Mercury Systems (NASDAQ:MRCY) Reaches New 1-Year High – Still a Buy?

Mercury Systems, Inc. (NASDAQ:MRCY)’s share price hit a new 52-week high during trading on Wednesday . The company traded as high as $52.25 and last traded at $49.19, with a volume of 416651 shares traded. The stock had previously closed at $42.09.

Analysts Set New Price Targets

MRCY has been the topic of a number of analyst reports. Jefferies Financial Group upgraded Mercury Systems from an “underperform” rating to a “hold” rating and lifted their price target for the company from $30.00 to $42.00 in a research note on Monday, November 11th. The Goldman Sachs Group lifted their price objective on Mercury Systems from $25.00 to $28.00 and gave the stock a “sell” rating in a research report on Thursday, January 16th. Robert W. Baird upgraded Mercury Systems from a “neutral” rating to an “outperform” rating and increased their target price for the stock from $37.00 to $58.00 in a research report on Wednesday. JPMorgan Chase & Co. boosted their price objective on shares of Mercury Systems from $36.00 to $40.00 and gave the company a “neutral” rating in a research note on Thursday, November 7th. Finally, Truist Financial raised their price target on shares of Mercury Systems from $35.00 to $44.00 and gave the company a “hold” rating in a report on Tuesday, January 14th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $42.14.

Mercury Systems Price Performance

The company has a market cap of $2.95 billion, a price-to-earnings ratio of -24.02 and a beta of 0.79. The company has a debt-to-equity ratio of 0.41, a quick ratio of 2.59 and a current ratio of 4.10. The company’s 50 day moving average price is $41.04 and its 200-day moving average price is $38.23.

Mercury Systems (NASDAQ:MRCY) last released its quarterly earnings results on Tuesday, February 4th. The technology company reported ($0.08) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.04). Mercury Systems had a negative net margin of 13.80% and a negative return on equity of 3.96%. On average, equities research analysts forecast that Mercury Systems, Inc. will post -0.14 earnings per share for the current fiscal year.

Insider Buying and Selling at Mercury Systems

In other news, COO Charles Roger Iv Wells sold 1,527 shares of Mercury Systems stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $38.80, for a total value of $59,247.60. Following the transaction, the chief operating officer now directly owns 113,488 shares in the company, valued at approximately $4,403,334.40. The trade was a 1.33 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 1.60% of the company’s stock.

Institutional Trading of Mercury Systems

A number of hedge funds have recently modified their holdings of the company. Y Intercept Hong Kong Ltd boosted its stake in Mercury Systems by 108.7% in the fourth quarter. Y Intercept Hong Kong Ltd now owns 12,336 shares of the technology company’s stock worth $518,000 after purchasing an additional 6,426 shares in the last quarter. Ieq Capital LLC acquired a new position in Mercury Systems during the 4th quarter worth about $241,000. CIBC Asset Management Inc bought a new stake in Mercury Systems during the 4th quarter worth about $225,000. Principal Financial Group Inc. increased its position in Mercury Systems by 3.2% in the 4th quarter. Principal Financial Group Inc. now owns 245,880 shares of the technology company’s stock valued at $10,327,000 after acquiring an additional 7,512 shares in the last quarter. Finally, Van ECK Associates Corp raised its stake in shares of Mercury Systems by 35.1% in the fourth quarter. Van ECK Associates Corp now owns 297,109 shares of the technology company’s stock worth $12,479,000 after acquiring an additional 77,254 shares during the last quarter. Institutional investors own 95.99% of the company’s stock.

About Mercury Systems

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.