Mercury Systems (NASDAQ:MRCY) Upgraded to "Strong-Buy" at Raymond James Financial

Key Points

• Mercury Systems was upgraded by Raymond James Financial from an "outperform" to a "strong-buy" rating, with a new price target of $80.00, indicating a potential upside of 49.31% from its current price.
• The company reported $0.47 earnings per share for its last quarter, exceeding the consensus estimate by $0.26, and achieved 9.9% revenue growth year-over-year.
• Analyst ratings for Mercury Systems include one "sell," four "hold," three "buy," and two "strong buy," reflecting a general consensus rating of "Moderate Buy."

Mercury Systems (NASDAQ:MRCY - Get Free Report) was upgraded by equities research analysts at Raymond James Financial from an "outperform" rating to a "strong-buy" rating in a research report issued to clients and investors on Tuesday, MarketBeat reports. The brokerage presently has a $80.00 price target on the technology company's stock, up from their prior price target of $55.00. Raymond James Financial's price target would suggest a potential upside of 18.81% from the company's previous close.

Several other equities analysts also recently commented on MRCY. Truist Financial boosted their target price on shares of Mercury Systems from $56.00 to $60.00 and gave the stock a "buy" rating in a report on Monday, June 2nd. Robert W. Baird boosted their price objective on shares of Mercury Systems from $58.00 to $70.00 and gave the company an "outperform" rating in a research report on Tuesday. Royal Bank Of Canada boosted 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 report on Thursday, July 3rd. The Goldman Sachs Group boosted their target price 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. Finally, JPMorgan Chase & Co. boosted 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. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, three have given a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat.com, Mercury Systems presently has an average rating of "Moderate Buy" and an average target price of $59.13.

Mercury Systems Stock Down 1.5%

NASDAQ:MRCY traded down $1.06 on Tuesday, reaching $67.34. 104,266 shares of the stock traded hands, compared to its average volume of 611,042. The company has a market capitalization of $4.03 billion, a price-to-earnings ratio of -101.97, a PEG ratio of 3.19 and a beta of 0.72. The company has a current ratio of 3.52, a quick ratio of 2.25 and a debt-to-equity ratio of 0.40. Mercury Systems has a 12 month low of $32.32 and a 12 month high of $69.95. The company's fifty day simple moving average is $52.69 and its 200 day simple moving average is $48.17.

Mercury Systems (NASDAQ:MRCY - Get Free Report) last announced its quarterly earnings results on Monday, August 11th. The technology company reported $0.47 EPS for the quarter, topping analysts' consensus estimates of $0.21 by $0.26. Mercury Systems had a negative net margin of 4.16% and a positive return on equity of 0.58%. The firm 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 business posted $0.23 earnings per share. The business's revenue for the quarter was up 9.9% on a year-over-year basis. Equities analysts predict that Mercury Systems will post -0.08 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, EVP Steven Ratner sold 1,839 shares of Mercury Systems stock in a transaction on 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 in the company, valued at $1,881,105.52. The trade was a 4.97% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 1.60% of the company's stock.

Institutional Trading of Mercury Systems

Several institutional investors and hedge funds have recently bought and sold shares of MRCY. Loomis Sayles & Co. L P grew its position in shares of Mercury Systems by 321.7% during the second quarter. Loomis Sayles & Co. L P now owns 992,610 shares of the technology company's stock worth $53,462,000 after buying an additional 757,216 shares in the last quarter. Millennium Management LLC lifted its stake in Mercury Systems by 196.1% during the fourth quarter. Millennium Management LLC now owns 1,023,508 shares of the technology company's stock worth $42,987,000 after purchasing an additional 677,894 shares during the last quarter. MetLife Investment Management LLC lifted its stake in Mercury Systems by 1,479.5% during the first quarter. MetLife Investment Management LLC now owns 492,638 shares of the technology company's stock worth $21,228,000 after purchasing an additional 461,449 shares during the last quarter. Emerald Advisers LLC purchased a new stake in Mercury Systems during the second quarter worth approximately $24,599,000. Finally, First Trust Advisors LP lifted its stake in Mercury Systems by 50.8% during the fourth quarter. First Trust Advisors LP now owns 988,936 shares of the technology company's stock worth $41,535,000 after purchasing an additional 333,109 shares during the last quarter. 95.99% of the stock is currently owned by hedge funds and other institutional investors.

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.