Leonardo DRS (NASDAQ:DRS) Downgraded by Bank of America

Bank of America downgraded shares of Leonardo DRS (NASDAQ:DRS) from a buy rating to a neutral rating in a report released on Tuesday morning, Marketbeat reports. Bank of America currently has $30.00 price objective on the stock, up from their prior price objective of $26.00.

Several other equities research analysts have also commented on DRS. Robert W. Baird lifted their price target on shares of Leonardo DRS from $26.00 to $30.00 and gave the stock an outperform rating in a research note on Wednesday, July 31st. BTIG Research lifted their price target on shares of Leonardo DRS from $30.00 to $33.00 and gave the stock a buy rating in a research note on Thursday, August 1st. Finally, Truist Financial lifted their price objective on shares of Leonardo DRS from $30.00 to $32.00 and gave the company a buy rating in a research note on Wednesday, July 31st. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of Moderate Buy and an average target price of $29.17.

Leonardo DRS Price Performance

Shares of NASDAQ:DRS opened at $27.77 on Tuesday. The company’s fifty day moving average price is $27.70 and its 200 day moving average price is $24.84. Leonardo DRS has a 12 month low of $15.81 and a 12 month high of $29.85. The company has a debt-to-equity ratio of 0.15, a current ratio of 2.01 and a quick ratio of 1.60. The firm has a market capitalization of $7.31 billion, a P/E ratio of 39.67, a P/E/G ratio of 2.07 and a beta of 0.96.

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

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. boosted its holdings in shares of Leonardo DRS by 50.8% in the fourth quarter. Vanguard Group Inc. now owns 7,389,350 shares of the company’s stock valued at $148,083,000 after acquiring an additional 2,490,447 shares in the last quarter. Swiss National Bank boosted its holdings in shares of Leonardo DRS by 50.5% in the first quarter. Swiss National Bank now owns 155,300 shares of the company’s stock valued at $3,431,000 after acquiring an additional 52,100 shares in the last quarter. California State Teachers Retirement System boosted its holdings in shares of Leonardo DRS by 33.9% in the first quarter. California State Teachers Retirement System now owns 77,704 shares of the company’s stock valued at $1,716,000 after acquiring an additional 19,673 shares in the last quarter. Cannon Global Investment Management LLC purchased a new stake in shares of Leonardo DRS in the first quarter valued at about $725,000. Finally, 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 valued at $48,165,000 after acquiring an additional 290,188 shares in the last quarter. 18.76% of the stock is currently owned by institutional investors and hedge funds.

Leonardo DRS Company Profile

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.