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

Shares of Leonardo DRS, Inc. (NASDAQ:DRS) have been given a consensus rating of “Moderate Buy” by the six ratings firms that are currently covering the firm, Marketbeat.com reports. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average twelve-month target price among brokerages that have updated their coverage on the stock in the last year is $29.17.

A number of research analysts recently weighed in on the stock. Truist Financial lifted their target price on shares of Leonardo DRS from $30.00 to $32.00 and gave the company a “buy” rating in a research note on Wednesday, July 31st. Robert W. Baird boosted their price objective on Leonardo DRS from $26.00 to $30.00 and gave the company an “outperform” rating in a research report on Wednesday, July 31st. Bank of America cut Leonardo DRS from a “buy” rating to a “neutral” rating and increased their target price for the stock from $26.00 to $30.00 in a research report on Tuesday. Finally, BTIG Research lifted their target price on Leonardo DRS from $30.00 to $33.00 and gave the company a “buy” rating in a research note on Thursday, August 1st.

Institutional Investors Weigh In On Leonardo DRS

A number of hedge funds have recently made changes to their positions in DRS. Nisa Investment Advisors LLC raised its holdings in shares of Leonardo DRS by 1,325.9% during the 2nd quarter. Nisa Investment Advisors LLC now owns 1,155 shares of the company’s stock worth $29,000 after acquiring an additional 1,074 shares in the last quarter. PNC Financial Services Group Inc. purchased a new stake in Leonardo DRS during the fourth quarter valued at $35,000. EntryPoint Capital LLC lifted its position in Leonardo DRS by 165.8% during the first quarter. EntryPoint Capital LLC now owns 1,656 shares of the company’s stock valued at $37,000 after purchasing an additional 1,033 shares during the last quarter. Harel Insurance Investments & Financial Services Ltd. purchased a new position in shares of Leonardo DRS in the 1st quarter worth $50,000. Finally, Comerica Bank raised its position in shares of Leonardo DRS by 23.7% during the 1st quarter. Comerica Bank now owns 2,750 shares of the company’s stock valued at $61,000 after buying an additional 527 shares in the last quarter. 18.76% of the stock is currently owned by hedge funds and other institutional investors.

Leonardo DRS Stock Up 1.3 %

NASDAQ DRS opened at $27.52 on Thursday. Leonardo DRS has a 52 week low of $15.81 and a 52 week high of $29.85. The company has a quick ratio of 1.60, a current ratio of 2.01 and a debt-to-equity ratio of 0.15. The company has a market capitalization of $7.24 billion, a P/E ratio of 39.31, a price-to-earnings-growth ratio of 2.07 and a beta of 0.96. The stock’s 50-day moving average price is $27.71 and its 200-day moving average price is $24.82.

Leonardo DRS (NASDAQ:DRS) last released its earnings results on Tuesday, July 30th. The company reported $0.18 EPS for the quarter, topping analysts’ consensus estimates of $0.14 by $0.04. The company had revenue of $753.00 million for the quarter, compared to analysts’ expectations of $680.38 million. Leonardo DRS had a net margin of 6.12% and a return on equity of 9.48%. The firm’s revenue was up 19.9% compared to the same quarter last year. During the same quarter last year, the business earned $0.15 EPS. On average, equities research analysts predict that Leonardo DRS will post 0.84 earnings per share for the current year.

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.