Leonardo DRS (NASDAQ:DRS) PT Raised to $30.00 at Robert W. Baird

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

A number of other brokerages also recently weighed in on DRS. Morgan Stanley initiated coverage on Leonardo DRS in a report on Friday, May 24th. They issued an equal weight rating and a $26.00 target price for the company. BTIG Research began coverage on shares of Leonardo DRS in a research report on Wednesday, June 26th. They issued a buy rating and a $30.00 price target on the stock. Finally, Truist Financial lifted their price objective on shares of Leonardo DRS from $27.00 to $30.00 and gave the stock a buy rating in a report on Wednesday, July 17th. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, Leonardo DRS has a consensus rating of Moderate Buy and an average target price of $28.50.

Leonardo DRS Stock Down 4.4 %

Leonardo DRS stock opened at $26.51 on Wednesday. The firm has a market cap of $6.99 billion, a price-to-earnings ratio of 37.87, a PEG ratio of 2.01 and a beta of 0.89. 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 firm has a 50 day moving average price of $25.94 and a two-hundred day moving average price of $23.00.

Leonardo DRS (NASDAQ:DRS) last announced its earnings results on Tuesday, July 30th. The company reported $0.18 earnings per share for the quarter, topping analysts’ consensus estimates of $0.14 by $0.04. The business had revenue of $753.00 million during the quarter, compared to the consensus estimate of $680.38 million. Leonardo DRS had a net margin of 6.12% and a return on equity of 9.48%. Leonardo DRS’s quarterly revenue was up 19.9% on a year-over-year basis. During the same quarter last year, the firm earned $0.15 earnings per share. Equities analysts predict that Leonardo DRS will post 0.84 EPS for the current year.

Hedge Funds Weigh In On Leonardo DRS

Several institutional investors have recently bought and sold shares of DRS. Nisa Investment Advisors LLC raised its stake in shares of Leonardo DRS by 1,325.9% in the second quarter. Nisa Investment Advisors LLC now owns 1,155 shares of the company’s stock valued at $29,000 after buying an additional 1,074 shares during the period. EntryPoint Capital LLC increased its holdings in Leonardo DRS by 165.8% in the 1st quarter. EntryPoint Capital LLC now owns 1,656 shares of the company’s stock worth $37,000 after acquiring an additional 1,033 shares during the last quarter. PNC Financial Services Group Inc. bought a new stake in Leonardo DRS in the 4th quarter valued at about $35,000. Harel Insurance Investments & Financial Services Ltd. bought a new stake in Leonardo DRS in the 1st quarter valued at about $50,000. Finally, Comerica Bank lifted its holdings in Leonardo DRS by 23.7% during the first quarter. Comerica Bank now owns 2,750 shares of the company’s stock valued at $61,000 after purchasing an additional 527 shares during the last quarter. Hedge funds and other institutional investors 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.