Mercury Systems (NASDAQ:MRCY) Upgraded to Strong-Buy at Piper Sandler

Key Points

• Piper Sandler upgraded Mercury Systems to “strong buy,” joining Truist Financial in issuing the same rating. Overall analyst sentiment is “Moderate Buy,” with an average price target of $102.
• Mercury Systems shares opened at $111.64, with a $6.70 billion market capitalization and a 52-week trading range of $62.78 to $128.45.
• Institutional investors own approximately 95.99% of the company, while director Howard L. Lance recently sold 9,250 shares for about $922,780.

Mercury Systems (NASDAQ:MRCY - Get Free Report) was upgraded by stock analysts at Piper Sandler to a "strong-buy" rating in a research report issued to clients and investors on Wednesday,Zacks.com reports.

MRCY has been the subject of a number of other research reports. Truist Financial upgraded shares of Mercury Systems to a "strong-buy" rating in a report on Friday, May 1st. JPMorgan Chase & Co. increased their price objective on Mercury Systems from $99.00 to $101.00 and gave the stock a "neutral" rating in a report on Monday, July 13th. Jefferies Financial Group reissued a "hold" rating and set a $115.00 price objective on shares of Mercury Systems in a research report on Friday, July 10th. Canaccord Genuity Group boosted their target price on Mercury Systems from $102.00 to $106.00 and gave the company a "buy" rating in a research note on Thursday, May 7th. Finally, Weiss Ratings reiterated a "sell (d-)" rating on shares of Mercury Systems in a report on Friday, July 17th. Three investment analysts have rated the stock with a Strong Buy rating, two have given a Buy rating, four have given a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $102.00.

Mercury Systems Price Performance

NASDAQ MRCY opened at $111.64 on Wednesday. The company has a debt-to-equity ratio of 0.40, a current ratio of 3.19 and a quick ratio of 2.15. The firm has a market capitalization of $6.70 billion, a price-to-earnings ratio of -465.17 and a beta of 0.95. The company has a 50 day simple moving average of $108.92 and a 200-day simple moving average of $94.57. Mercury Systems has a 52-week low of $62.78 and a 52-week high of $128.45.

Insider Activity

In related news, Director Howard L. Lance sold 9,250 shares of Mercury Systems stock in a transaction on Tuesday, May 26th. The shares were sold at an average price of $99.76, for a total value of $922,780.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 1.40% of the company's stock.

Institutional Trading of Mercury Systems

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Maryland State Retirement & Pension System raised its holdings in Mercury Systems by 1.8% during the 4th quarter. Maryland State Retirement & Pension System now owns 7,714 shares of the technology company's stock worth $563,000 after purchasing an additional 134 shares during the last quarter. GAMMA Investing LLC lifted its position in Mercury Systems by 8.5% during the 2nd quarter. GAMMA Investing LLC now owns 1,984 shares of the technology company's stock valued at $243,000 after purchasing an additional 155 shares during the period. Oregon Public Employees Retirement Fund boosted its stake in shares of Mercury Systems by 1.6% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 12,058 shares of the technology company's stock valued at $880,000 after purchasing an additional 187 shares during the last quarter. Arizona State Retirement System boosted its stake in shares of Mercury Systems by 1.3% in the 4th quarter. Arizona State Retirement System now owns 15,211 shares of the technology company's stock valued at $1,111,000 after purchasing an additional 195 shares during the last quarter. Finally, Focus Partners Wealth grew its position in shares of Mercury Systems by 3.0% during the 3rd quarter. Focus Partners Wealth now owns 6,929 shares of the technology company's stock worth $536,000 after buying an additional 199 shares during the period. Institutional investors and hedge funds own 95.99% of the company's stock.

About Mercury Systems

Mercury Systems, Inc NASDAQ: MRCY is a technology company that designs, manufactures and markets secure processing subsystems for aerospace and defense applications. The company's products are built to address the stringent security, safety and reliability requirements of mission-critical programs, with a focus on radar, electronic warfare, intelligence and other sensor and processing functions. Mercury's offerings encompass rugged embedded computing modules, high-performance radio frequency (RF) and microwave components, digital signal processing subsystems and secure networking solutions.

Since its origins in advanced signal processing, Mercury Systems has expanded its capabilities through a combination of internal development and targeted acquisitions.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source