Leonardo DRS, Inc. (NASDAQ:DRS) Receives Average Recommendation of “Moderate Buy” from Brokerages

Shares of Leonardo DRS, Inc. (NASDAQ:DRS) have been assigned an average recommendation of “Moderate Buy” from the six brokerages that are currently covering the company, MarketBeat.com reports. Three analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average twelve-month target price among brokerages that have issued ratings on the stock in the last year is $32.17.

DRS has been the subject of a number of research reports. Truist Financial boosted their price target on Leonardo DRS from $30.00 to $32.00 and gave the company a “buy” rating in a research report on Wednesday, July 31st. BTIG Research boosted their target price on Leonardo DRS from $30.00 to $33.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. Robert W. Baird raised their price target on shares of Leonardo DRS from $30.00 to $40.00 and gave the company an “outperform” rating in a report on Thursday, October 31st. Bank of America downgraded shares of Leonardo DRS from a “buy” rating to a “neutral” rating and boosted their price objective for the stock from $26.00 to $30.00 in a research note on Tuesday, September 24th. Finally, JPMorgan Chase & Co. raised their target price on shares of Leonardo DRS from $29.00 to $32.00 and gave the company a “neutral” rating in a research note on Monday, November 4th.

Leonardo DRS Stock Down 5.0 %

DRS opened at $34.33 on Friday. The firm has a market cap of $9.08 billion, a P/E ratio of 46.39, a PEG ratio of 2.23 and a beta of 0.95. The business’s fifty day simple moving average is $29.62 and its 200 day simple moving average is $27.04. Leonardo DRS has a 52 week low of $17.97 and a 52 week high of $37.99. The company has a quick ratio of 1.70, a current ratio of 2.11 and a debt-to-equity ratio of 0.14.

Leonardo DRS (NASDAQ:DRS) last issued its quarterly earnings results on Wednesday, October 30th. The company reported $0.24 earnings per share for the quarter, topping analysts’ consensus estimates of $0.20 by $0.04. The company had revenue of $812.00 million for the quarter, compared to analyst estimates of $775.44 million. Leonardo DRS had a return on equity of 9.71% and a net margin of 6.23%. The business’s revenue for the quarter was up 15.5% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.20 EPS. As a group, equities research analysts anticipate that Leonardo DRS will post 0.9 EPS for the current fiscal year.

Institutional Trading of Leonardo DRS

Institutional investors have recently made changes to their positions in the stock. Cerity Partners LLC grew its holdings in shares of Leonardo DRS by 1.1% in the 3rd quarter. Cerity Partners LLC now owns 34,051 shares of the company’s stock worth $961,000 after acquiring an additional 354 shares during the last quarter. Blair William & Co. IL increased its stake in Leonardo DRS by 1.1% in the 2nd quarter. Blair William & Co. IL now owns 36,850 shares of the company’s stock worth $940,000 after purchasing an additional 400 shares in the last quarter. Arizona State Retirement System raised its holdings in Leonardo DRS by 2.0% during the 2nd quarter. Arizona State Retirement System now owns 22,056 shares of the company’s stock worth $563,000 after buying an additional 424 shares during the period. New York State Teachers Retirement System lifted its stake in Leonardo DRS by 6.9% during the third quarter. New York State Teachers Retirement System now owns 6,722 shares of the company’s stock valued at $190,000 after buying an additional 432 shares in the last quarter. Finally, Glenmede Trust Co. NA boosted its holdings in shares of Leonardo DRS by 1.3% in the third quarter. Glenmede Trust Co. NA now owns 33,960 shares of the company’s stock worth $958,000 after buying an additional 435 shares during the period. 18.76% of the stock is owned by institutional investors and hedge funds.

About Leonardo DRS

Leonardo DRS, Inc, together with its subsidiaries, provides defense electronic products and systems, and military support services. It operates through Advanced Sensing and Computing (ASC) segment, and Integrated Mission Systems (IMS) segments. The ASC segment designs, develops, and manufacture sensing and network computing technology that enables real-time situational awareness required for enhanced operational decision making and execution; and offers sensing capabilities span applications, such as missions requiring advanced detection, precision targeting and surveillance sensing, long range electro-optic/infrared, signals intelligence, and other intelligence systems including electronic warfare, ground vehicle sensing, active electronically scanned array tactical radars, dismounted soldier, and space sensing.