Mercury Systems (NASDAQ:MRCY)‘s stock had its “buy” rating reaffirmed by analysts at SunTrust Banks in a research note issued on Tuesday. They presently have a $61.00 target price on the technology company’s stock. SunTrust Banks’ target price indicates a potential upside of 18.40% from the company’s previous close. SunTrust Banks also issued estimates for Mercury Systems’ FY2018 earnings at $1.28 EPS and FY2019 earnings at $1.68 EPS.
Several other research firms also recently commented on MRCY. Zacks Investment Research downgraded Mercury Systems from a “hold” rating to a “sell” rating in a research note on Thursday, September 14th. Noble Financial reaffirmed a “hold” rating on shares of Mercury Systems in a research note on Thursday, October 26th. Robert W. Baird raised their price objective on Mercury Systems from $48.00 to $59.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 25th. Finally, BidaskClub downgraded Mercury Systems from a “hold” rating to a “sell” rating in a research note on Wednesday, December 27th. One investment analyst has rated the stock with a sell rating, two have given a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Mercury Systems has a consensus rating of “Buy” and a consensus target price of $53.33.
Mercury Systems (MRCY) opened at $51.52 on Tuesday. Mercury Systems has a 1-year low of $29.43 and a 1-year high of $55.00. The firm has a market capitalization of $2,480.00, a PE ratio of 59.91, a price-to-earnings-growth ratio of 4.22 and a beta of 0.23.
In related news, insider Mark Aslett sold 9,600 shares of the stock in a transaction dated Thursday, November 16th. The stock was sold at an average price of $50.11, for a total transaction of $481,056.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, COO Didier M. C. Thibaud sold 3,500 shares of the stock in a transaction dated Wednesday, November 1st. The stock was sold at an average price of $50.34, for a total value of $176,190.00. Following the sale, the chief operating officer now owns 383,440 shares of the company’s stock, valued at approximately $19,302,369.60. The disclosure for this sale can be found here. Insiders sold 62,300 shares of company stock worth $3,171,165 in the last ninety days. Corporate insiders own 3.50% of the company’s stock.
Several large investors have recently added to or reduced their stakes in MRCY. Wells Fargo & Company MN grew its position in shares of Mercury Systems by 323.5% during the second quarter. Wells Fargo & Company MN now owns 2,230,421 shares of the technology company’s stock worth $93,878,000 after purchasing an additional 1,703,774 shares in the last quarter. Westfield Capital Management Co. LP purchased a new stake in shares of Mercury Systems during the third quarter worth about $14,576,000. State Street Corp grew its position in shares of Mercury Systems by 13.2% during the second quarter. State Street Corp now owns 1,684,565 shares of the technology company’s stock worth $70,906,000 after purchasing an additional 196,075 shares in the last quarter. Nationwide Fund Advisors grew its position in shares of Mercury Systems by 189.8% during the second quarter. Nationwide Fund Advisors now owns 280,946 shares of the technology company’s stock worth $11,825,000 after purchasing an additional 183,994 shares in the last quarter. Finally, Vanguard Group Inc. grew its position in shares of Mercury Systems by 4.6% during the second quarter. Vanguard Group Inc. now owns 4,118,060 shares of the technology company’s stock worth $173,329,000 after purchasing an additional 180,028 shares in the last quarter. Hedge funds and other institutional investors own 96.28% of the company’s stock.
About Mercury Systems
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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