Robert W. Baird Forecasts Strong Price Appreciation for Mercury Systems (NASDAQ:MRCY) Stock

Key Points

• Robert W. Baird has increased the price target for Mercury Systems stock from $58.00 to $70.00, indicating a potential upside of 30.65% from its current price.
• Mercury Systems reported earnings of $0.47 per share for the last quarter, significantly exceeding the consensus estimate of $0.21, with revenues of $273.11 million.
• Analysts show a mixed sentiment towards the stock, with a current average rating of "Moderate Buy" and an average price target of $55.50.

Mercury Systems (NASDAQ:MRCY - Get Free Report) had its price target boosted by analysts at Robert W. Baird from $58.00 to $70.00 in a research note issued to investors on Tuesday,Benzinga reports. The firm presently has an "outperform" rating on the technology company's stock. Robert W. Baird's target price indicates a potential upside of 3.96% from the company's previous close.

Several other research firms have also weighed in on MRCY. Truist Financial boosted their target price on shares of Mercury Systems from $56.00 to $60.00 and gave the company a "buy" rating in a report on Monday, June 2nd. Royal Bank Of Canada boosted their target price on shares of Mercury Systems from $50.00 to $55.00 and gave the company a "sector perform" rating in a report on Thursday, July 3rd. The Goldman Sachs Group upped their price objective on shares of Mercury Systems from $30.00 to $33.00 and gave the stock a "sell" rating in a report on Monday, May 12th. Finally, JPMorgan Chase & Co. upped their price objective on shares of Mercury Systems from $48.00 to $56.00 and gave the stock a "neutral" rating in a 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 two have given a strong buy rating to the company's stock. According to data from MarketBeat, Mercury Systems presently has a consensus rating of "Moderate Buy" and an average price target of $59.13.

Mercury Systems Price Performance

NASDAQ MRCY traded down $1.06 during trading hours on Tuesday, hitting $67.34. 104,266 shares of the company's stock traded hands, compared to its average volume of 611,042. Mercury Systems has a 52-week low of $32.32 and a 52-week high of $69.95. The company has a market capitalization of $4.03 billion, a PE ratio of -101.97, a PEG ratio of 3.19 and a beta of 0.72. The company has a debt-to-equity ratio of 0.40, a current ratio of 3.52 and a quick ratio of 2.25. The firm's 50-day moving average is $52.69 and its 200-day moving average is $48.17.

Mercury Systems (NASDAQ:MRCY - Get Free Report) last posted its earnings results on Monday, August 11th. The technology company reported $0.47 earnings per share for the quarter, beating the consensus estimate of $0.21 by $0.26. The company had revenue of $273.11 million for the quarter, compared to analyst estimates of $244.56 million. Mercury Systems had a negative net margin of 4.16% and a positive return on equity of 0.58%. Mercury Systems's revenue was up 9.9% on a year-over-year basis. During the same period in the previous year, the business posted $0.23 EPS. Equities analysts forecast that Mercury Systems will post -0.08 EPS for the current fiscal year.

Insider Transactions at Mercury Systems

In other Mercury Systems news, EVP Steven Ratner sold 1,839 shares of the stock in a transaction that occurred 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 sale, the executive vice president directly 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 document filed with the SEC, which is available at this link. 1.60% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Mercury Systems

A number of large investors have recently modified their holdings of MRCY. LPL Financial LLC increased its position in shares of Mercury Systems by 11.4% in the 4th quarter. LPL Financial LLC now owns 52,746 shares of the technology company's stock valued at $2,261,000 after purchasing an additional 5,388 shares during the last quarter. JPMorgan Chase & Co. increased its position in shares of Mercury Systems by 217.2% in the 4th quarter. JPMorgan Chase & Co. now owns 146,624 shares of the technology company's stock valued at $6,158,000 after purchasing an additional 100,404 shares during the last quarter. Wells Fargo & Company MN increased its position in shares of Mercury Systems by 12.7% in the 4th quarter. Wells Fargo & Company MN now owns 44,685 shares of the technology company's stock valued at $1,877,000 after purchasing an additional 5,038 shares during the last quarter. Russell Investments Group Ltd. increased its position in shares of Mercury Systems by 156,480.0% in the 4th quarter. Russell Investments Group Ltd. now owns 15,658 shares of the technology company's stock valued at $658,000 after purchasing an additional 15,648 shares during the last quarter. Finally, Bank of Montreal Can increased its position in shares of Mercury Systems by 5.0% in the 4th quarter. Bank of Montreal Can now owns 10,984 shares of the technology company's stock valued at $461,000 after purchasing an additional 519 shares during the last quarter. 95.99% of the stock is owned by hedge funds and other institutional investors.

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.