Mercury Systems (NASDAQ:MRCY) Given New $60.00 Price Target at Truist Financial

Mercury Systems (NASDAQ:MRCY - Get Free Report) had its target price raised by Truist Financial from $56.00 to $60.00 in a research report issued to clients and investors on Monday,Benzinga reports. The brokerage currently has a "buy" rating on the technology company's stock. Truist Financial's target price indicates a potential upside of 18.02% from the stock's current price.

Several other brokerages have also weighed in on MRCY. Baird R W raised Mercury Systems from a "hold" rating to a "strong-buy" rating in a report on Wednesday, February 5th. The Goldman Sachs Group upped their price target on shares of Mercury Systems from $30.00 to $33.00 and gave the company a "sell" rating in a report on Monday, May 12th. Robert W. Baird raised shares of Mercury Systems from a "neutral" rating to an "outperform" rating and raised their price objective for the stock from $37.00 to $58.00 in a report on Wednesday, February 5th. Finally, Royal Bank of Canada raised their price objective on shares of Mercury Systems from $48.00 to $50.00 and gave the company a "sector perform" rating in a research note on Wednesday, May 7th. One analyst has rated the stock with a sell rating, four have assigned a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $47.29.

Mercury Systems Stock Performance

Shares of NASDAQ MRCY traded up $0.48 during trading hours on Monday, reaching $50.84. The stock had a trading volume of 733,846 shares, compared to its average volume of 583,235. Mercury Systems has a fifty-two week low of $26.48 and a fifty-two week high of $52.25. The firm has a market cap of $3.04 billion, a price-to-earnings ratio of -32.59 and a beta of 0.70. The firm has a 50-day moving average of $46.93 and a 200-day moving average of $44.01. The company has a current ratio of 3.62, a quick ratio of 2.36 and a debt-to-equity ratio of 0.41.

Mercury Systems (NASDAQ:MRCY - Get Free Report) last issued its earnings results on Tuesday, May 6th. The technology company reported $0.06 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $0.06. The company had revenue of $211.36 million during the quarter, compared to analysts' expectations of $204.25 million. Mercury Systems had a negative net margin of 10.23% and a negative return on equity of 2.03%. The firm's quarterly revenue was up 1.5% compared to the same quarter last year. During the same period last year, the company posted ($0.26) earnings per share. Equities research analysts predict that Mercury Systems will post -0.08 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Jana Partners Management, Lp sold 88,152 shares of the stock in a transaction on Thursday, May 8th. The shares were sold at an average price of $46.27, for a total transaction of $4,078,793.04. Following the transaction, the director now owns 6,861,313 shares of the company's stock, valued at approximately $317,472,952.51. This trade represents a 1.27% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Steven Ratner sold 3,892 shares of the company's stock in a transaction on Thursday, May 8th. The shares were sold at an average price of $47.70, for a total transaction of $185,648.40. Following the sale, the executive vice president now owns 56,187 shares of the company's stock, valued at $2,680,119.90. This represents a 6.48% decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.60% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the business. Conestoga Capital Advisors LLC boosted its holdings in shares of Mercury Systems by 55.9% during the 4th quarter. Conestoga Capital Advisors LLC now owns 2,072,817 shares of the technology company's stock valued at $87,058,000 after acquiring an additional 743,552 shares during the last quarter. Millennium Management LLC raised its position in shares of Mercury Systems by 196.1% during the 4th quarter. Millennium Management LLC now owns 1,023,508 shares of the technology company's stock valued at $42,987,000 after buying an additional 677,894 shares in the last quarter. MetLife Investment Management LLC raised its position in Mercury Systems by 1,479.5% in the 1st 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 period. Fisher Asset Management LLC purchased a new stake in Mercury Systems in the 4th quarter worth about $16,601,000. Finally, First Trust Advisors LP increased its position in shares of 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 acquiring an additional 333,109 shares during the period. 95.99% of the stock is currently owned by 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.