Leonardo DRS, Inc. (NASDAQ:DRS) Given Consensus Recommendation of “Moderate Buy” by Analysts

Leonardo DRS, Inc. (NASDAQ:DRS) has been assigned a consensus recommendation of “Moderate Buy” from the six brokerages that are currently covering the firm, Marketbeat Ratings reports. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average 12-month price objective among analysts that have issued ratings on the stock in the last year is $29.17.

DRS has been the subject of several recent analyst reports. BTIG Research lifted their target price on shares of Leonardo DRS from $30.00 to $33.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. Truist Financial boosted their price objective on shares of Leonardo DRS from $30.00 to $32.00 and gave the stock a “buy” rating in a report on Wednesday, July 31st. Bank of America lowered Leonardo DRS from a “buy” rating to a “neutral” rating and lifted their target price for the stock from $26.00 to $30.00 in a report on Tuesday. Finally, Robert W. Baird lifted their target price on Leonardo DRS from $26.00 to $30.00 and gave the stock an “outperform” rating in a report on Wednesday, July 31st.

Leonardo DRS Stock Performance

Shares of DRS opened at $27.52 on Thursday. Leonardo DRS has a 52 week low of $15.81 and a 52 week high of $29.85. The company has a quick ratio of 1.60, a current ratio of 2.01 and a debt-to-equity ratio of 0.15. The stock has a market cap of $7.24 billion, a P/E ratio of 39.31, a P/E/G ratio of 2.07 and a beta of 0.96. The business’s 50 day moving average price is $27.71 and its 200-day moving average price is $24.82.

Leonardo DRS (NASDAQ:DRS) last released its 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. The firm had revenue of $753.00 million for the quarter, compared to analysts’ expectations of $680.38 million. Leonardo DRS had a return on equity of 9.48% and a net margin of 6.12%. The company’s quarterly revenue was up 19.9% on a year-over-year basis. During the same period in the prior year, the firm posted $0.15 earnings per share. Equities research analysts anticipate that Leonardo DRS will post 0.84 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Leonardo DRS

Several hedge funds and other institutional investors have recently modified their holdings of DRS. Vanguard Group Inc. increased its position in Leonardo DRS by 2.2% during the first quarter. Vanguard Group Inc. now owns 7,554,321 shares of the company’s stock valued at $166,875,000 after acquiring an additional 164,971 shares during the last quarter. Driehaus Capital Management LLC lifted its stake in shares of Leonardo DRS by 4.7% in the 2nd quarter. Driehaus Capital Management LLC now owns 2,281,546 shares of the company’s stock worth $58,202,000 after purchasing an additional 102,198 shares during the period. Price T Rowe Associates Inc. MD boosted its holdings in shares of Leonardo DRS by 15.4% in the first quarter. Price T Rowe Associates Inc. MD now owns 2,180,347 shares of the company’s stock worth $48,165,000 after buying an additional 290,188 shares during the last quarter. Charles Schwab Investment Management Inc. increased its holdings in Leonardo DRS by 37.4% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 768,420 shares of the company’s stock valued at $15,399,000 after buying an additional 209,005 shares during the last quarter. Finally, Kennedy Capital Management LLC raised its position in Leonardo DRS by 1.8% in the first quarter. Kennedy Capital Management LLC now owns 768,163 shares of the company’s stock worth $16,969,000 after acquiring an additional 13,830 shares during the period. 18.76% of the stock is owned by institutional investors.

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.