Leonardo DRS, Inc. (NASDAQ:DRS) Receives $28.50 Average Target Price from Analysts

Leonardo DRS, Inc. (NASDAQ:DRS) has been given an average rating of “Moderate Buy” by the six brokerages that are covering the firm, Marketbeat reports. Two analysts have rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average 1 year price target among brokers that have issued ratings on the stock in the last year is $28.50.

Several research firms recently issued reports on DRS. Truist Financial increased their target price on Leonardo DRS from $30.00 to $32.00 and gave the stock a “buy” rating in a research note on Wednesday, July 31st. BTIG Research increased their price target on shares of Leonardo DRS from $30.00 to $33.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. Finally, Robert W. Baird lifted their price objective on shares of Leonardo DRS from $26.00 to $30.00 and gave the company an “outperform” rating in a report on Wednesday, July 31st.

Leonardo DRS Price Performance

Shares of DRS opened at $28.41 on Thursday. The firm has a 50-day simple moving average of $27.70 and a two-hundred day simple moving average of $24.75. The company has a debt-to-equity ratio of 0.15, a current ratio of 2.01 and a quick ratio of 1.60. Leonardo DRS has a 1-year low of $15.81 and a 1-year high of $29.85. The stock has a market cap of $7.48 billion, a PE ratio of 40.59, a P/E/G ratio of 2.02 and a beta of 0.96.

Leonardo DRS (NASDAQ:DRS) last posted 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 firm had revenue of $753.00 million during the quarter, compared to the consensus estimate of $680.38 million. During the same quarter last year, the firm earned $0.15 EPS. The firm’s revenue for the quarter was up 19.9% on a year-over-year basis. As a group, analysts forecast that Leonardo DRS will post 0.84 EPS for the current year.

Institutional Trading of Leonardo DRS

Several hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its stake in Leonardo DRS by 50.8% in the fourth quarter. Vanguard Group Inc. now owns 7,389,350 shares of the company’s stock valued at $148,083,000 after buying an additional 2,490,447 shares in the last quarter. Swiss National Bank raised its position in shares of Leonardo DRS by 50.5% during the 1st quarter. Swiss National Bank now owns 155,300 shares of the company’s stock worth $3,431,000 after acquiring an additional 52,100 shares in the last quarter. California State Teachers Retirement System lifted its stake in Leonardo DRS by 33.9% during the first quarter. California State Teachers Retirement System now owns 77,704 shares of the company’s stock worth $1,716,000 after purchasing an additional 19,673 shares during the last quarter. Cannon Global Investment Management LLC acquired a new position in Leonardo DRS in the first quarter valued at approximately $725,000. Finally, Price T Rowe Associates Inc. MD increased its stake in Leonardo DRS by 15.4% in the first quarter. Price T Rowe Associates Inc. MD now owns 2,180,347 shares of the company’s stock valued at $48,165,000 after purchasing an additional 290,188 shares during the last quarter. Institutional investors and hedge funds own 18.76% of the company’s stock.

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.