JPMorgan Chase & Co. Raises Leonardo DRS (NASDAQ:DRS) Price Target to $32.00

Leonardo DRS (NASDAQ:DRS) had its price objective increased by investment analysts at JPMorgan Chase & Co. from $29.00 to $32.00 in a note issued to investors on Monday, Benzinga reports. The firm presently has a “neutral” rating on the stock. JPMorgan Chase & Co.‘s price objective would suggest a potential downside of 3.15% from the stock’s current price.

DRS has been the topic of several other reports. Bank of America downgraded Leonardo DRS from a “buy” rating to a “neutral” rating and lifted their target price for the company from $26.00 to $30.00 in a research report on Tuesday, September 24th. 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 report on Thursday, August 1st. Truist Financial lifted their target price on Leonardo DRS from $30.00 to $32.00 and gave the company a “buy” rating in a research report on Wednesday, July 31st. Finally, Robert W. Baird lifted their target price on Leonardo DRS from $30.00 to $40.00 and gave the company an “outperform” rating in a research report on Thursday, October 31st. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, Leonardo DRS has an average rating of “Moderate Buy” and a consensus price target of $32.17.

Leonardo DRS Stock Performance

DRS stock opened at $33.04 on Monday. The company has a market cap of $8.74 billion, a P/E ratio of 44.65, a price-to-earnings-growth ratio of 1.93 and a beta of 0.95. Leonardo DRS has a 1 year low of $17.97 and a 1 year high of $33.29. The company has a debt-to-equity ratio of 0.14, a current ratio of 2.11 and a quick ratio of 1.70. The stock’s fifty day moving average price is $28.66 and its 200-day moving average price is $26.45.

Leonardo DRS (NASDAQ:DRS) last released its quarterly earnings results on Wednesday, October 30th. The company reported $0.24 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.20 by $0.04. The firm had revenue of $812.00 million for the quarter, compared to the consensus estimate of $775.44 million. Leonardo DRS had a return on equity of 9.71% and a net margin of 6.23%. The company’s revenue for the quarter was up 15.5% on a year-over-year basis. During the same period last year, the business posted $0.20 EPS. On average, equities analysts forecast that Leonardo DRS will post 0.89 earnings per share for the current year.

Institutional Investors Weigh In On Leonardo DRS

A number of institutional investors and hedge funds have recently bought and sold shares of DRS. Nisa Investment Advisors LLC increased its holdings in shares of Leonardo DRS by 1,325.9% in the second quarter. Nisa Investment Advisors LLC now owns 1,155 shares of the company’s stock worth $29,000 after purchasing an additional 1,074 shares during the last quarter. PNC Financial Services Group Inc. bought a new stake in shares of Leonardo DRS in the fourth quarter worth about $35,000. EntryPoint Capital LLC increased its holdings in shares of Leonardo DRS by 165.8% in the first quarter. EntryPoint Capital LLC now owns 1,656 shares of the company’s stock worth $37,000 after purchasing an additional 1,033 shares during the last quarter. Covestor Ltd increased its holdings in shares of Leonardo DRS by 226.8% in the third quarter. Covestor Ltd now owns 1,814 shares of the company’s stock worth $51,000 after purchasing an additional 1,259 shares during the last quarter. Finally, Comerica Bank increased its holdings in shares of Leonardo DRS by 23.7% in the first quarter. Comerica Bank now owns 2,750 shares of the company’s stock worth $61,000 after purchasing an additional 527 shares during the last quarter. 18.76% of the stock is owned by institutional investors.

Leonardo DRS Company Profile

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.