Analysts Set Mercury Systems Inc (MRCY) Target Price at $52.40

Mercury Systems Inc (NASDAQ:MRCY) has been given an average recommendation of “Hold” by the nine analysts that are covering the stock, Marketbeat reports. One analyst has rated the stock with a sell recommendation, four have given a hold recommendation and four have given a buy recommendation to the company. The average twelve-month target price among brokerages that have updated their coverage on the stock in the last year is $52.40.

Several research firms have recently issued reports on MRCY. BidaskClub upgraded shares of Mercury Systems from a “buy” rating to a “strong-buy” rating in a report on Saturday, September 29th. Canaccord Genuity began coverage on shares of Mercury Systems in a report on Thursday, October 4th. They set a “buy” rating and a $64.00 price objective on the stock. ValuEngine upgraded shares of Mercury Systems from a “hold” rating to a “buy” rating in a report on Wednesday, November 7th. Zacks Investment Research upgraded shares of Mercury Systems from a “hold” rating to a “buy” rating and set a $54.00 price objective on the stock in a report on Tuesday, November 6th. Finally, Drexel Hamilton set a $58.00 price objective on shares of Mercury Systems and gave the company a “buy” rating in a report on Wednesday, October 31st.

In other Mercury Systems news, insider Mark Aslett sold 10,000 shares of the company’s stock in a transaction that occurred on Tuesday, November 20th. The stock was sold at an average price of $47.28, for a total value of $472,800.00. Following the sale, the insider now owns 397,440 shares in the company, valued at approximately $18,790,963.20. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In the last 90 days, insiders sold 30,000 shares of company stock worth $1,414,900. Insiders own 2.80% of the company’s stock.

A number of institutional investors have recently added to or reduced their stakes in MRCY. Schwab Charles Investment Management Inc. lifted its position in shares of Mercury Systems by 5.0% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 252,505 shares of the technology company’s stock valued at $9,611,000 after buying an additional 12,077 shares in the last quarter. BlackRock Inc. lifted its position in shares of Mercury Systems by 8.9% during the 2nd quarter. BlackRock Inc. now owns 8,274,536 shares of the technology company’s stock valued at $314,928,000 after buying an additional 672,821 shares in the last quarter. Legal & General Group Plc lifted its position in shares of Mercury Systems by 5.3% during the 2nd quarter. Legal & General Group Plc now owns 104,072 shares of the technology company’s stock valued at $3,952,000 after buying an additional 5,205 shares in the last quarter. FMR LLC lifted its position in shares of Mercury Systems by 54.4% during the 2nd quarter. FMR LLC now owns 499,400 shares of the technology company’s stock valued at $19,007,000 after buying an additional 176,000 shares in the last quarter. Finally, Envestnet Asset Management Inc. lifted its position in shares of Mercury Systems by 72.0% during the 2nd quarter. Envestnet Asset Management Inc. now owns 11,148 shares of the technology company’s stock valued at $424,000 after buying an additional 4,668 shares in the last quarter. Institutional investors and hedge funds own 96.81% of the company’s stock.

Shares of Mercury Systems stock opened at $48.11 on Friday. The stock has a market capitalization of $2.29 billion, a price-to-earnings ratio of 42.58, a PEG ratio of 2.91 and a beta of 0.88. The company has a quick ratio of 2.94, a current ratio of 4.40 and a debt-to-equity ratio of 0.31. Mercury Systems has a one year low of $30.11 and a one year high of $57.26.

Mercury Systems (NASDAQ:MRCY) last announced its earnings results on Tuesday, October 30th. The technology company reported $0.39 EPS for the quarter, topping the Zacks’ consensus estimate of $0.35 by $0.04. The business had revenue of $144.10 million during the quarter, compared to the consensus estimate of $139.12 million. Mercury Systems had a net margin of 5.72% and a return on equity of 6.97%. The firm’s revenue was up 35.8% on a year-over-year basis. During the same period in the previous year, the company posted $0.37 earnings per share. On average, sell-side analysts anticipate that Mercury Systems will post 1.41 EPS for the current year.

Mercury Systems Company Profile

Mercury Systems, Inc provides sensor and safety critical mission processing subsystems for various critical defense and intelligence programs in the United States. Its products and solutions are deployed in approximately 300 programs with 25 defense contractors. The company's principal programs include Aegis, Patriot, Surface Electronic Warfare Improvement Program, Gorgon Stare, Predator, F-35, Reaper, F-16 SABR, E2D Hawkeye, Paveway, Filthy Buzzard, PGK, ProVision, P1, and AIDEWS.

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Analyst Recommendations for Mercury Systems (NASDAQ:MRCY)

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