Leonardo DRS (NASDAQ:DRS – Get Free Report)‘s stock had its “buy” rating reissued by stock analysts at BTIG Research in a research note issued on Monday, Benzinga reports. They currently have a $50.00 price objective on the stock. BTIG Research‘s price objective points to a potential upside of 32.70% from the stock’s current price.
A number of other analysts have also issued reports on the stock. Morgan Stanley dropped their price target on shares of Leonardo DRS from $47.00 to $44.00 and set an “equal weight” rating for the company in a research note on Friday, October 16th. Weiss Ratings lowered Leonardo DRS from a “buy (b-)” rating to a “hold (c+)” rating in a report on Thursday, October 22nd. Oppenheimer initiated coverage on Leonardo DRS in a report on Thursday, October 22nd. They set an “outperform” rating and a $45.00 target price on the stock. JPMorgan Chase & Co. boosted their target price on shares of Leonardo DRS from $48.00 to $53.00 and gave the company a “neutral” rating in a research note on Friday, July 31st. Finally, Guggenheim began coverage on shares of Leonardo DRS in a report on Monday, September 14th. They set a “buy” rating and a $51.00 target price on the stock. Two investment analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $51.38.
View Our Latest Stock Analysis on Leonardo DRS
Leonardo DRS Stock Performance
Shares of Leonardo DRS stock opened at $37.68 on Monday. The company has a current ratio of 1.88, a quick ratio of 1.56 and a debt-to-equity ratio of 0.06. The stock has a market cap of $10.05 billion, a PE ratio of 27.71, a price-to-earnings-growth ratio of 2.15 and a beta of 0.36. Leonardo DRS has a 12-month low of $32.43 and a 12-month high of $50.59. The company has a 50-day moving average of $36.70 and a two-hundred day moving average of $42.18.
Leonardo DRS (NASDAQ:DRS – Get Free Report) last released its quarterly earnings results on Thursday, October 29th. The company reported $0.46 earnings per share for the quarter, topping the consensus estimate of $0.35 by $0.11. The company had revenue of $1.07 billion during the quarter, compared to the consensus estimate of $1.03 billion. Leonardo DRS had a return on equity of 14.33% and a net margin of 9.40%. Leonardo DRS’s revenue was up 11.0% compared to the same quarter last year. During the same quarter last year, the business posted $0.29 earnings per share. On average, research analysts anticipate that Leonardo DRS will post 1.47 EPS for the current fiscal year.
Insider Buying and Selling
In related news, CFO Michael Dippold sold 20,317 shares of the firm’s stock in a transaction that occurred on Wednesday, September 2nd. The stock was sold at an average price of $37.18, for a total value of $755,386.06. Following the sale, the chief financial officer directly owned 35,143 shares in the company, valued at $1,306,616.74. This trade represents a 36.63% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Jason Rinsky sold 3,864 shares of Leonardo DRS stock in a transaction on Tuesday, August 4th. The shares were sold at an average price of $45.81, for a total value of $177,009.84. Following the sale, the executive vice president directly owned 23,581 shares in the company, valued at $1,080,245.61. The trade was a 14.08% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 0.25% of the company’s stock.
Institutional Inflows and Outflows
A number of large investors have recently modified their holdings of DRS. BlackRock Inc. acquired a new position in Leonardo DRS during the 2nd quarter valued at about $212,883,000. Bank of America Corp DE bought a new position in shares of Leonardo DRS in the second quarter valued at approximately $24,941,000. Connor Clark & Lunn Investment Management Ltd. acquired a new position in shares of Leonardo DRS during the second quarter valued at approximately $24,857,000. Bank of New York Mellon Corp raised its holdings in Leonardo DRS by 3.1% during the first quarter. Bank of New York Mellon Corp now owns 517,166 shares of the company’s stock worth $23,024,000 after purchasing an additional 15,349 shares in the last quarter. Finally, Ieq Capital LLC acquired a new stake in Leonardo DRS in the second quarter worth approximately $8,705,000. 18.76% of the stock is owned by institutional investors and hedge funds.
About Leonardo DRS
Leonardo DRS, Inc is a defense technology company that develops and supplies advanced products and systems for the U.S. military and government customers, as well as allied nations. The company operates as a subsidiary of Leonardo S.p.A. and focuses on technologies used in land, sea, air and space-related defense applications.
Its offerings include sensing and surveillance systems, electro-optical and infrared technologies, radar and electronic warfare products, network computing and communications systems, counter-uncrewed aircraft systems, force protection equipment, and naval power and propulsion systems.
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