Leonardo DRS (NASDAQ:DRS) Sets New 1-Year High at $29.87

Shares of Leonardo DRS, Inc. (NASDAQ:DRS) reached a new 52-week high during trading on Tuesday . The stock traded as high as $29.87 and last traded at $29.72, with a volume of 476712 shares. The stock had previously closed at $28.22.

Wall Street Analyst Weigh In

DRS has been the subject of several analyst reports. Bank of America lowered shares of Leonardo DRS from a “buy” rating to a “neutral” rating and lifted their price objective for the company from $26.00 to $30.00 in a research note on Tuesday, September 24th. Truist Financial increased their price objective on Leonardo DRS from $30.00 to $32.00 and gave the company a “buy” rating in a report on Wednesday, July 31st. Robert W. Baird upped their target price on Leonardo DRS from $26.00 to $30.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 31st. Finally, BTIG Research increased their price target on Leonardo DRS from $30.00 to $33.00 and gave the company a “buy” rating in a report on Thursday, August 1st. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $29.17.

Leonardo DRS Stock Performance

The company has a debt-to-equity ratio of 0.15, a current ratio of 2.01 and a quick ratio of 1.60. The firm’s 50 day moving average price is $27.69 and its 200-day moving average price is $24.97. The firm has a market cap of $7.82 billion, a price-to-earnings ratio of 40.31, a P/E/G ratio of 1.94 and a beta of 0.96.

Leonardo DRS (NASDAQ:DRS) last released its earnings results on Tuesday, July 30th. The company reported $0.18 earnings per share for the quarter, beating the consensus estimate of $0.14 by $0.04. Leonardo DRS had a net margin of 6.12% and a return on equity of 9.48%. The business had revenue of $753.00 million during the quarter, compared to analysts’ expectations of $680.38 million. During the same quarter last year, the company earned $0.15 earnings per share. The firm’s revenue was up 19.9% on a year-over-year basis. On average, analysts anticipate that Leonardo DRS, Inc. will post 0.86 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Cetera Investment Advisers acquired a new position in shares of Leonardo DRS in the 2nd quarter worth approximately $1,072,000. Algert Global LLC acquired a new position in Leonardo DRS during the second quarter worth $202,000. Driehaus Capital Management LLC lifted its holdings in shares of Leonardo DRS by 4.7% during the second quarter. Driehaus Capital Management LLC now owns 2,281,546 shares of the company’s stock valued at $58,202,000 after acquiring an additional 102,198 shares during the period. The Manufacturers Life Insurance Company boosted its stake in shares of Leonardo DRS by 6.5% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 48,626 shares of the company’s stock valued at $1,240,000 after purchasing an additional 2,958 shares in the last quarter. Finally, AQR Capital Management LLC grew its holdings in shares of Leonardo DRS by 89.7% in the 2nd quarter. AQR Capital Management LLC now owns 55,361 shares of the company’s stock worth $1,412,000 after purchasing an additional 26,185 shares during the last quarter. Institutional investors own 18.76% of the company’s stock.

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.