Mercury Systems (NASDAQ:MRCY) Upgraded by Truist Financial to Buy Rating

Mercury Systems (NASDAQ:MRCY) was upgraded by analysts at Truist Financial from a “hold” rating to a “buy” rating in a note issued to investors on Thursday,Benzinga reports. The firm presently has a $56.00 target price on the technology company’s stock, up from their previous target price of $49.00. Truist Financial’s target price points to a potential upside of 33.02% from the company’s current price.

Other analysts also recently issued research reports about the stock. Baird R W upgraded shares of Mercury Systems from a “hold” rating to a “strong-buy” rating in a report on Wednesday, February 5th. StockNews.com upgraded Mercury Systems from a “sell” rating to a “hold” rating in a research report on Thursday, December 5th. The Goldman Sachs Group lifted their price objective on Mercury Systems from $25.00 to $28.00 and gave the stock a “sell” rating in a research report on Thursday, January 16th. Finally, Robert W. Baird upgraded Mercury Systems from a “neutral” rating to an “outperform” rating and upped their target price for the company from $37.00 to $58.00 in a report on Wednesday, February 5th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Mercury Systems currently has an average rating of “Hold” and an average price target of $43.86.

Mercury Systems Stock Performance

MRCY stock opened at $42.10 on Thursday. Mercury Systems has a one year low of $26.48 and a one year high of $52.25. The company has a debt-to-equity ratio of 0.41, a quick ratio of 2.36 and a current ratio of 3.62. The firm has a market cap of $2.51 billion, a price-to-earnings ratio of -26.99 and a beta of 0.80. The firm has a 50-day simple moving average of $43.40 and a two-hundred day simple moving average of $39.82.

Mercury Systems (NASDAQ:MRCY) last issued its quarterly earnings data on Tuesday, February 4th. The technology company reported ($0.08) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.04) by ($0.04). Mercury Systems had a negative net margin of 10.23% and a negative return on equity of 2.03%. On average, equities analysts forecast that Mercury Systems will post -0.08 EPS for the current fiscal year.

Insider Transactions at Mercury Systems

In related news, COO Charles Roger Iv Wells sold 2,342 shares of the firm’s stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $44.12, for a total value of $103,329.04. Following the completion of the sale, the chief operating officer now owns 95,928 shares in the company, valued at $4,232,343.36. This trade represents a 2.38 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Stuart Kupinsky sold 2,377 shares of Mercury Systems stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $44.12, for a total value of $104,873.24. Following the completion of the sale, the executive vice president now owns 62,834 shares in the company, valued at approximately $2,772,236.08. This trade represents a 3.65 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 5,314 shares of company stock valued at $234,454. Insiders own 1.60% of the company’s stock.

Institutional Investors Weigh In On Mercury Systems

A number of large investors have recently added to or reduced their stakes in the business. Neo Ivy Capital Management acquired a new position in shares of Mercury Systems in the fourth quarter worth $33,000. Sterling Capital Management LLC lifted its position in Mercury Systems by 762.6% during the fourth quarter. Sterling Capital Management LLC now owns 1,639 shares of the technology company’s stock valued at $69,000 after buying an additional 1,449 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. acquired a new position in shares of Mercury Systems during the fourth quarter worth $75,000. Covestor Ltd increased its position in shares of Mercury Systems by 41.2% during the third quarter. Covestor Ltd now owns 2,124 shares of the technology company’s stock worth $78,000 after acquiring an additional 620 shares during the last quarter. Finally, KBC Group NV grew its holdings in Mercury Systems by 49.4% during the 4th quarter. KBC Group NV now owns 2,496 shares of the technology company’s stock worth $105,000 after acquiring an additional 825 shares in the last quarter. 95.99% of the stock is owned by institutional investors and hedge funds.

About Mercury Systems

Mercury Systems, Inc, a technology company, manufactures and sells components, products, modules, and subsystems for aerospace and defense industries in the United States, Europe, and the Asia Pacific. Its products and solutions are deployed in approximately 300 programs with 25 defense contractors and commercial aviation customers.