Truist Financial Boosts Leonardo DRS (NASDAQ:DRS) Price Target to $32.00

Leonardo DRS (NASDAQ:DRS) had its target price lifted by equities researchers at Truist Financial from $30.00 to $32.00 in a research report issued on Wednesday, Benzinga reports. The firm presently has a “buy” rating on the stock. Truist Financial’s target price would indicate a potential upside of 14.61% from the company’s previous close.

A number of other research analysts also recently commented on DRS. Robert W. Baird increased their target price on shares of Leonardo DRS from $26.00 to $30.00 and gave the company an “outperform” rating in a research report on Wednesday. BTIG Research began coverage on shares of Leonardo DRS in a research note on Wednesday, June 26th. They issued a “buy” rating and a $30.00 target price for the company. Finally, Morgan Stanley assumed coverage on shares of Leonardo DRS in a research note on Friday, May 24th. They issued an “equal weight” rating and a $26.00 target price for the company. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $28.00.

Leonardo DRS Price Performance

Shares of Leonardo DRS stock traded down $0.08 during trading hours on Wednesday, reaching $27.92. The stock had a trading volume of 92,384 shares, compared to its average volume of 633,049. The stock’s 50 day moving average is $25.72 and its 200 day moving average is $22.85. The firm has a market capitalization of $7.35 billion, a PE ratio of 39.89, a PEG ratio of 2.13 and a beta of 0.89. Leonardo DRS has a twelve month low of $15.75 and a twelve month high of $29.85. The company has a current ratio of 1.96, a quick ratio of 1.59 and a debt-to-equity ratio of 0.15.

Leonardo DRS (NASDAQ:DRS) last posted its earnings results on Tuesday, July 30th. The company reported $0.18 earnings per share for the quarter, beating the consensus estimate of $0.14 by $0.04. The company had revenue of $753.00 million for the quarter, compared to analyst estimates of $680.38 million. Leonardo DRS had a net margin of 6.28% and a return on equity of 9.35%. Leonardo DRS’s revenue was up 19.9% on a year-over-year basis. During the same period in the previous year, the business posted $0.15 EPS. Equities analysts expect that Leonardo DRS will post 0.81 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Leonardo DRS

A number of hedge funds and other institutional investors have recently modified their holdings of DRS. Vanguard Group Inc. grew its holdings in shares of Leonardo DRS by 50.8% during the fourth quarter. Vanguard Group Inc. now owns 7,389,350 shares of the company’s stock worth $148,083,000 after buying an additional 2,490,447 shares in the last quarter. Victory Capital Management Inc. lifted its position in Leonardo DRS by 5,608.1% during the fourth quarter. Victory Capital Management Inc. now owns 960,731 shares of the company’s stock valued at $19,253,000 after buying an additional 943,900 shares in the last quarter. Ghisallo Capital Management LLC acquired a new position in Leonardo DRS during the fourth quarter valued at approximately $13,795,000. Motley Fool Asset Management LLC raised its holdings in Leonardo DRS by 289.3% in the first quarter. Motley Fool Asset Management LLC now owns 537,536 shares of the company’s stock valued at $11,874,000 after acquiring an additional 399,456 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD raised its holdings in 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 hedge funds and other 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.