Mercury Systems (NASDAQ:MRCY) Earns "Buy" Rating from Canaccord Genuity Group

Key Points

• Mercury Systems has received a "buy" rating from Canaccord Genuity Group, with a target price of $88.00, indicating a potential upside of 8.40% from its previous close.
• The company reported earnings per share of $0.47 for the last quarter, exceeding analysts' expectations, and experienced a year-over-year revenue increase of 9.9%.
• Insider selling has recently occurred, with CEO William L. Ballhaus selling 13,050 shares, representing a 3.36% decrease in his position.

Mercury Systems (NASDAQ:MRCY - Get Free Report)'s stock had its "buy" rating reaffirmed by equities research analysts at Canaccord Genuity Group in a research report issued to clients and investors on Thursday,Benzinga reports. They currently have a $88.00 target price on the technology company's stock. Canaccord Genuity Group's price objective points to a potential upside of 8.40% from the stock's previous close.

MRCY has been the subject of a number of other reports. Robert W. Baird lifted their price target on Mercury Systems from $58.00 to $70.00 and gave the company an "outperform" rating in a report on Tuesday, August 12th. The Goldman Sachs Group lifted their price target on Mercury Systems from $35.00 to $39.00 and gave the company a "sell" rating in a report on Wednesday, August 13th. Wall Street Zen raised Mercury Systems from a "hold" rating to a "buy" rating in a report on Saturday, September 13th. JPMorgan Chase & Co. boosted their price objective on Mercury Systems from $56.00 to $68.00 and gave the stock a "neutral" rating in a report on Tuesday, August 12th. Finally, Raymond James Financial raised Mercury Systems from an "outperform" rating to a "strong-buy" rating and boosted their price objective for the stock from $55.00 to $80.00 in a report on Tuesday, August 12th. Two analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $70.67.

Mercury Systems Stock Up 4.9%

Shares of NASDAQ MRCY opened at $81.18 on Thursday. The stock has a market cap of $4.87 billion, a PE ratio of -123.00, a PEG ratio of 3.22 and a beta of 0.81. The business has a fifty day moving average of $66.09 and a two-hundred day moving average of $54.69. Mercury Systems has a 52-week low of $32.32 and a 52-week high of $81.35. The company has a debt-to-equity ratio of 0.40, a quick ratio of 2.41 and a current ratio of 3.52.

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 analysts' consensus estimates 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 company had revenue of $273.11 million during the quarter, compared to analysts' expectations of $244.56 million. During the same period last year, the business earned $0.23 earnings per share. The business's revenue was up 9.9% on a year-over-year basis. As a group, equities research analysts expect that Mercury Systems will post -0.08 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related 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 completion of the transaction, the chief executive officer directly 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Stuart Kupinsky sold 1,220 shares of the business's stock in a transaction that occurred on Tuesday, August 19th. The shares were sold at an average price of $64.46, for a total value of $78,641.20. Following the completion of the transaction, the executive vice president owned 70,297 shares of the company's stock, valued at $4,531,344.62. This represents a 1.71% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 848,980 shares of company stock worth $55,529,247 in the last three months. 1.40% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Mercury Systems

Large investors have recently bought and sold shares of the company. Osaic Holdings Inc. boosted its position in 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 acquiring an additional 208 shares during the last quarter. Quaker Wealth Management LLC boosted its position in 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 acquiring an additional 1,288 shares during the last quarter. Federated Hermes Inc. acquired a new position in Mercury Systems during the 2nd quarter worth approximately $43,000. EverSource Wealth Advisors LLC boosted its position in Mercury Systems by 33.7% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 929 shares of the technology company's stock worth $50,000 after acquiring an additional 234 shares during the last quarter. Finally, GAMMA Investing LLC boosted its position in 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 acquiring an additional 395 shares during the last quarter. Institutional investors and hedge funds own 95.99% of the company's stock.

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.

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