Zacks Investment Research upgraded shares of Mercury Systems (NASDAQ:MRCY) from a hold rating to a strong-buy rating in a report published on Wednesday morning. The brokerage currently has $60.00 price objective on the technology company’s stock.
According to Zacks, “Mercury Systems, Inc. is a commercial provider of secure sensor and mission processing subsystems for defense and intelligence programs. The Company’s products and solutions are deployed in more than 300 programs with over 25 different defense prime contractors. “
Several other analysts have also recently weighed in on the stock. Noble Financial reaffirmed a hold rating on shares of Mercury Systems in a report on Thursday, October 26th. SunTrust Banks reissued a buy rating on shares of Mercury Systems in a report on Friday, October 20th. Robert W. Baird raised their price objective on shares of Mercury Systems from $48.00 to $59.00 and gave the stock an outperform rating in a report on Wednesday, October 25th. Finally, BidaskClub cut shares of Mercury Systems from a hold rating to a sell rating in a report on Tuesday, December 12th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and five have issued a buy rating to the company’s stock. The stock presently has an average rating of Hold and an average price target of $51.83.
Mercury Systems (NASDAQ:MRCY) last issued its earnings results on Tuesday, October 24th. The technology company reported $0.37 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.26 by $0.11. The firm had revenue of $106.10 million for the quarter, compared to analysts’ expectations of $105.18 million. Mercury Systems had a net margin of 9.14% and a return on equity of 6.51%. The firm’s revenue was up 21.1% compared to the same quarter last year. During the same quarter last year, the company earned $0.22 earnings per share. research analysts anticipate that Mercury Systems will post 1.09 earnings per share for the current fiscal year.
In other Mercury Systems news, Director Vincent Vitto sold 8,500 shares of the firm’s stock in a transaction on Monday, December 4th. The stock was sold at an average price of $52.04, for a total value of $442,340.00. Following the completion of the sale, the director now owns 79,539 shares of the company’s stock, valued at $4,139,209.56. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, COO Didier M. C. Thibaud sold 3,500 shares of the firm’s stock in a transaction on Wednesday, November 15th. The shares were sold at an average price of $49.52, for a total value of $173,320.00. Following the completion of the sale, the chief operating officer now directly owns 379,940 shares of the company’s stock, valued at approximately $18,814,628.80. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 58,800 shares of company stock worth $2,994,595. Insiders own 3.50% of the company’s stock.
A number of institutional investors have recently added to or reduced their stakes in MRCY. Bank of Montreal Can raised its stake in shares of Mercury Systems by 29.2% during the 2nd quarter. Bank of Montreal Can now owns 2,459 shares of the technology company’s stock worth $104,000 after buying an additional 556 shares during the last quarter. Advisor Group Inc. raised its stake in shares of Mercury Systems by 97.8% during the 3rd quarter. Advisor Group Inc. now owns 2,556 shares of the technology company’s stock worth $132,000 after buying an additional 1,264 shares during the last quarter. Ameritas Investment Partners Inc. raised its stake in shares of Mercury Systems by 5.0% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 4,114 shares of the technology company’s stock worth $173,000 after buying an additional 195 shares during the last quarter. Shelton Capital Management acquired a new position in shares of Mercury Systems during the 2nd quarter worth $200,000. Finally, Flinton Capital Management LLC raised its stake in shares of Mercury Systems by 72.3% during the 2nd quarter. Flinton Capital Management LLC now owns 4,862 shares of the technology company’s stock worth $205,000 after buying an additional 2,040 shares during the last quarter. 96.28% of the stock is owned by institutional investors.
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Mercury Systems Company Profile
Mercury Systems, Inc is a commercial provider of secure processing subsystems designed and made in the United States. The Company’s solutions support a range of defense and intelligence programs. Its technologies include embedded processing modules and subsystems, radio frequency (RF) and microwave multi-function assemblies, as well as subsystems, and RF and microwave components.
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