Leonardo DRS, Inc. (NASDAQ:DRS) Receives $29.17 Average Target Price from Brokerages

Shares of Leonardo DRS, Inc. (NASDAQ:DRS) have earned a consensus rating of “Moderate Buy” from the six research firms that are covering the firm, Marketbeat.com reports. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average 12-month price objective among analysts that have issued a report on the stock in the last year is $29.17.

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

Leonardo DRS Trading Up 2.1 %

NASDAQ:DRS opened at $28.81 on Monday. The stock has a market cap of $7.58 billion, a price-to-earnings ratio of 41.16, a PEG ratio of 1.99 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. The company’s 50 day moving average price is $28.17 and its 200-day moving average price is $25.58. Leonardo DRS has a 52 week low of $17.97 and a 52 week high of $30.98.

Leonardo DRS (NASDAQ:DRS) last issued its earnings results on Tuesday, July 30th. The company reported $0.18 EPS for the quarter, beating the consensus estimate of $0.14 by $0.04. Leonardo DRS had a return on equity of 9.48% and a net margin of 6.12%. The business had revenue of $753.00 million for the quarter, compared to the consensus estimate of $680.38 million. During the same period last year, the business posted $0.15 EPS. The company’s revenue was up 19.9% compared to the same quarter last year. On average, equities research analysts forecast that Leonardo DRS will post 0.86 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Leonardo DRS

A number of hedge funds have recently modified their holdings of DRS. Vanguard Group Inc. lifted its position in 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 purchasing an additional 2,490,447 shares in the last quarter. PNC Financial Services Group Inc. purchased a new stake in Leonardo DRS in the 4th quarter worth approximately $35,000. Cannon Global Investment Management LLC bought a new stake in Leonardo DRS during the 1st quarter worth approximately $725,000. Oliver Luxxe Assets LLC raised its stake in Leonardo DRS by 2.7% during the 1st quarter. Oliver Luxxe Assets LLC now owns 45,741 shares of the company’s stock worth $1,010,000 after acquiring an additional 1,206 shares during the period. Finally, Principal Financial Group Inc. lifted its holdings in Leonardo DRS by 165.6% during the first quarter. Principal Financial Group Inc. now owns 108,008 shares of the company’s stock valued at $2,386,000 after purchasing an additional 67,335 shares in 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.