Brokerages Set Leonardo DRS, Inc. (NASDAQ:DRS) Target Price at $32.17

Shares of Leonardo DRS, Inc. (NASDAQ:DRS) have received an average recommendation of “Moderate Buy” from the six ratings firms that are presently covering the firm, MarketBeat.com reports. Three analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average 12-month price objective among brokers that have issued a report on the stock in the last year is $32.17.

A number of research firms recently issued reports on DRS. Robert W. Baird increased their price objective on Leonardo DRS from $30.00 to $40.00 and gave the stock an “outperform” rating in a report on Thursday, October 31st. Bank of America cut shares of Leonardo DRS from a “buy” rating to a “neutral” rating and raised their price target for the stock from $26.00 to $30.00 in a research note on Tuesday, September 24th. Finally, JPMorgan Chase & Co. increased their target price on shares of Leonardo DRS from $29.00 to $32.00 and gave the stock a “neutral” rating in a report on Monday, November 4th.

Leonardo DRS Price Performance

NASDAQ DRS opened at $32.47 on Friday. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.70 and a current ratio of 2.11. The stock has a market cap of $8.58 billion, a price-to-earnings ratio of 43.88, a PEG ratio of 1.76 and a beta of 0.97. The business has a 50 day simple moving average of $33.41 and a 200 day simple moving average of $29.58. Leonardo DRS has a 52-week low of $18.60 and a 52-week high of $37.99.

Leonardo DRS (NASDAQ:DRS) last issued its quarterly earnings data on Wednesday, October 30th. The company reported $0.24 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.20 by $0.04. The company had revenue of $812.00 million during the quarter, compared to the consensus estimate of $775.44 million. Leonardo DRS had a net margin of 6.23% and a return on equity of 9.71%. The firm’s revenue was up 15.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.20 earnings per share. Analysts anticipate that Leonardo DRS will post 0.92 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Leonardo DRS news, SVP Pamela Morrow sold 11,100 shares of Leonardo DRS stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $34.81, for a total value of $386,391.00. Following the completion of the sale, the senior vice president now owns 12,565 shares in the company, valued at $437,387.65. The trade was a 46.90 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO William Lynn III sold 45,000 shares of the stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $34.07, for a total transaction of $1,533,150.00. Following the transaction, the chief executive officer now owns 234,937 shares in the company, valued at approximately $8,004,303.59. The trade was a 16.08 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 94,554 shares of company stock valued at $3,236,679. 0.12% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Leonardo DRS

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Driehaus Capital Management LLC increased its holdings in Leonardo DRS by 4.7% in the 2nd quarter. Driehaus Capital Management LLC now owns 2,281,546 shares of the company’s stock valued at $58,202,000 after buying an additional 102,198 shares during the period. Geode Capital Management LLC increased its stake in Leonardo DRS by 2.7% in the third quarter. Geode Capital Management LLC now owns 1,915,376 shares of the company’s stock valued at $54,061,000 after acquiring an additional 51,014 shares during the last quarter. Franklin Resources Inc. raised its position in Leonardo DRS by 16.6% during the third quarter. Franklin Resources Inc. now owns 1,239,569 shares of the company’s stock valued at $35,371,000 after purchasing an additional 176,326 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its stake in Leonardo DRS by 8.8% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,012,370 shares of the company’s stock worth $28,569,000 after purchasing an additional 82,049 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. boosted its holdings in shares of Leonardo DRS by 71.7% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 921,156 shares of the company’s stock valued at $25,995,000 after purchasing an additional 384,522 shares in the last quarter. 18.76% of the stock is currently owned by institutional investors and hedge funds.

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.