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

Mercury Systems (NASDAQ:MRCY) had its price objective increased by stock analysts at JPMorgan Chase & Co. from $36.00 to $40.00 in a note issued to investors on Thursday,Benzinga reports. The brokerage presently has a “neutral” rating on the technology company’s stock. JPMorgan Chase & Co.‘s target price would indicate a potential downside of 6.32% from the company’s previous close.

Several other brokerages have also recently weighed in on MRCY. StockNews.com upgraded Mercury Systems from a “sell” rating to a “hold” rating in a research note on Saturday, October 5th. Royal Bank of Canada raised their price target 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. Truist Financial upped their price objective 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 lifted their target price on shares of Mercury Systems from $26.00 to $37.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 14th. Finally, Alembic Global Advisors raised Mercury Systems from a “neutral” rating to an “overweight” rating and set a $48.00 target price for the company in a report on Monday, August 19th. Four equities research analysts have rated the stock with a sell rating, four have given a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $34.00.

Mercury Systems Trading Up 1.8 %

MRCY opened at $42.70 on Thursday. Mercury Systems has a fifty-two week low of $25.31 and a fifty-two week high of $43.33. The firm has a market capitalization of $2.55 billion, a PE ratio of -20.83 and a beta of 0.71. The company has a debt-to-equity ratio of 0.41, a current ratio of 4.10 and a quick ratio of 2.64. The company’s 50-day moving average is $36.18 and its 200 day moving average is $33.32.

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

Insider Activity

In related news, COO Charles Roger Iv Wells sold 1,346 shares of Mercury Systems 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 $53,153.54. Following the sale, the chief operating officer now owns 130,408 shares of the company’s stock, valued at approximately $5,149,811.92. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, COO Charles Roger Iv Wells sold 1,346 shares of Mercury Systems stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $39.49, for a total value of $53,153.54. Following the completion of the sale, the chief operating officer now owns 130,408 shares of the company’s stock, valued at approximately $5,149,811.92. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Jana Partners Management, Lp acquired 13,600 shares of the stock in a transaction that occurred on Tuesday, August 27th. The stock was purchased at an average price of $37.25 per share, for a total transaction of $506,600.00. Following the completion of the purchase, the director now directly owns 6,944,633 shares in the company, valued at $258,687,579.25. This trade represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. Insiders sold 22,099 shares of company stock valued at $865,740 in the last three months. Company insiders own 1.60% of the company’s stock.

Institutional Investors Weigh In On Mercury Systems

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Signaturefd LLC increased its holdings in Mercury Systems by 144.0% during the 3rd quarter. Signaturefd LLC now owns 666 shares of the technology company’s stock worth $25,000 after acquiring an additional 393 shares during the period. Nisa Investment Advisors LLC increased its holdings in shares of Mercury Systems by 1,126.3% in the second quarter. Nisa Investment Advisors LLC now owns 1,165 shares of the technology company’s stock worth $31,000 after purchasing an additional 1,070 shares during the period. Harel Insurance Investments & Financial Services Ltd. raised its position in shares of Mercury Systems by 216.0% in the second quarter. Harel Insurance Investments & Financial Services Ltd. now owns 2,373 shares of the technology company’s stock worth $64,000 after buying an additional 1,622 shares in the last quarter. Covestor Ltd boosted its stake in Mercury Systems by 41.2% during the third quarter. Covestor Ltd now owns 2,124 shares of the technology company’s stock valued at $78,000 after buying an additional 620 shares during the period. Finally, nVerses Capital LLC purchased a new position in Mercury Systems during the second quarter worth about $81,000. 95.99% of the stock is currently owned by 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.