JPMorgan Chase & Co. Forecasts Strong Price Appreciation for Mercury Systems (NASDAQ:MRCY) Stock

Mercury Systems (NASDAQ:MRCY) had its target price boosted by equities research analysts at JPMorgan Chase & Co. from $36.00 to $40.00 in a report issued on Thursday,Benzinga reports. The firm currently has a “neutral” rating on the technology company’s stock. JPMorgan Chase & Co.‘s price target indicates a potential downside of 1.67% from the stock’s previous close.

Other equities analysts have also recently issued research reports about the stock. Truist Financial increased their price target on shares of Mercury Systems from $26.00 to $31.00 and gave the stock a “hold” rating in a research report on Wednesday, August 14th. Robert W. Baird increased their price objective on shares of Mercury Systems from $26.00 to $37.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 14th. Royal Bank of Canada increased their price objective on shares of Mercury Systems from $30.00 to $35.00 and gave the stock a “sector perform” rating in a research note on Wednesday, August 14th. StockNews.com upgraded shares of Mercury Systems from a “sell” rating to a “hold” rating in a research note on Saturday, October 5th. Finally, Alembic Global Advisors upgraded shares of Mercury Systems from a “neutral” rating to an “overweight” rating and set a $48.00 price objective on the stock in a research note on Monday, August 19th. Three research analysts have rated the stock with a sell rating, five have issued a hold rating and one has given a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $34.00.

Mercury Systems Stock Down 3.6 %

Mercury Systems stock traded down $1.54 during trading on Thursday, reaching $40.68. 398,370 shares of the company’s stock were exchanged, compared to its average volume of 584,299. The company’s 50-day moving average is $36.00 and its two-hundred day moving average is $33.16. The company has a debt-to-equity ratio of 0.40, a quick ratio of 2.64 and a current ratio of 4.07. Mercury Systems has a 52-week low of $25.31 and a 52-week high of $42.93. The firm has a market cap of $2.42 billion, a price-to-earnings ratio of -17.08 and a beta of 0.71.

Mercury Systems (NASDAQ:MRCY) last posted its quarterly earnings data on Tuesday, August 13th. The technology company reported $0.09 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.23) by $0.32. The company had revenue of $248.56 million during the quarter, compared to analysts’ expectations of $223.80 million. Mercury Systems had a negative net margin of 16.48% and a negative return on equity of 4.92%. On average, analysts predict that Mercury Systems will post -0.52 earnings per share for the current year.

Insider Buying and Selling

In related news, EVP Stephanie Georges sold 1,340 shares of the firm’s stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $39.49, for a total value of $52,916.60. Following the completion of the transaction, the executive vice president now owns 32,259 shares of the company’s stock, valued at approximately $1,273,907.91. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, EVP Stephanie Georges sold 1,340 shares of the firm’s stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $39.49, for a total value of $52,916.60. Following the completion of the transaction, the executive vice president now owns 32,259 shares of the company’s stock, valued at approximately $1,273,907.91. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO David E. Farnsworth sold 6,716 shares of the firm’s stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $39.49, for a total transaction of $265,214.84. Following the completion of the transaction, the chief financial officer now directly owns 140,778 shares of the company’s stock, valued at $5,559,323.22. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 22,099 shares of company stock valued at $865,740. Company insiders own 1.60% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the company. Texas Permanent School Fund Corp grew its position in Mercury Systems by 1.1% in the 1st quarter. Texas Permanent School Fund Corp now owns 45,577 shares of the technology company’s stock worth $1,345,000 after purchasing an additional 514 shares during the last quarter. Duality Advisers LP grew its position in Mercury Systems by 38.2% in the 1st quarter. Duality Advisers LP now owns 29,311 shares of the technology company’s stock worth $865,000 after purchasing an additional 8,106 shares during the last quarter. Illinois Municipal Retirement Fund grew its position in Mercury Systems by 1.5% in the 1st quarter. Illinois Municipal Retirement Fund now owns 29,782 shares of the technology company’s stock worth $879,000 after purchasing an additional 450 shares during the last quarter. Sei Investments Co. boosted its position in shares of Mercury Systems by 27.0% during the 1st quarter. Sei Investments Co. now owns 216,956 shares of the technology company’s stock valued at $6,400,000 after acquiring an additional 46,132 shares in the last quarter. Finally, State Board of Administration of Florida Retirement System boosted its position in shares of Mercury Systems by 11.3% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 57,212 shares of the technology company’s stock valued at $1,688,000 after acquiring an additional 5,799 shares in the last quarter. Institutional investors own 95.99% of the company’s stock.

Mercury Systems Company Profile

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.