Mercury Systems (NASDAQ:MRCY) Sets New 12-Month High – Time to Buy?

Shares of Mercury Systems, Inc. (NASDAQ:MRCY) reached a new 52-week high on Tuesday . The company traded as high as $44.47 and last traded at $43.59, with a volume of 75251 shares traded. The stock had previously closed at $43.91.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on MRCY shares. Royal Bank of Canada increased their target price on shares of Mercury Systems from $30.00 to $35.00 and gave the company a “sector perform” rating in a research report on Wednesday, August 14th. Robert W. Baird lifted their price target on shares of Mercury Systems from $26.00 to $37.00 and gave the company a “neutral” rating in a research report on Wednesday, August 14th. Truist Financial lifted their price objective on Mercury Systems from $26.00 to $31.00 and gave the stock a “hold” rating in a research report on Wednesday, August 14th. JPMorgan Chase & Co. upped their price target on shares of Mercury Systems from $36.00 to $40.00 and gave the stock a “neutral” rating in a research report on Thursday, November 7th. Finally, StockNews.com cut shares of Mercury Systems from a “hold” rating to a “sell” rating in a research report on Thursday, November 7th. Three equities research analysts have rated the stock with a sell rating, five have given a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $35.50.

Mercury Systems Trading Down 0.6 %

The stock has a market cap of $2.60 billion, a price-to-earnings ratio of -21.42 and a beta of 0.71. The business has a 50-day simple moving average of $36.30 and a two-hundred day simple moving average of $33.51. The company has a debt-to-equity ratio of 0.41, a quick ratio of 2.64 and a current ratio of 4.10.

Mercury Systems (NASDAQ:MRCY) last announced its quarterly earnings data on Tuesday, August 13th. The technology company reported $0.09 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.23) by $0.32. Mercury Systems had a negative net margin of 13.80% and a negative return on equity of 3.96%. The firm had revenue of $248.56 million for the quarter, compared to the consensus estimate of $223.80 million. As a group, research analysts forecast that Mercury Systems, Inc. will post -0.52 EPS for the current year.

Insiders Place Their Bets

In other Mercury Systems news, Director Debora A. Plunkett sold 1,843 shares of the business’s stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $38.07, for a total value of $70,163.01. Following the transaction, the director now directly owns 11,339 shares in the company, valued at $431,675.73. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, Director Debora A. Plunkett sold 1,843 shares of the stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $38.07, for a total value of $70,163.01. Following the completion of the transaction, the director now owns 11,339 shares of the company’s stock, valued at approximately $431,675.73. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO William L. Ballhaus sold 6,549 shares of the business’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 $258,620.01. Following the completion of the transaction, the chief executive officer now owns 353,481 shares of the company’s stock, valued at approximately $13,958,964.69. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 22,099 shares of company stock worth $865,740. Corporate insiders own 1.60% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Westwood Holdings Group Inc. raised its holdings in Mercury Systems by 14.7% in the 1st quarter. Westwood Holdings Group Inc. now owns 1,554,166 shares of the technology company’s stock worth $45,848,000 after purchasing an additional 199,600 shares during the period. Roubaix Capital LLC acquired a new position in shares of Mercury Systems in the second quarter valued at approximately $3,684,000. Jane Street Group LLC increased its holdings in Mercury Systems by 102.6% in the first quarter. Jane Street Group LLC now owns 257,514 shares of the technology company’s stock valued at $7,597,000 after buying an additional 130,396 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in shares of Mercury Systems during the second quarter worth about $3,079,000. Finally, Clearline Capital LP grew its holdings in shares of Mercury Systems by 18.4% during the second quarter. Clearline Capital LP now owns 526,611 shares of the technology company’s stock worth $14,213,000 after buying an additional 81,826 shares during the last quarter. 95.99% of the stock is currently owned by hedge funds and other institutional investors.

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.