BTIG Research Begins Coverage on Leonardo DRS (NASDAQ:DRS)

BTIG Research initiated coverage on shares of Leonardo DRS (NASDAQ:DRS) in a research note released on Wednesday morning, MarketBeat reports. The firm issued a buy rating and a $30.00 price target on the stock.

Several other brokerages also recently issued reports on DRS. Truist Financial boosted their price target on shares of Leonardo DRS from $25.00 to $27.00 and gave the company a buy rating in a report on Wednesday, June 5th. Bank of America upped their target price on shares of Leonardo DRS from $22.00 to $26.00 and gave the stock a buy rating in a research report on Friday, March 15th. JPMorgan Chase & Co. cut their price target on Leonardo DRS from $25.00 to $24.00 and set a neutral rating on the stock in a report on Friday, March 15th. Finally, Morgan Stanley started coverage on Leonardo DRS in a report on Friday, May 24th. They issued an equal weight rating and a $26.00 price objective for the company. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of Moderate Buy and an average target price of $26.60.

Leonardo DRS Price Performance

DRS opened at $25.51 on Wednesday. The company has a quick ratio of 1.59, a current ratio of 1.96 and a debt-to-equity ratio of 0.15. The company’s 50-day moving average price is $23.54 and its 200 day moving average price is $21.61. Leonardo DRS has a fifty-two week low of $15.75 and a fifty-two week high of $26.63. The firm has a market cap of $6.71 billion, a price-to-earnings ratio of 36.44, a price-to-earnings-growth ratio of 1.96 and a beta of 0.82.

Leonardo DRS (NASDAQ:DRS) last posted its earnings results on Wednesday, May 1st. The company reported $0.14 EPS for the quarter, beating the consensus estimate 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 analyst estimates of $645.56 million. During the same period in the prior year, the company earned $0.07 earnings per share. The business’s revenue was up 20.9% compared to the same quarter last year. As a group, sell-side analysts expect that Leonardo DRS will post 0.81 earnings per share for the current year.

Institutional Investors Weigh In On Leonardo DRS

A number of institutional investors have recently added to or reduced their stakes in DRS. Charles Schwab Investment Management Inc. boosted its position in shares of Leonardo DRS by 11.6% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 559,415 shares of the company’s stock valued at $9,342,000 after purchasing an additional 58,353 shares in the last quarter. Natixis Advisors L.P. grew its position in Leonardo DRS by 3.5% in the third quarter. Natixis Advisors L.P. now owns 98,948 shares of the company’s stock worth $1,653,000 after buying an additional 3,353 shares during the last quarter. Trexquant Investment LP bought a new position in shares of Leonardo DRS in the third quarter valued at $415,000. Glenmede Trust Co. NA acquired a new stake in shares of Leonardo DRS during the 3rd quarter valued at $550,000. Finally, Vanguard Group Inc. boosted its stake in shares of Leonardo DRS by 1.6% during the 3rd quarter. Vanguard Group Inc. now owns 4,898,903 shares of the company’s stock worth $81,812,000 after acquiring an additional 76,109 shares in the last quarter. 18.76% of the stock is currently 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.