Leonardo DRS (NASDAQ:DRS) Lowered to “Neutral” at Bank of America

Leonardo DRS (NASDAQ:DRS) was downgraded by equities researchers at Bank of America from a “buy” rating to a “neutral” rating in a research note issued on Tuesday, MarketBeat.com reports. They currently have a $30.00 price target on the stock, up from their previous price target of $26.00. Bank of America‘s target price would indicate a potential upside of 4.97% from the company’s previous close.

A number of other research firms also recently weighed in on DRS. Truist Financial raised their price target on Leonardo DRS from $30.00 to $32.00 and gave the company a “buy” rating in a research note on Wednesday, July 31st. BTIG Research raised their target price on shares of Leonardo DRS from $30.00 to $33.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. Finally, Robert W. Baird upped their price target on shares of Leonardo DRS from $26.00 to $30.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 31st. Three analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $29.17.

Leonardo DRS Stock Performance

Shares of DRS stock opened at $28.58 on Tuesday. Leonardo DRS has a 12 month low of $15.81 and a 12 month high of $29.85. The company’s fifty day simple moving average is $27.73 and its 200-day simple moving average is $24.80. The firm has a market cap of $7.52 billion, a PE ratio of 40.83, a P/E/G ratio of 2.02 and a beta of 0.96. The company has a quick ratio of 1.60, a current ratio of 2.01 and a debt-to-equity ratio of 0.15.

Leonardo DRS (NASDAQ:DRS) last issued 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 firm 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 company’s revenue for the quarter was up 19.9% on a year-over-year basis. During the same period in the previous year, the firm posted $0.15 EPS. Equities research analysts expect that Leonardo DRS will post 0.84 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in DRS. Vanguard Group Inc. raised its holdings in Leonardo DRS by 50.8% in the 4th quarter. Vanguard Group Inc. now owns 7,389,350 shares of the company’s stock valued at $148,083,000 after acquiring an additional 2,490,447 shares during the period. Ghisallo Capital Management LLC bought a new position in shares of Leonardo DRS during the fourth quarter worth approximately $13,795,000. Dimensional Fund Advisors LP acquired a new stake in Leonardo DRS during the 2nd quarter worth approximately $16,916,000. Van ECK Associates Corp bought a new stake in Leonardo DRS in the 2nd quarter valued at $11,093,000. Finally, Motley Fool Asset Management LLC grew its holdings in Leonardo DRS by 289.3% in the 1st quarter. Motley Fool Asset Management LLC now owns 537,536 shares of the company’s stock valued at $11,874,000 after buying an additional 399,456 shares in the last quarter. 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.