Mercury Systems (MRCY) Raised to “Overweight” at Alembic Global Advisors

Alembic Global Advisors upgraded shares of Mercury Systems (NASDAQ:MRCY) from a neutral rating to an overweight rating in a research report report published on Wednesday, BenzingaRatingsTable reports.

MRCY has been the subject of a number of other research reports. ValuEngine cut shares of Mercury Systems from a buy rating to a hold rating in a research note on Wednesday, January 2nd. BidaskClub upgraded shares of Mercury Systems from a buy rating to a strong-buy rating in a research note on Friday, March 22nd. Zacks Investment Research cut shares of Mercury Systems from a strong-buy rating to a hold rating in a research note on Wednesday, April 3rd. SunTrust Banks increased their price target on shares of Mercury Systems to $63.00 and gave the company a buy rating in a research note on Wednesday, January 30th. Finally, Drexel Hamilton reiterated a buy rating and issued a $67.00 price target on shares of Mercury Systems in a research note on Wednesday, January 30th. Six analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. Mercury Systems currently has a consensus rating of Buy and an average target price of $71.50.

MRCY traded up $1.71 during trading hours on Wednesday, hitting $73.58. 510,663 shares of the company’s stock were exchanged, compared to its average volume of 362,313. Mercury Systems has a 1-year low of $30.11 and a 1-year high of $79.83. The stock has a market capitalization of $3.57 billion, a price-to-earnings ratio of 65.12, a PEG ratio of 4.31 and a beta of 1.10. The company has a current ratio of 4.29, a quick ratio of 2.93 and a debt-to-equity ratio of 0.30.

Mercury Systems (NASDAQ:MRCY) last announced its earnings results on Tuesday, April 30th. The technology company reported $0.42 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.38 by $0.04. Mercury Systems had a net margin of 6.99% and a return on equity of 9.33%. The business had revenue of $174.60 million during the quarter, compared to analysts’ expectations of $165.61 million. During the same quarter in the prior year, the company posted $0.30 earnings per share. The firm’s revenue was up 50.1% on a year-over-year basis. As a group, research analysts predict that Mercury Systems will post 1.48 earnings per share for the current fiscal year.

In other news, COO Didier M. C. Thibaud sold 39,736 shares of the firm’s stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $60.22, for a total transaction of $2,392,901.92. Following the completion of the sale, the chief operating officer now owns 298,940 shares in the company, valued at approximately $18,002,166.80. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Mark Aslett sold 10,000 shares of the firm’s stock in a transaction dated Wednesday, May 1st. The stock was sold at an average price of $74.03, for a total transaction of $740,300.00. Following the sale, the insider now owns 357,440 shares of the company’s stock, valued at approximately $26,461,283.20. The disclosure for this sale can be found here. In the last quarter, insiders sold 54,736 shares of company stock valued at $3,446,102. Corporate insiders own 2.80% of the company’s stock.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. State of Alaska Department of Revenue lifted its stake in shares of Mercury Systems by 1.0% during the 1st quarter. State of Alaska Department of Revenue now owns 16,331 shares of the technology company’s stock worth $1,046,000 after buying an additional 155 shares during the last quarter. Victory Capital Management Inc. lifted its stake in shares of Mercury Systems by 4.0% during the 4th quarter. Victory Capital Management Inc. now owns 5,374 shares of the technology company’s stock worth $254,000 after buying an additional 209 shares during the last quarter. Arizona State Retirement System lifted its stake in shares of Mercury Systems by 0.3% during the 1st quarter. Arizona State Retirement System now owns 74,755 shares of the technology company’s stock worth $4,790,000 after buying an additional 218 shares during the last quarter. Equitable Trust Co. lifted its stake in shares of Mercury Systems by 5.0% during the 4th quarter. Equitable Trust Co. now owns 7,350 shares of the technology company’s stock worth $348,000 after buying an additional 350 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of Mercury Systems by 11.4% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,545 shares of the technology company’s stock worth $168,000 after buying an additional 363 shares during the last quarter.

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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