Mercury Systems (NASDAQ:MRCY) Upgraded to Hold at Zacks Investment Research

Zacks Investment Research upgraded shares of Mercury Systems (NASDAQ:MRCY) from a sell rating to a hold rating in a research note published on Tuesday, Zacks.com reports.

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 also recently weighed in on MRCY. BidaskClub downgraded shares of Mercury Systems from a strong-buy rating to a buy rating in a report on Friday, July 26th. Alembic Global Advisors raised shares of Mercury Systems from a neutral rating to an overweight rating in a report on Wednesday, May 1st. Finally, Canaccord Genuity reaffirmed a buy rating and issued a $76.00 target price (up previously from $64.00) on shares of Mercury Systems in a report on Friday, April 26th. One research analyst has rated the stock with a hold rating and six have issued a buy rating to the company’s stock. The company currently has a consensus rating of Buy and a consensus target price of $70.25.

Shares of NASDAQ:MRCY opened at $77.96 on Tuesday. The stock has a market capitalization of $4.42 billion, a P/E ratio of 51.29, a price-to-earnings-growth ratio of 4.05 and a beta of 1.09. The company has a 50-day moving average price of $71.46. The company has a current ratio of 5.94, a quick ratio of 4.54 and a debt-to-equity ratio of 0.34. Mercury Systems has a fifty-two week low of $41.16 and a fifty-two week high of $82.98.

Mercury Systems (NASDAQ:MRCY) last issued its earnings results on Tuesday, July 30th. The technology company reported $0.47 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.36 by $0.11. The business had revenue of $176.96 million for the quarter, compared to the consensus estimate of $171.98 million. Mercury Systems had a net margin of 7.14% and a return on equity of 8.11%. The business’s quarterly revenue was up 15.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.47 earnings per share. As a group, sell-side analysts forecast that Mercury Systems will post 1.72 earnings per share for the current fiscal year.

In related news, insider Mark Aslett sold 10,000 shares of the business’s stock in a transaction dated Tuesday, June 4th. The shares were sold at an average price of $65.90, for a total transaction of $659,000.00. Following the sale, the insider now owns 337,440 shares of the company’s stock, valued at $22,237,296. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In the last three months, insiders have sold 30,000 shares of company stock worth $2,024,200. 2.80% of the stock is owned by insiders.

A number of hedge funds have recently added to or reduced their stakes in the stock. Flagship Harbor Advisors LLC purchased a new stake in shares of Mercury Systems in the first quarter valued at about $44,000. Advisors Preferred LLC purchased a new stake in shares of Mercury Systems in the first quarter valued at about $106,000. NumerixS Investment Technologies Inc purchased a new stake in shares of Mercury Systems in the first quarter valued at about $128,000. NEXT Financial Group Inc purchased a new stake in shares of Mercury Systems in the second quarter valued at about $170,000. Finally, Meitav Dash Investments Ltd. purchased a new stake in shares of Mercury Systems in the first quarter valued at about $203,000. 84.86% of the stock is currently owned by hedge funds and other institutional investors.

About Mercury Systems

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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