Brokerages Set Mercury Systems Inc (NASDAQ:MRCY) Price Target at $60.71

Key Points

• Mercury Systems Inc has received an average rating of "Moderate Buy" from nine brokerages, with varying recommendations including one sell, three holds, and three strong buys.
• CEO William L. Ballhaus sold 13,050 shares at an average price of $64.46, marking a 3.36% decrease in his ownership stake.
• The company reported a quarterly earnings per share of $0.47, surpassing the consensus estimate of $0.21, with revenue of $273.11 million compared to the estimated $244.56 million.

Shares of Mercury Systems Inc (NASDAQ:MRCY - Get Free Report) have been assigned a consensus recommendation of "Moderate Buy" from the nine brokerages that are covering the stock, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation, three have given a hold recommendation, two have assigned a buy recommendation and three have assigned a strong buy recommendation to the company. The average 1-year price objective among analysts that have issued a report on the stock in the last year is $60.7143.

MRCY has been the subject of several research analyst reports. The Goldman Sachs Group boosted their price objective on Mercury Systems from $35.00 to $39.00 and gave the company a "sell" rating in a research report on Wednesday, August 13th. Zacks Research upgraded Mercury Systems from a "strong sell" rating to a "strong-buy" rating in a research report on Thursday, August 21st. Robert W. Baird boosted their target price on Mercury Systems from $58.00 to $70.00 and gave the company an "outperform" rating in a research note on Tuesday, August 12th. JPMorgan Chase & Co. boosted their target price on Mercury Systems from $56.00 to $68.00 and gave the company a "neutral" rating in a research note on Tuesday, August 12th. Finally, Raymond James Financial upgraded Mercury Systems from an "outperform" rating to a "strong-buy" rating and boosted their target price for the company from $55.00 to $80.00 in a research note on Tuesday, August 12th.

Insider Transactions at Mercury Systems

In other Mercury Systems news, CEO William L. Ballhaus sold 13,050 shares of the business's stock in a transaction that occurred on Tuesday, August 19th. The stock was sold at an average price of $64.46, for a total value of $841,203.00. Following the sale, the chief executive officer owned 374,976 shares in the company, valued at approximately $24,170,952.96. The trade was a 3.36% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Jana Partners Management, Lp sold 797,000 shares of the business's stock in a transaction that occurred on Wednesday, August 13th. The shares were sold at an average price of $65.42, for a total value of $52,139,740.00. Following the completion of the sale, the director owned 5,964,313 shares in the company, valued at $390,185,356.46. The trade was a 11.79% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 850,752 shares of company stock worth $55,622,679. Corporate insiders own 1.60% of the company's stock.

Institutional Investors Weigh In On Mercury Systems

Several institutional investors have recently bought and sold shares of MRCY. Osaic Holdings Inc. raised its stake in shares of Mercury Systems by 53.2% during the 2nd quarter. Osaic Holdings Inc. now owns 599 shares of the technology company's stock worth $32,000 after purchasing an additional 208 shares in the last quarter. Neo Ivy Capital Management bought a new stake in shares of Mercury Systems during the 4th quarter worth approximately $33,000. Quaker Wealth Management LLC raised its stake in shares of Mercury Systems by 200.0% during the 2nd quarter. Quaker Wealth Management LLC now owns 644 shares of the technology company's stock worth $35,000 after purchasing an additional 1,288 shares in the last quarter. Federated Hermes Inc. bought a new stake in shares of Mercury Systems during the 2nd quarter worth approximately $43,000. Finally, GAMMA Investing LLC raised its stake in shares of Mercury Systems by 59.6% during the 1st quarter. GAMMA Investing LLC now owns 1,058 shares of the technology company's stock worth $46,000 after purchasing an additional 395 shares in the last quarter. Institutional investors own 95.99% of the company's stock.

Mercury Systems Stock Down 0.6%

Shares of MRCY traded down $0.42 on Monday, hitting $67.06. The company's stock had a trading volume of 114,769 shares, compared to its average volume of 608,679. The company has a quick ratio of 2.41, a current ratio of 3.52 and a debt-to-equity ratio of 0.40. The firm's fifty day moving average price is $57.25 and its 200-day moving average price is $50.54. Mercury Systems has a fifty-two week low of $32.32 and a fifty-two week high of $69.95. The firm has a market capitalization of $4.02 billion, a price-to-earnings ratio of -101.50, a P/E/G ratio of 2.78 and a beta of 0.77.

Mercury Systems (NASDAQ:MRCY - Get Free Report) last issued its quarterly earnings data on Monday, August 11th. The technology company reported $0.47 earnings per share (EPS) 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 business 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 firm earned $0.23 EPS. Mercury Systems's quarterly revenue was up 9.9% compared to the same quarter last year. On average, equities research analysts expect that Mercury Systems will post -0.08 EPS for the current year.

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.