

In related news, Director Jana Partners Management, Lp sold 88,152 shares of the stock in a transaction that occurred on Thursday, May 8th. The stock was sold at an average price of $46.27, for a total transaction of $4,078,793.04. Following the completion of the sale, the director directly owned 6,861,313 shares of the company’s stock, valued at approximately $317,472,952.51. This trade represents a 1.27% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Steven Ratner sold 1,839 shares of the stock in a transaction that occurred on Monday, June 16th. The shares were sold at an average price of $53.48, for a total value of $98,349.72. Following the sale, the executive vice president directly owned 35,174 shares of the company’s stock, valued at $1,881,105.52. The trade was a 4.97% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 93,883 shares of company stock valued at $4,362,791. Company insiders own 1.60% of the company’s stock.

Institutional Trading of Mercury Systems

A number of institutional investors and hedge funds have recently modified their holdings of MRCY. Millennium Management LLC increased its position in shares of Mercury Systems by 196.1% during the fourth quarter. Millennium Management LLC now owns 1,023,508 shares of the technology company’s stock valued at $42,987,000 after acquiring an additional 677,894 shares during the last quarter. MetLife Investment Management LLC increased its position in shares of Mercury Systems by 1,479.5% during the first quarter. MetLife Investment Management LLC now owns 492,638 shares of the technology company’s stock valued at $21,228,000 after acquiring an additional 461,449 shares during the last quarter. First Trust Advisors LP increased its position in shares of Mercury Systems by 50.8% during the fourth quarter. First Trust Advisors LP now owns 988,936 shares of the technology company’s stock valued at $41,535,000 after acquiring an additional 333,109 shares during the last quarter. Victory Capital Management Inc. increased its position in shares of Mercury Systems by 16.7% during the fourth quarter. Victory Capital Management Inc. now owns 2,060,131 shares of the technology company’s stock valued at $86,526,000 after acquiring an additional 294,747 shares during the last quarter. Finally, Goldman Sachs Group Inc. increased its position in shares of Mercury Systems by 51.6% during the first quarter. Goldman Sachs Group Inc. now owns 855,441 shares of the technology company’s stock valued at $36,861,000 after acquiring an additional 290,989 shares during the last quarter. 95.99% of the stock is owned by hedge funds and other institutional investors.

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.