Mercury Systems (NASDAQ:MRCY) Stock Rating Upgraded by Raymond James Financial

Raymond James Financial upgraded shares of Mercury Systems (NASDAQ:MRCY) from an outperform rating to a strong-buy rating in a report released on Tuesday morning, Marketbeat Ratings reports. They currently have $80.00 price objective on the technology company’s stock, up from their previous price objective of $55.00.

Several other research firms also recently commented on MRCY. Truist Financial upped their price target on shares of Mercury Systems from $56.00 to $60.00 and gave the company a “buy” rating in a research report on Monday, June 2nd. The Goldman Sachs Group upped their price target on shares of Mercury Systems from $30.00 to $33.00 and gave the company a “sell” rating in a research report on Monday, May 12th. Royal Bank Of Canada upped their price target on shares of Mercury Systems from $50.00 to $55.00 and gave the company a “sector perform” rating in a research report on Thursday, July 3rd. JPMorgan Chase & Co. upped their price target on shares of Mercury Systems from $48.00 to $56.00 and gave the company a “neutral” rating in a research report on Monday, June 16th. Finally, Robert W. Baird upped their price target on shares of Mercury Systems from $58.00 to $70.00 and gave the company an “outperform” rating in a research report on Tuesday. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, three have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $58.38.

Mercury Systems Stock Up 27.0%

Shares of NASDAQ:MRCY opened at $68.02 on Tuesday. The company has a market capitalization of $4.06 billion, a PE ratio of -103.06, a P/E/G ratio of 2.51 and a beta of 0.72. The company has a current ratio of 3.44, a quick ratio of 2.25 and a debt-to-equity ratio of 0.41. Mercury Systems has a twelve month low of $32.32 and a twelve month high of $68.33. The firm has a 50 day simple moving average of $52.35 and a 200-day simple moving average of $48.03.

Mercury Systems (NASDAQ:MRCY) last released its quarterly earnings results on Monday, August 11th. The technology company reported $0.47 EPS for the quarter, beating the consensus estimate of $0.21 by $0.26. Mercury Systems had a negative net margin of 4.16% and a positive return on equity of 0.58%. The firm had revenue of $273.11 million during the quarter, compared to the consensus estimate of $244.56 million. During the same quarter in the prior year, the firm earned $0.23 EPS. Mercury Systems’s revenue for the quarter was up 9.9% on a year-over-year basis. On average, equities analysts predict that Mercury Systems will post -0.08 EPS for the current fiscal year.

Insider Transactions at Mercury Systems

In other Mercury Systems news, EVP Steven Ratner sold 1,839 shares of the business’s stock in a transaction 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 transaction, the executive vice president directly owned 35,174 shares of the company’s stock, valued at approximately $1,881,105.52. The trade was a 4.97% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 1.60% of the company’s stock.

Hedge Funds Weigh In On Mercury Systems

Several institutional investors have recently bought and sold shares of the company. LPL Financial LLC grew its stake in shares of Mercury Systems by 11.4% during the 4th quarter. LPL Financial LLC now owns 52,746 shares of the technology company’s stock worth $2,261,000 after purchasing an additional 5,388 shares during the period. JPMorgan Chase & Co. grew its stake in shares of Mercury Systems by 217.2% during the 4th quarter. JPMorgan Chase & Co. now owns 146,624 shares of the technology company’s stock worth $6,158,000 after purchasing an additional 100,404 shares during the period. Wells Fargo & Company MN grew its stake in shares of Mercury Systems by 12.7% during the 4th quarter. Wells Fargo & Company MN now owns 44,685 shares of the technology company’s stock worth $1,877,000 after purchasing an additional 5,038 shares during the period. Russell Investments Group Ltd. grew its stake in shares of Mercury Systems by 156,480.0% during the 4th quarter. Russell Investments Group Ltd. now owns 15,658 shares of the technology company’s stock worth $658,000 after purchasing an additional 15,648 shares during the period. Finally, Bank of Montreal Can grew its stake in shares of Mercury Systems by 5.0% during the 4th quarter. Bank of Montreal Can now owns 10,984 shares of the technology company’s stock worth $461,000 after purchasing an additional 519 shares during the period. 95.99% of the stock is 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.