Brokerages Set Leonardo DRS, Inc. (NASDAQ:DRS) Target Price at $32.17

Leonardo DRS, Inc. (NASDAQ:DRS) has been given an average rating of “Moderate Buy” by the six brokerages that are covering the stock, Marketbeat reports. Three equities research analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average 1 year price objective among analysts that have covered the stock in the last year is $32.17.

A number of research firms recently commented on DRS. Bank of America downgraded Leonardo DRS from a “buy” rating to a “neutral” rating and increased their price objective for the stock from $26.00 to $30.00 in a report on Tuesday, September 24th. Robert W. Baird raised their price target on shares of Leonardo DRS from $30.00 to $40.00 and gave the company an “outperform” rating in a report on Thursday, October 31st. Finally, JPMorgan Chase & Co. upped their price objective on shares of Leonardo DRS from $29.00 to $32.00 and gave the stock a “neutral” rating in a report on Monday, November 4th.

Leonardo DRS Price Performance

Shares of NASDAQ:DRS opened at $32.31 on Friday. The company’s fifty day moving average is $33.64 and its two-hundred day moving average is $29.70. The company has a market cap of $8.54 billion, a P/E ratio of 43.66, a price-to-earnings-growth ratio of 1.76 and a beta of 0.97. Leonardo DRS has a 12-month low of $18.60 and a 12-month high of $37.99. The company has a quick ratio of 1.70, a current ratio of 2.11 and a debt-to-equity ratio of 0.14.

Leonardo DRS (NASDAQ:DRS) last issued its earnings results on Wednesday, October 30th. The company reported $0.24 earnings per share for the quarter, beating analysts’ consensus estimates of $0.20 by $0.04. Leonardo DRS had a return on equity of 9.71% and a net margin of 6.23%. The company had revenue of $812.00 million for the quarter, compared to the consensus estimate of $775.44 million. During the same quarter in the prior year, the company earned $0.20 EPS. The firm’s quarterly revenue was up 15.5% on a year-over-year basis. Equities analysts expect that Leonardo DRS will post 0.92 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CFO Michael Dippold sold 25,880 shares of the business’s stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $34.08, for a total value of $881,990.40. Following the sale, the chief financial officer now owns 47,028 shares of the company’s stock, valued at $1,602,714.24. The trade was a 35.50 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO William Lynn III sold 45,000 shares of the stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $34.07, for a total value of $1,533,150.00. Following the transaction, the chief executive officer now owns 234,937 shares of the company’s stock, valued at $8,004,303.59. This represents a 16.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 94,554 shares of company stock valued at $3,236,679 over the last ninety days. 0.12% of the stock is owned by company insiders.

Institutional Trading of Leonardo DRS

Several hedge funds have recently modified their holdings of the company. Janus Henderson Group PLC increased its stake in shares of Leonardo DRS by 4.9% in the third quarter. Janus Henderson Group PLC now owns 291,871 shares of the company’s stock valued at $8,236,000 after buying an additional 13,613 shares in the last quarter. Franklin Resources Inc. raised its stake in shares of Leonardo DRS by 16.6% in the third quarter. Franklin Resources Inc. now owns 1,239,569 shares of the company’s stock worth $35,371,000 after acquiring an additional 176,326 shares during the last quarter. Citigroup Inc. lifted its position in shares of Leonardo DRS by 46.2% during the third quarter. Citigroup Inc. now owns 196,223 shares of the company’s stock worth $5,537,000 after purchasing an additional 62,042 shares in the last quarter. Driehaus Capital Management LLC grew its stake in shares of Leonardo DRS by 4.7% during the second quarter. Driehaus Capital Management LLC now owns 2,281,546 shares of the company’s stock valued at $58,202,000 after purchasing an additional 102,198 shares during the last quarter. Finally, Van ECK Associates Corp acquired a new stake in shares of Leonardo DRS in the second quarter valued at approximately $11,093,000. Institutional investors and hedge funds own 18.76% of the company’s stock.

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.