Mercury Systems (NASDAQ:MRCY) Upgraded at Wall Street Zen

Key Points

• Mercury Systems has been upgraded to a "Buy" rating by Wall Street Zen, reflecting a positive outlook from analysts following significant recent stock performance.
• Analysts, including Raymond James and Zacks, raised their price targets for Mercury Systems, with the average target now positioned at $60.71.
• The company reported a 9.9% year-over-year increase in revenue, achieving $273.11 million in the latest quarter, surpassing consensus estimates.

Mercury Systems (NASDAQ:MRCY - Get Free Report) was upgraded by equities researchers at Wall Street Zen from a "hold" rating to a "buy" rating in a research note issued to investors on Saturday.

MRCY has been the subject of a number of other research reports. JPMorgan Chase & Co. upped their target price on shares of Mercury Systems from $56.00 to $68.00 and gave the stock a "neutral" rating in a research report on Tuesday, August 12th. Zacks Research upgraded shares of Mercury Systems from a "strong sell" rating to a "strong-buy" rating in a research report on Thursday, August 21st. Robert W. Baird upped their target price on shares of Mercury Systems from $58.00 to $70.00 and gave the stock an "outperform" rating in a research report on Tuesday, August 12th. Truist Financial upped their target price on shares of Mercury Systems from $60.00 to $71.00 and gave the stock a "buy" rating in a research report on Tuesday, August 12th. Finally, Raymond James Financial upgraded shares of Mercury Systems from an "outperform" rating to a "strong-buy" rating and upped their target price for the stock from $55.00 to $80.00 in a research report on Tuesday, August 12th. Three research analysts have rated the stock with a Strong Buy rating, two have assigned a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $60.71.

Mercury Systems Price Performance

Shares of MRCY traded up $3.28 during mid-day trading on Friday, reaching $77.10. The stock had a trading volume of 617,709 shares, compared to its average volume of 505,172. The firm has a market cap of $4.63 billion, a price-to-earnings ratio of -116.82, a PEG ratio of 3.07 and a beta of 0.77. Mercury Systems has a 12 month low of $32.32 and a 12 month high of $77.41. The business has a fifty day moving average of $61.67 and a 200 day moving average of $52.68. 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 earnings results on Monday, August 11th. The technology company reported $0.47 earnings per share 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 quarter in the prior year, the business earned $0.23 earnings per share. Mercury Systems'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 year.

Insiders Place Their Bets

In other news, EVP Steven Ratner sold 7,000 shares of the stock in a transaction on Wednesday, August 20th. The shares were sold at an average price of $63.76, for a total value of $446,320.00. Following the sale, the executive vice president owned 33,801 shares of the company's stock, valued at approximately $2,155,151.76. This represents a 17.16% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO William L. Ballhaus sold 13,050 shares of the stock in a transaction on Tuesday, August 19th. The shares were sold at an average price of $64.46, for a total transaction of $841,203.00. Following the completion of the sale, the chief executive officer directly owned 374,976 shares in the company, valued at approximately $24,170,952.96. This represents a 3.36% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 848,980 shares of company stock valued at $55,529,247. 1.40% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Mercury Systems

A number of institutional investors and hedge funds have recently added to or reduced their stakes in MRCY. Osaic Holdings Inc. lifted its holdings in Mercury Systems by 53.2% during the 2nd quarter. Osaic Holdings Inc. now owns 599 shares of the technology company's stock valued at $32,000 after buying an additional 208 shares in the last quarter. Neo Ivy Capital Management bought a new stake in Mercury Systems during the 4th quarter valued at about $33,000. Quaker Wealth Management LLC lifted its holdings in Mercury Systems by 200.0% during the 2nd quarter. Quaker Wealth Management LLC now owns 644 shares of the technology company's stock valued at $35,000 after buying an additional 1,288 shares in the last quarter. Federated Hermes Inc. bought a new stake in Mercury Systems during the 2nd quarter valued at about $43,000. Finally, GAMMA Investing LLC increased 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 valued at $46,000 after purchasing an additional 395 shares during the period. Institutional investors 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.