Leonardo DRS (NASDAQ:DRS) Price Target Raised to $30.00

Leonardo DRS (NASDAQ:DRS) had its price objective hoisted by Robert W. Baird from $26.00 to $30.00 in a report issued on Wednesday, Benzinga reports. Robert W. Baird currently has an outperform rating on the stock.

DRS has been the subject of a number of other research reports. BTIG Research began coverage on Leonardo DRS in a report on Wednesday, June 26th. They set a buy rating and a $30.00 price target for the company. Morgan Stanley began coverage on Leonardo DRS in a report on Friday, May 24th. They set an equal weight rating and a $26.00 price objective for the company. Finally, Truist Financial boosted their price objective on Leonardo DRS from $27.00 to $30.00 and gave the stock a buy rating in a report on Wednesday, July 17th. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of Moderate Buy and an average target price of $28.50.

Leonardo DRS Trading Down 4.4 %

Leonardo DRS stock opened at $26.51 on Wednesday. Leonardo DRS has a 52 week low of $15.75 and a 52 week high of $29.85. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.59 and a current ratio of 2.01. The stock has a market capitalization of $6.99 billion, a P/E ratio of 37.87, a PEG ratio of 2.01 and a beta of 0.89. The stock has a 50-day simple moving average of $25.94 and a 200 day simple moving average of $22.97.

Leonardo DRS (NASDAQ:DRS) last posted its quarterly earnings results on Tuesday, July 30th. The company reported $0.18 EPS for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $680.38 million. During the same quarter last year, the company posted $0.15 earnings per share. Leonardo DRS’s quarterly revenue was up 19.9% on a year-over-year basis. Analysts expect that Leonardo DRS will post 0.84 earnings per share for the current year.

Institutional Investors Weigh In On Leonardo DRS

Several institutional investors have recently made changes to their positions in DRS. Vanguard Group Inc. boosted its stake in shares of 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 during the period. Victory Capital Management Inc. lifted its stake in Leonardo DRS by 5,608.1% during the fourth quarter. Victory Capital Management Inc. now owns 960,731 shares of the company’s stock worth $19,253,000 after purchasing an additional 943,900 shares during the last quarter. Ghisallo Capital Management LLC bought a new stake in Leonardo DRS during the fourth quarter worth $13,795,000. Van ECK Associates Corp bought a new stake in Leonardo DRS during the second quarter worth $11,093,000. Finally, Motley Fool Asset Management LLC lifted its stake in Leonardo DRS by 289.3% during the first quarter. Motley Fool Asset Management LLC now owns 537,536 shares of the company’s stock worth $11,874,000 after purchasing an additional 399,456 shares during the last quarter. 18.76% of the stock is currently owned by institutional investors.

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.