SunTrust Banks Reaffirms Buy Rating for Mercury Systems (MRCY)

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.

Mercury Systems (NASDAQ:MRCY) last posted its earnings results on Tuesday, October 24th. The technology company reported $0.37 earnings per share for the quarter, beating analysts’ consensus estimates of $0.26 by $0.11. Mercury Systems had a return on equity of 6.51% and a net margin of 9.14%. The company had revenue of $106.10 million for the quarter, compared to the consensus estimate of $105.18 million. During the same quarter in the prior year, the company earned $0.22 earnings per share. Mercury Systems’s revenue was up 21.1% on a year-over-year basis. equities analysts anticipate that Mercury Systems will post 1.09 earnings per share for the current fiscal year.

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.

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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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