Leonardo DRS (NASDAQ:DRS) Price Target Raised to $32.00

Leonardo DRS (NASDAQ:DRS) had its price objective hoisted by JPMorgan Chase & Co. from $29.00 to $32.00 in a report released on Monday morning, Benzinga reports. The brokerage currently has a neutral rating on the stock.

A number of other brokerages also recently commented on DRS. Truist Financial upped their price objective on shares of Leonardo DRS from $30.00 to $32.00 and gave the stock a “buy” rating in a research report on Wednesday, July 31st. Robert W. Baird raised their price objective on shares of Leonardo DRS from $30.00 to $40.00 and gave the company an “outperform” rating in a research report on Thursday, October 31st. BTIG Research upped their target price on Leonardo DRS from $30.00 to $33.00 and gave the company a “buy” rating in a report on Thursday, August 1st. Finally, Bank of America cut Leonardo DRS from a “buy” rating to a “neutral” rating and raised their price target for the company from $26.00 to $30.00 in a research report on Tuesday, September 24th. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $32.17.

Leonardo DRS Stock Up 7.4 %

DRS stock opened at $35.47 on Monday. The company has a market cap of $9.38 billion, a price-to-earnings ratio of 47.93, a price-to-earnings-growth ratio of 1.98 and a beta of 0.95. The company has a fifty day moving average price of $28.81 and a 200 day moving average price of $26.52. The company has a debt-to-equity ratio of 0.14, a current ratio of 2.11 and a quick ratio of 1.70. Leonardo DRS has a 12 month low of $17.97 and a 12 month high of $35.55.

Leonardo DRS (NASDAQ:DRS) last announced its earnings results on Wednesday, October 30th. The company reported $0.24 EPS for the quarter, beating analysts’ consensus estimates of $0.20 by $0.04. Leonardo DRS had a net margin of 6.23% and a return on equity of 9.71%. The business had revenue of $812.00 million during the quarter, compared to analysts’ expectations of $775.44 million. During the same period in the prior year, the company earned $0.20 earnings per share. The business’s revenue was up 15.5% compared to the same quarter last year. Sell-side analysts expect that Leonardo DRS will post 0.89 earnings per share for the current year.

Institutional Trading of Leonardo DRS

Large investors have recently made changes to their positions in the stock. Nisa Investment Advisors LLC boosted its stake in shares of Leonardo DRS by 1,325.9% during the 2nd quarter. Nisa Investment Advisors LLC now owns 1,155 shares of the company’s stock worth $29,000 after purchasing an additional 1,074 shares during the last quarter. PNC Financial Services Group Inc. purchased a new stake in Leonardo DRS in the 4th quarter worth approximately $35,000. EntryPoint Capital LLC raised 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 valued at $37,000 after acquiring an additional 1,033 shares during the last quarter. Covestor Ltd lifted its stake in shares of Leonardo DRS by 226.8% during the 3rd quarter. Covestor Ltd now owns 1,814 shares of the company’s stock worth $51,000 after purchasing an additional 1,259 shares during the period. Finally, Comerica Bank boosted its holdings in shares of Leonardo DRS by 23.7% during the first quarter. Comerica Bank now owns 2,750 shares of the company’s stock worth $61,000 after purchasing an additional 527 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.