Mercury Systems (NASDAQ:MRCY) Hits New 52-Week High - Here's What Happened

Key Points

• Mercury Systems shares have reached a new 52-week high at $55.40, closing at $54.07 on a trading volume of 79,907 shares.
• Analysts have mixed opinions on the stock, with price targets ranging from $33.00 to $60.00 and an average rating of "Hold" with a price target of $50.29.
• The company reported a 1.5% increase in revenue year-over-year, totaling $211.36 million, while meeting earnings expectations with an EPS of $0.06.

Mercury Systems Inc (NASDAQ:MRCY - Get Free Report) shares reached a new 52-week high on Tuesday . The company traded as high as $55.40 and last traded at $54.07, with a volume of 79907 shares trading hands. The stock had previously closed at $53.56.

Wall Street Analysts Forecast Growth

MRCY has been the topic of several analyst reports. Truist Financial raised their target price on Mercury Systems from $56.00 to $60.00 and gave the company a "buy" rating in a research report on Monday, June 2nd. Royal Bank Of Canada lifted their price objective on shares of Mercury Systems from $50.00 to $55.00 and gave the company a "sector perform" rating in a research note on Thursday, July 3rd. JPMorgan Chase & Co. raised their target price on shares of Mercury Systems from $48.00 to $56.00 and gave the company a "neutral" rating in a research note on Monday, June 16th. Finally, The Goldman Sachs Group raised their price objective on shares of Mercury Systems from $30.00 to $33.00 and gave the company a "sell" rating in a research note on Monday, May 12th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, three have given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, Mercury Systems presently has a consensus rating of "Hold" and a consensus price target of $50.29.

Mercury Systems Stock Performance

The firm's 50 day simple moving average is $51.66 and its 200-day simple moving average is $47.57. The company has a market capitalization of $3.11 billion, a price-to-earnings ratio of -46.45, a P/E/G ratio of 2.54 and a beta of 0.72. The company has a debt-to-equity ratio of 0.41, a quick ratio of 2.25 and a current ratio of 3.44.

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

Insider Transactions at Mercury Systems

In other news, EVP Steven Ratner sold 1,839 shares of the stock in a transaction dated Monday, June 16th. The stock was sold at an average price of $53.48, for a total transaction of $98,349.72. Following the transaction, the executive vice president owned 35,174 shares of the company's stock, valued at approximately $1,881,105.52. This represents a 4.97% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 1.60% of the stock is owned by company insiders.

Institutional Trading of Mercury Systems

Several institutional investors have recently modified their holdings of MRCY. Neo Ivy Capital Management bought a new position in shares of Mercury Systems during the 4th quarter worth about $33,000. Quaker Wealth Management LLC boosted its holdings in Mercury Systems by 200.0% during the second quarter. Quaker Wealth Management LLC now owns 644 shares of the technology company's stock valued at $35,000 after purchasing an additional 1,288 shares in the last quarter. GAMMA Investing LLC grew its stake in shares of Mercury Systems by 59.6% in the 1st quarter. GAMMA Investing LLC now owns 1,058 shares of the technology company's stock valued at $46,000 after purchasing an additional 395 shares during the period. Fifth Third Bancorp raised its holdings in shares of Mercury Systems by 53.8% in the 1st quarter. Fifth Third Bancorp now owns 1,290 shares of the technology company's stock worth $56,000 after buying an additional 451 shares in the last quarter. Finally, Mark Sheptoff Financial Planning LLC bought a new position in shares of Mercury Systems during the 2nd quarter worth approximately $59,000. 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.