Truist Financial Issues Positive Forecast for Mercury Systems (NASDAQ:MRCY) Stock Price

Mercury Systems (NASDAQ:MRCY) had its target price raised by stock analysts at Truist Financial from $60.00 to $71.00 in a note issued to investors on Tuesday,Benzinga reports. The firm currently has a “buy” rating on the technology company’s stock. Truist Financial’s price objective suggests a potential upside of 3.82% from the company’s current price.

MRCY has been the subject of several other reports. The Goldman Sachs Group upped their price objective on Mercury Systems from $30.00 to $33.00 and gave the stock a “sell” rating in a research report on Monday, May 12th. Raymond James Financial raised Mercury Systems from an “outperform” rating to a “strong-buy” rating and upped their price objective for the stock from $55.00 to $80.00 in a research report on Tuesday. Robert W. Baird upped 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. JPMorgan Chase & Co. boosted their target price on Mercury Systems from $48.00 to $56.00 and gave the company a “neutral” rating in a report on Monday, June 16th. Finally, Royal Bank Of Canada boosted their target price on Mercury Systems from $50.00 to $55.00 and gave the company a “sector perform” rating in a report on Thursday, July 3rd. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, three have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, Mercury Systems currently has a consensus rating of “Moderate Buy” and an average target price of $59.13.

Mercury Systems Trading Up 0.5%

NASDAQ:MRCY opened at $68.39 on Tuesday. The stock has a 50-day simple moving average of $52.69 and a 200-day simple moving average of $48.17. The stock has a market cap of $4.10 billion, a P/E ratio of -103.62, a P/E/G ratio of 3.19 and a beta of 0.72. Mercury Systems has a 1 year low of $32.32 and a 1 year high of $69.95. The company has a debt-to-equity ratio of 0.40, a quick ratio of 2.25 and a current ratio of 3.52.

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

Insider Buying and Selling

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 transaction of $98,349.72. Following the completion of the sale, the executive vice president directly owned 35,174 shares of the company’s stock, valued at $1,881,105.52. This represents a 4.97% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 1.60% of the stock is currently owned by corporate insiders.

Institutional Trading of Mercury Systems

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Archon Capital Management LLC purchased a new stake in Mercury Systems during the 2nd quarter valued at approximately $2,671,000. Kennedy Capital Management LLC raised its stake in Mercury Systems by 51.0% during the 2nd quarter. Kennedy Capital Management LLC now owns 530,933 shares of the technology company’s stock valued at $28,596,000 after acquiring an additional 179,255 shares during the last quarter. EverSource Wealth Advisors LLC raised its stake in Mercury Systems by 33.7% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 929 shares of the technology company’s stock valued at $50,000 after acquiring an additional 234 shares during the last quarter. Loomis Sayles & Co. L P raised its stake in Mercury Systems by 321.7% during the 2nd quarter. Loomis Sayles & Co. L P now owns 992,610 shares of the technology company’s stock valued at $53,462,000 after acquiring an additional 757,216 shares during the last quarter. Finally, Hsbc Holdings PLC purchased a new stake in Mercury Systems during the 2nd quarter valued at approximately $369,000. 95.99% of the stock is owned by hedge funds and other institutional investors.

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.