Mercury Systems Inc (NASDAQ:MRCY) had its price target boosted by investment analysts at Citigroup Inc to $48.00 in a report issued on Monday. The firm presently has a “buy” rating on the stock. Citigroup Inc’s price objective suggests a potential upside of 19.40% from the stock’s previous close.
Several other analysts have also recently issued reports on MRCY. Zacks Investment Research cut shares of Mercury Systems from a “buy” rating to a “hold” rating in a research note on Wednesday, December 28th. SunTrust Banks, Inc. initiated coverage on shares of Mercury Systems in a research note on Thursday, January 19th. They set a “buy” rating and a $36.00 price objective for the company. Robert W. Baird reissued an “outperform” rating and set a $34.00 price objective on shares of Mercury Systems in a research note on Friday, January 20th. Jefferies Group LLC boosted their price objective on shares of Mercury Systems from $28.00 to $30.00 and gave the company a “hold” rating in a research note on Tuesday, January 24th. Finally, Bank of America Corp raised shares of Mercury Systems from a “neutral” rating to a “buy” rating in a research note on Tuesday, January 24th. Three equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus target price of $35.00.
Shares of Mercury Systems (NASDAQ:MRCY) traded up 0.95% on Monday, reaching $40.20. The company had a trading volume of 459,796 shares. Mercury Systems has a 12 month low of $16.38 and a 12 month high of $40.69. The firm’s 50 day moving average is $36.77 and its 200 day moving average is $29.95. The firm has a market capitalization of $1.65 billion, a PE ratio of 72.83 and a beta of 0.50.
Mercury Systems (NASDAQ:MRCY) last announced its quarterly earnings data on Monday, January 23rd. The company reported $0.30 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.11 by $0.19. Mercury Systems had a net margin of 6.53% and a return on equity of 6.69%. The company earned $98 million during the quarter, compared to analysts’ expectations of $93.21 million. During the same period in the previous year, the company earned $0.23 EPS. The business’s quarterly revenue was up 62.3% compared to the same quarter last year. On average, equities research analysts expect that Mercury Systems will post $0.52 earnings per share for the current fiscal year.
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In related news, insider Mark Aslett sold 9,600 shares of the company’s stock in a transaction on Friday, February 17th. The shares were sold at an average price of $37.15, for a total transaction of $356,640.00. Following the completion of the sale, the insider now directly owns 595,849 shares of the company’s stock, valued at approximately $22,135,790.35. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders have sold a total of 38,400 shares of company stock valued at $1,414,944 over the last three months. Corporate insiders own 4.30% of the company’s stock.
A number of hedge funds have recently made changes to their positions in MRCY. BlackRock Fund Advisors boosted its stake in shares of Mercury Systems by 8.8% in the third quarter. BlackRock Fund Advisors now owns 2,837,803 shares of the company’s stock worth $69,725,000 after buying an additional 228,934 shares during the period. Neuberger Berman Group LLC boosted its stake in shares of Mercury Systems by 0.5% in the third quarter. Neuberger Berman Group LLC now owns 1,700,102 shares of the company’s stock worth $41,772,000 after buying an additional 8,780 shares during the period. Bank of New York Mellon Corp boosted its stake in shares of Mercury Systems by 28.3% in the third quarter. Bank of New York Mellon Corp now owns 1,207,883 shares of the company’s stock worth $29,678,000 after buying an additional 266,156 shares during the period. ACK Asset Management LLC boosted its stake in shares of Mercury Systems by 6.4% in the third quarter. ACK Asset Management LLC now owns 1,182,241 shares of the company’s stock worth $29,048,000 after buying an additional 70,841 shares during the period. Finally, State Street Corp boosted its stake in shares of Mercury Systems by 18.2% in the fourth quarter. State Street Corp now owns 1,033,362 shares of the company’s stock worth $31,222,000 after buying an additional 159,032 shares during the period. 79.14% of the stock is owned by hedge funds and other institutional investors.
About Mercury Systems
Mercury Systems, Inc is a commercial provider of secure processing subsystems designed and made in the United States. The Company’s solutions support a range of defense and intelligence programs. Its technologies include embedded processing modules and subsystems, radio frequency (RF) and microwave multi-function assemblies, as well as subsystems, and RF and microwave components.
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