Royal Bank Of Canada Forecasts Strong Price Appreciation for Mercury Systems (NASDAQ:MRCY) Stock

Mercury Systems (NASDAQ:MRCY - Free Report) had its price target lifted by Royal Bank Of Canada from $50.00 to $55.00 in a research note released on Thursday morning,Benzinga reports. They currently have a sector perform rating on the technology company's stock.

Several other equities research analysts also recently issued reports on MRCY. Truist Financial raised their price target on Mercury Systems from $56.00 to $60.00 and gave the company a "buy" rating in a research report on Monday, June 2nd. The Goldman Sachs Group increased their price objective on Mercury Systems from $30.00 to $33.00 and gave the company a "sell" rating in a research report on Monday, May 12th. Finally, JPMorgan Chase & Co. boosted their target price on shares of Mercury Systems from $48.00 to $56.00 and gave the stock a "neutral" rating in a research report on Monday, June 16th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, Mercury Systems currently has an average rating of "Hold" and an average target price of $50.29.

Mercury Systems Stock Performance

Shares of MRCY stock traded up $0.82 during trading on Thursday, reaching $51.32. The company had a trading volume of 290,107 shares, compared to its average volume of 566,482. The firm's 50 day simple moving average is $49.80 and its two-hundred day simple moving average is $45.88. Mercury Systems has a one year low of $28.78 and a one year high of $54.32. The company has a debt-to-equity ratio of 0.41, a current ratio of 3.44 and a quick ratio of 2.25. The company has a market capitalization of $3.07 billion, a PE ratio of -45.82, a PEG ratio of 10.44 and a beta of 0.71.

Mercury Systems (NASDAQ:MRCY - Get Free Report) last released its quarterly earnings results on Tuesday, May 6th. The technology company reported $0.06 EPS for the quarter, meeting analysts' consensus estimates of $0.06. The company had revenue of $211.36 million for the quarter, compared to analyst estimates of $204.25 million. Mercury Systems had a negative net margin of 7.33% and a negative return on equity of 0.77%. The company's quarterly revenue was up 1.5% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.26) earnings per share. Sell-side analysts forecast that Mercury Systems will post -0.08 earnings per share for the current year.

Insider Buying and Selling

In other news, EVP Steven Ratner sold 1,839 shares of the stock in a transaction on Monday, June 16th. The shares were sold at an average price of $53.48, for a total value of $98,349.72. Following the completion of the transaction, the executive vice president owned 35,174 shares in the company, valued at approximately $1,881,105.52. This represents a 4.97% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Jana Partners Management, Lp sold 88,152 shares of Mercury Systems stock in a transaction dated Thursday, May 8th. The shares were sold at an average price of $46.27, for a total transaction of $4,078,793.04. Following the sale, the director owned 6,861,313 shares in the company, valued at approximately $317,472,952.51. This trade represents a 1.27% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 93,883 shares of company stock worth $4,362,791. 1.60% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its stake in shares of Mercury Systems by 0.8% in the 4th quarter. Vanguard Group Inc. now owns 5,550,610 shares of the technology company's stock valued at $233,126,000 after purchasing an additional 41,324 shares during the period. Conestoga Capital Advisors LLC grew its position in Mercury Systems by 8.9% in the first quarter. Conestoga Capital Advisors LLC now owns 2,258,186 shares of the technology company's stock valued at $97,305,000 after acquiring an additional 185,369 shares during the period. Dimensional Fund Advisors LP raised its stake in Mercury Systems by 2.5% during the fourth quarter. Dimensional Fund Advisors LP now owns 2,202,124 shares of the technology company's stock worth $92,490,000 after acquiring an additional 52,725 shares in the last quarter. Victory Capital Management Inc. lifted its holdings in shares of Mercury Systems by 16.7% during the fourth quarter. Victory Capital Management Inc. now owns 2,060,131 shares of the technology company's stock valued at $86,526,000 after acquiring an additional 294,747 shares during the period. Finally, Millennium Management LLC boosted its stake in shares of Mercury Systems by 196.1% in the 4th quarter. Millennium Management LLC now owns 1,023,508 shares of the technology company's stock valued at $42,987,000 after purchasing an additional 677,894 shares in the last quarter. Institutional investors and hedge funds own 95.99% of the company's stock.

Mercury Systems Company Profile

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.