Leonardo DRS (NASDAQ:DRS) Hits New 12-Month High at $26.67

Leonardo DRS, Inc. (NASDAQ:DRS)’s share price hit a new 52-week high during trading on Wednesday . The company traded as high as $26.67 and last traded at $26.67, with a volume of 448539 shares. The stock had previously closed at $25.95.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on DRS shares. BTIG Research started coverage on Leonardo DRS in a research note on Wednesday, June 26th. They set a “buy” rating and a $30.00 price target on the stock. Bank of America boosted their price target on Leonardo DRS from $22.00 to $26.00 and gave the stock a “buy” rating in a research note on Friday, March 15th. Truist Financial boosted their price target on Leonardo DRS from $25.00 to $27.00 and gave the stock a “buy” rating in a research note on Wednesday, June 5th. JPMorgan Chase & Co. dropped their price target on Leonardo DRS from $25.00 to $24.00 and set a “neutral” rating on the stock in a research note on Friday, March 15th. Finally, Morgan Stanley assumed coverage on Leonardo DRS in a research report on Friday, May 24th. They issued an “equal weight” rating and a $26.00 target price on the stock. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $26.60.

Leonardo DRS Price Performance

The company has a market capitalization of $7.01 billion, a price-to-earnings ratio of 38.11, a P/E/G ratio of 2.02 and a beta of 0.89. The stock has a fifty day simple moving average of $24.37 and a 200-day simple moving average of $22.03. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.96 and a quick ratio of 1.59.

Leonardo DRS (NASDAQ:DRS) last announced its quarterly earnings results on Wednesday, May 1st. The company reported $0.14 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.11 by $0.03. Leonardo DRS had a return on equity of 9.35% and a net margin of 6.28%. The company had revenue of $688.00 million during the quarter, compared to the consensus estimate of $645.56 million. During the same period in the previous year, the company posted $0.07 earnings per share. Leonardo DRS’s revenue for the quarter was up 20.9% on a year-over-year basis. On average, equities research analysts anticipate that Leonardo DRS, Inc. will post 0.81 EPS for the current year.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the business. Vanguard Group Inc. raised its stake 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 purchasing an additional 2,490,447 shares during the last quarter. Victory Capital Management Inc. grew its holdings in Leonardo DRS by 5,608.1% in the 4th quarter. Victory Capital Management Inc. now owns 960,731 shares of the company’s stock valued at $19,253,000 after buying an additional 943,900 shares in the last quarter. Ghisallo Capital Management LLC purchased a new stake in Leonardo DRS in the 4th quarter valued at $13,795,000. 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. Finally, Price T Rowe Associates Inc. MD grew its holdings in Leonardo DRS by 15.4% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 2,180,347 shares of the company’s stock valued at $48,165,000 after buying an additional 290,188 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.