Leonardo DRS, Inc. (NASDAQ:DRS) Short Interest Down 6.6% in September

Leonardo DRS, Inc. (NASDAQ:DRS) was the recipient of a significant drop in short interest in the month of September. As of September 15th, there was short interest totalling 1,970,000 shares, a drop of 6.6% from the August 31st total of 2,110,000 shares. Based on an average trading volume of 609,500 shares, the short-interest ratio is presently 3.2 days. Currently, 2.7% of the company’s stock are sold short.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on the company. Robert W. Baird raised their target price on Leonardo DRS from $26.00 to $30.00 and gave the company an “outperform” rating in a report on Wednesday, July 31st. BTIG Research raised 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. Truist Financial raised their target price on Leonardo DRS from $30.00 to $32.00 and gave the company a “buy” rating in a report on Wednesday, July 31st. Finally, Bank of America lowered Leonardo DRS from a “buy” rating to a “neutral” rating and raised their target price for the company from $26.00 to $30.00 in a report on Tuesday, September 24th. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $29.17.

Hedge Funds Weigh In On Leonardo DRS

A number of hedge funds and other institutional investors have recently modified their holdings of DRS. Vanguard Group Inc. lifted its stake in shares of Leonardo DRS by 50.8% in the 4th 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 during the last quarter. Swiss National Bank lifted its holdings in shares of Leonardo DRS by 50.5% during the 1st quarter. Swiss National Bank now owns 155,300 shares of the company’s stock valued at $3,431,000 after buying an additional 52,100 shares during the period. California State Teachers Retirement System lifted its holdings in shares of Leonardo DRS by 33.9% during the 1st quarter. California State Teachers Retirement System now owns 77,704 shares of the company’s stock valued at $1,716,000 after buying an additional 19,673 shares during the period. Cannon Global Investment Management LLC bought a new position in shares of Leonardo DRS during the 1st quarter valued at $725,000. Finally, Price T Rowe Associates Inc. MD lifted its holdings in shares of Leonardo DRS by 15.4% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 2,180,347 shares of the company’s stock valued at $48,165,000 after buying an additional 290,188 shares during the period. 18.76% of the stock is currently owned by hedge funds and other institutional investors.

Leonardo DRS Stock Performance

Shares of DRS opened at $29.70 on Wednesday. The firm has a market cap of $7.82 billion, a PE ratio of 42.43, a PEG ratio of 1.94 and a beta of 0.96. Leonardo DRS has a 1 year low of $15.81 and a 1 year high of $29.87. 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 stock’s fifty day moving average price is $27.72 and its two-hundred day moving average price is $25.02.

Leonardo DRS (NASDAQ:DRS) last posted its 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 return on equity of 9.48% and a net margin of 6.12%. The business had revenue of $753.00 million during the quarter, compared to analysts’ expectations of $680.38 million. During the same period in the previous year, the business earned $0.15 earnings per share. The firm’s revenue was up 19.9% on a year-over-year basis. On average, equities research analysts forecast that Leonardo DRS will post 0.86 EPS for the current year.

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.