Leonardo DRS (NASDAQ:DRS) Rating Increased to Buy at Bank of America

Leonardo DRS (NASDAQ:DRS) was upgraded by analysts at Bank of America from a “neutral” rating to a “buy” rating in a research note issued on Friday, MarketBeat Ratings reports. The brokerage presently has a $40.00 target price on the stock. Bank of America‘s price target indicates a potential upside of 27.96% from the company’s current price.

Other equities analysts have also issued research reports about the company. Truist Financial raised their price target on Leonardo DRS from $36.00 to $37.00 and gave the stock a “buy” rating in a report on Tuesday, January 14th. JPMorgan Chase & Co. raised their price target on Leonardo DRS from $32.00 to $33.00 and gave the stock a “neutral” rating in a report on Friday, February 21st. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $34.83.

Leonardo DRS Stock Up 4.8 %

DRS opened at $31.26 on Friday. The business’s 50-day simple moving average is $32.97 and its 200-day simple moving average is $31.72. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.70 and a current ratio of 2.11. Leonardo DRS has a one year low of $19.88 and a one year high of $37.99. The stock has a market capitalization of $8.29 billion, a P/E ratio of 39.57, a price-to-earnings-growth ratio of 1.41 and a beta of 0.98.

Leonardo DRS (NASDAQ:DRS) last posted its earnings results on Thursday, February 20th. The company reported $0.38 EPS for the quarter, topping analysts’ consensus estimates of $0.36 by $0.02. Leonardo DRS had a return on equity of 10.37% and a net margin of 6.59%. The business had revenue of $981.00 million for the quarter, compared to analysts’ expectations of $942.18 million. Analysts anticipate that Leonardo DRS will post 1.04 EPS for the current year.

Leonardo DRS announced that its Board of Directors has authorized a share buyback plan on Thursday, February 20th that allows the company to repurchase $75.00 million in outstanding shares. This repurchase authorization allows the company to reacquire up to 0.9% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s management believes its shares are undervalued.

Insider Buying and Selling at Leonardo DRS

In other news, COO John Baylouny sold 3,529 shares of Leonardo DRS stock in a transaction that occurred on Wednesday, January 8th. The shares were sold at an average price of $31.90, for a total transaction of $112,575.10. Following the completion of the sale, the chief operating officer now directly owns 78,334 shares in the company, valued at approximately $2,498,854.60. This trade represents a 4.31 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Eric Salzman sold 3,477 shares of Leonardo DRS stock in a transaction that occurred on Tuesday, February 11th. The shares were sold at an average price of $34.59, for a total transaction of $120,269.43. Following the sale, the director now owns 13,262 shares of the company’s stock, valued at approximately $458,732.58. The trade was a 20.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 63,770 shares of company stock valued at $2,226,047. 0.12% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Leonardo DRS

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in shares of Leonardo DRS during the 4th quarter valued at approximately $5,454,000. Mackenzie Financial Corp acquired a new stake in shares of Leonardo DRS during the 4th quarter valued at approximately $570,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of Leonardo DRS by 29.8% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 135,762 shares of the company’s stock valued at $4,386,000 after acquiring an additional 31,185 shares during the period. Vident Advisory LLC lifted its position in shares of Leonardo DRS by 34.5% during the 4th quarter. Vident Advisory LLC now owns 47,363 shares of the company’s stock valued at $1,530,000 after acquiring an additional 12,153 shares during the period. Finally, Virtus Fund Advisers LLC acquired a new position in shares of Leonardo DRS during the 4th quarter worth approximately $116,000. 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.