Brokerages Set Leonardo DRS, Inc. (NASDAQ:DRS) Price Target at $29.17

Leonardo DRS, Inc. (NASDAQ:DRS) has received a consensus recommendation of “Moderate Buy” from the six ratings firms that are currently covering the stock, Marketbeat.com reports. Three research analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average 12-month target price among brokerages that have covered the stock in the last year is $29.17.

Several equities analysts have weighed in on DRS shares. Bank of America cut Leonardo DRS from a “buy” rating to a “neutral” rating and raised their price target for the company from $26.00 to $30.00 in a report on Tuesday, September 24th. Truist Financial boosted their price target on shares of Leonardo DRS from $30.00 to $32.00 and gave the stock a “buy” rating in a research report on Wednesday, July 31st. BTIG Research increased their price objective on shares of Leonardo DRS from $30.00 to $33.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. Finally, Robert W. Baird boosted their target price on shares of Leonardo DRS from $26.00 to $30.00 and gave the stock an “outperform” rating in a report on Wednesday, July 31st.

Leonardo DRS Price Performance

Shares of NASDAQ:DRS opened at $28.72 on Monday. The firm has a market cap of $7.56 billion, a price-to-earnings ratio of 41.03, a P/E/G ratio of 1.85 and a beta of 0.96. The firm has a fifty day moving average price of $28.22 and a 200 day moving average price of $25.73. Leonardo DRS has a fifty-two week low of $17.97 and a fifty-two week high of $30.98. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.60 and a current ratio of 2.01.

Leonardo DRS (NASDAQ:DRS) last announced its quarterly earnings results on Tuesday, July 30th. The company reported $0.18 EPS for the quarter, topping the consensus estimate of $0.14 by $0.04. The business 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 business’s quarterly revenue was up 19.9% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.15 EPS. As a group, sell-side analysts expect that Leonardo DRS will post 0.86 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of DRS. Vanguard Group Inc. grew its stake in shares of Leonardo DRS by 50.8% during the fourth quarter. Vanguard Group Inc. now owns 7,389,350 shares of the company’s stock valued at $148,083,000 after buying an additional 2,490,447 shares during the last quarter. Swiss National Bank increased its stake in Leonardo DRS by 50.5% in the first quarter. Swiss National Bank now owns 155,300 shares of the company’s stock worth $3,431,000 after purchasing an additional 52,100 shares during the period. California State Teachers Retirement System increased its stake in Leonardo DRS by 33.9% in the first quarter. California State Teachers Retirement System now owns 77,704 shares of the company’s stock worth $1,716,000 after purchasing an additional 19,673 shares during the period. Cannon Global Investment Management LLC bought a new stake in shares of Leonardo DRS during the first quarter worth $725,000. Finally, Price T Rowe Associates Inc. MD grew its holdings in shares of Leonardo DRS by 15.4% in the first quarter. Price T Rowe Associates Inc. MD now owns 2,180,347 shares of the company’s stock worth $48,165,000 after purchasing an additional 290,188 shares during the last quarter. Institutional investors own 18.76% of the company’s stock.

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.