Mercury Systems Inc (NASDAQ:MRCY) Receives Consensus Recommendation of “Buy” from Analysts

Shares of Mercury Systems Inc (NASDAQ:MRCY) have been given an average rating of “Buy” by the nine analysts that are currently covering the company, MarketBeat.com reports. Three investment analysts have rated the stock with a hold recommendation, five have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year price objective among brokerages that have updated their coverage on the stock in the last year is $73.20.

Several analysts recently commented on MRCY shares. BidaskClub upgraded shares of Mercury Systems from a “buy” rating to a “strong-buy” rating in a research report on Thursday. Bank of America upgraded shares of Mercury Systems from an “underperform” rating to a “neutral” rating and upped their price target for the company from $50.00 to $85.00 in a research report on Friday, August 9th. Alembic Global Advisors upgraded shares of Mercury Systems from a “neutral” rating to an “overweight” rating in a research report on Wednesday, May 1st. Zacks Investment Research upgraded shares of Mercury Systems from a “sell” rating to a “hold” rating in a research report on Tuesday, August 6th. Finally, Canaccord Genuity reiterated a “buy” rating and issued a $76.00 price target (up previously from $64.00) on shares of Mercury Systems in a research report on Friday, April 26th.

In other Mercury Systems news, CAO Michelle M. Mccarthy sold 624 shares of the business’s stock in a transaction on Monday, August 19th. The shares were sold at an average price of $84.99, for a total value of $53,033.76. Following the transaction, the chief accounting officer now directly owns 10,982 shares of the company’s stock, valued at approximately $933,360.18. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Mark Aslett sold 10,000 shares of the business’s stock in a transaction on Tuesday, June 4th. The shares were sold at an average price of $65.90, for a total transaction of $659,000.00. Following the completion of the transaction, the insider now directly owns 337,440 shares in the company, valued at $22,237,296. The disclosure for this sale can be found here. Insiders sold a total of 30,624 shares of company stock worth $2,282,334 over the last three months. 2.80% of the stock is currently owned by corporate insiders.

Several large investors have recently bought and sold shares of the company. BlackRock Inc. grew its stake in shares of Mercury Systems by 11.4% during the 2nd quarter. BlackRock Inc. now owns 8,689,566 shares of the technology company’s stock worth $611,311,000 after purchasing an additional 889,855 shares during the period. Vanguard Group Inc. grew its stake in shares of Mercury Systems by 14.5% during the 2nd quarter. Vanguard Group Inc. now owns 5,510,286 shares of the technology company’s stock worth $387,649,000 after purchasing an additional 696,956 shares during the period. Bank of New York Mellon Corp grew its stake in shares of Mercury Systems by 1.7% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,643,521 shares of the technology company’s stock worth $115,623,000 after purchasing an additional 27,345 shares during the period. Invesco Ltd. grew its stake in shares of Mercury Systems by 231.4% during the 2nd quarter. Invesco Ltd. now owns 1,317,313 shares of the technology company’s stock worth $92,673,000 after purchasing an additional 919,854 shares during the period. Finally, Federated Investors Inc. PA grew its stake in shares of Mercury Systems by 11.7% during the 1st quarter. Federated Investors Inc. PA now owns 1,015,224 shares of the technology company’s stock worth $65,056,000 after purchasing an additional 106,624 shares during the period. 86.94% of the stock is currently owned by institutional investors and hedge funds.

MRCY stock traded down $3.21 on Friday, hitting $84.66. The company’s stock had a trading volume of 320,301 shares, compared to its average volume of 417,566. The firm has a 50 day moving average of $76.50 and a two-hundred day moving average of $69.32. Mercury Systems has a 1 year low of $41.16 and a 1 year high of $89.44. The stock has a market cap of $4.92 billion, a price-to-earnings ratio of 55.70, a price-to-earnings-growth ratio of 4.43 and a beta of 1.09.

Mercury Systems (NASDAQ:MRCY) last released its quarterly earnings results on Tuesday, July 30th. The technology company reported $0.47 EPS for the quarter, beating the consensus estimate of $0.36 by $0.11. Mercury Systems had a net margin of 7.14% and a return on equity of 8.11%. The firm had revenue of $176.96 million during the quarter, compared to the consensus estimate of $171.98 million. During the same quarter in the prior year, the firm earned $0.47 EPS. Mercury Systems’s revenue for the quarter was up 15.8% on a year-over-year basis. Analysts predict that Mercury Systems will post 1.72 earnings per share for the current fiscal year.

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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Analyst Recommendations for Mercury Systems (NASDAQ:MRCY)

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