JPMorgan Chase & Co. Increases Mercury Systems (NASDAQ:MRCY) Price Target to $68.00

Mercury Systems (NASDAQ:MRCY) had its target price boosted by equities researchers at JPMorgan Chase & Co. from $56.00 to $68.00 in a research report issued on Tuesday,Benzinga reports. The brokerage presently has a “neutral” rating on the technology company’s stock. JPMorgan Chase & Co.‘s target price indicates a potential downside of 0.57% from the company’s current price.

Other equities analysts also recently issued reports about the company. Truist Financial lifted their target price on Mercury Systems from $60.00 to $71.00 and gave the company a “buy” rating in a research note on Tuesday. The Goldman Sachs Group lifted their target price on Mercury Systems from $30.00 to $33.00 and gave the company a “sell” rating in a research note on Monday, May 12th. Royal Bank Of Canada lifted their target price on Mercury Systems from $50.00 to $55.00 and gave the company a “sector perform” rating in a research note on Thursday, July 3rd. Raymond James Financial upgraded Mercury Systems from an “outperform” rating to a “strong-buy” rating and lifted their target price for the company from $55.00 to $80.00 in a research note on Tuesday. Finally, Robert W. Baird boosted their price objective on Mercury Systems from $58.00 to $70.00 and gave the stock an “outperform” rating in a research report on Tuesday. One investment analyst has rated the stock with a sell rating, four have given a hold rating, three have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $59.13.

Mercury Systems Stock Up 0.5%

Shares of NASDAQ MRCY opened at $68.39 on Tuesday. Mercury Systems has a 1 year low of $32.32 and a 1 year high of $69.95. The firm has a market cap of $4.10 billion, a price-to-earnings ratio of -103.62, a PEG ratio of 3.19 and a beta of 0.72. The company has a debt-to-equity ratio of 0.40, a quick ratio of 2.25 and a current ratio of 3.52. The stock’s 50-day simple moving average is $52.69 and its 200-day simple moving average is $48.17.

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

Insiders Place Their Bets

In other Mercury Systems news, EVP Steven Ratner sold 1,839 shares of the company’s stock in a transaction that occurred on Monday, June 16th. The stock was sold at an average price of $53.48, for a total value of $98,349.72. Following the completion of the sale, the executive vice president directly owned 35,174 shares in the company, valued at $1,881,105.52. This represents a 4.97% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.60% of the stock is owned by company insiders.

Institutional Investors Weigh In On Mercury Systems

A number of institutional investors have recently added to or reduced their stakes in the company. EverSource Wealth Advisors LLC lifted its position in Mercury Systems by 33.7% in the second quarter. EverSource Wealth Advisors LLC now owns 929 shares of the technology company’s stock worth $50,000 after purchasing an additional 234 shares during the period. GAMMA Investing LLC lifted its position in Mercury Systems by 25.0% in the second quarter. GAMMA Investing LLC now owns 1,322 shares of the technology company’s stock worth $71,000 after purchasing an additional 264 shares during the period. Teacher Retirement System of Texas increased its holdings in shares of Mercury Systems by 4.0% in the second quarter. Teacher Retirement System of Texas now owns 7,703 shares of the technology company’s stock valued at $415,000 after buying an additional 294 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. increased its holdings in shares of Mercury Systems by 4.0% in the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 11,763 shares of the technology company’s stock valued at $507,000 after buying an additional 449 shares in the last quarter. Finally, Fifth Third Bancorp increased its holdings in shares of Mercury Systems by 53.8% in the first quarter. Fifth Third Bancorp now owns 1,290 shares of the technology company’s stock valued at $56,000 after buying an additional 451 shares in the last quarter. 95.99% of the stock is currently owned by institutional investors and hedge funds.

About Mercury Systems

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.