Truist Financial Trims Mercury Systems (NASDAQ:MRCY) Target Price to $26.00

Mercury Systems (NASDAQ:MRCY) had its price target dropped by equities research analysts at Truist Financial from $28.00 to $26.00 in a report issued on Wednesday, Benzinga reports. The firm currently has a “hold” rating on the technology company’s stock. Truist Financial’s price objective would suggest a potential downside of 8.00% from the company’s previous close.

A number of other research analysts have also weighed in on the stock. Royal Bank of Canada cut their price target on shares of Mercury Systems from $35.00 to $30.00 and set a “sector perform” rating on the stock in a research note on Wednesday, February 7th. The Goldman Sachs Group lowered their price objective on shares of Mercury Systems from $24.00 to $21.00 and set a “sell” rating on the stock in a report on Thursday, February 8th. Four equities research analysts have rated the stock with a sell rating and four have given a hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $29.63.

Mercury Systems Trading Down 2.0 %

Mercury Systems stock traded down $0.57 during midday trading on Wednesday, hitting $28.26. 62,511 shares of the stock were exchanged, compared to its average volume of 531,430. The company has a fifty day simple moving average of $28.80 and a two-hundred day simple moving average of $31.75. Mercury Systems has a 52 week low of $25.31 and a 52 week high of $43.84. The stock has a market capitalization of $1.68 billion, a PE ratio of -19.35 and a beta of 0.68. The company has a quick ratio of 2.79, a current ratio of 4.36 and a debt-to-equity ratio of 0.41.

Mercury Systems (NASDAQ:MRCY) last announced its quarterly earnings results on Tuesday, February 6th. The technology company reported ($0.58) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.10) by ($0.48). Mercury Systems had a negative net margin of 9.54% and a negative return on equity of 2.62%. The company had revenue of $197.46 million during the quarter, compared to the consensus estimate of $215.41 million. Equities research analysts anticipate that Mercury Systems will post -1.4 EPS for the current fiscal year.

Insider Buying and Selling

In other news, CEO William L. Ballhaus acquired 3,413 shares of the business’s stock in a transaction that occurred on Monday, February 12th. The stock was acquired at an average price of $29.30 per share, with a total value of $100,000.90. Following the completion of the transaction, the chief executive officer now directly owns 7,066 shares of the company’s stock, valued at approximately $207,033.80. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, COO Charles Roger Iv Wells sold 1,696 shares of the company’s stock in a transaction on Friday, February 16th. The shares were sold at an average price of $29.57, for a total value of $50,150.72. Following the sale, the chief operating officer now directly owns 105,427 shares of the company’s stock, valued at approximately $3,117,476.39. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO William L. Ballhaus bought 3,413 shares of the company’s stock in a transaction that occurred on Monday, February 12th. The stock was purchased at an average price of $29.30 per share, for a total transaction of $100,000.90. Following the acquisition, the chief executive officer now owns 7,066 shares of the company’s stock, valued at $207,033.80. The disclosure for this purchase can be found here. Insiders sold 3,510 shares of company stock valued at $103,685 over the last quarter. 1.80% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in MRCY. Transatlantique Private Wealth LLC increased its holdings in shares of Mercury Systems by 2.4% during the third quarter. Transatlantique Private Wealth LLC now owns 14,032 shares of the technology company’s stock valued at $513,000 after acquiring an additional 328 shares in the last quarter. Daiwa Securities Group Inc. lifted its position in shares of Mercury Systems by 1.3% during the 4th quarter. Daiwa Securities Group Inc. now owns 27,911 shares of the technology company’s stock valued at $1,021,000 after buying an additional 357 shares during the last quarter. VisionPoint Advisory Group LLC boosted its stake in Mercury Systems by 110.9% in the 3rd quarter. VisionPoint Advisory Group LLC now owns 715 shares of the technology company’s stock worth $27,000 after purchasing an additional 376 shares during the period. Illinois Municipal Retirement Fund raised its position in shares of Mercury Systems by 1.5% in the first quarter. Illinois Municipal Retirement Fund now owns 29,782 shares of the technology company’s stock worth $879,000 after buying an additional 450 shares in the last quarter. Finally, Yousif Capital Management LLC grew its stake in Mercury Systems by 1.9% in the 4th quarter. Yousif Capital Management LLC now owns 25,887 shares of the technology company’s stock worth $947,000 after buying an additional 475 shares in the last quarter. 95.99% of the stock is owned by institutional investors and hedge funds.

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.