Leonardo DRS (NASDAQ:DRS) Now Covered by BTIG Research

BTIG Research began coverage on shares of Leonardo DRS (NASDAQ:DRS) in a research note published on Wednesday, Marketbeat reports. The brokerage issued a buy rating and a $30.00 price target on the stock.

Several other research firms have also issued reports on DRS. Truist Financial upped their target price on Leonardo DRS from $25.00 to $27.00 and gave the stock a buy rating in a report on Wednesday, June 5th. Bank of America upped their target price on Leonardo DRS from $22.00 to $26.00 and gave the stock a buy rating in a report on Friday, March 15th. JPMorgan Chase & Co. dropped their price objective on Leonardo DRS from $25.00 to $24.00 and set a neutral rating on the stock in a research note on Friday, March 15th. Finally, Morgan Stanley began coverage on Leonardo DRS in a research note on Friday, May 24th. They issued an equal weight rating and a $26.00 price objective on the stock. Two analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of Moderate Buy and an average target price of $26.60.

Leonardo DRS Stock Down 0.2 %

DRS stock opened at $25.51 on Wednesday. Leonardo DRS has a fifty-two week low of $15.75 and a fifty-two week high of $26.63. The stock has a market capitalization of $6.71 billion, a P/E ratio of 36.44, a P/E/G ratio of 1.94 and a beta of 0.82. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.96 and a quick ratio of 1.59. The business has a 50-day moving average of $23.54 and a 200-day moving average of $21.61.

Leonardo DRS (NASDAQ:DRS) last released its earnings results on Wednesday, May 1st. The company reported $0.14 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.11 by $0.03. Leonardo DRS had a return on equity of 9.35% and a net margin of 6.28%. The business had revenue of $688.00 million for the quarter, compared to analyst estimates of $645.56 million. During the same quarter in the prior year, the company posted $0.07 earnings per share. Leonardo DRS’s revenue was up 20.9% on a year-over-year basis. On average, sell-side analysts anticipate that Leonardo DRS will post 0.81 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Leonardo DRS

A number of large investors have recently made changes to their positions in the company. Comerica Bank increased its stake in shares of Leonardo DRS by 23.7% during the first quarter. Comerica Bank now owns 2,750 shares of the company’s stock worth $61,000 after purchasing an additional 527 shares during the period. Tidal Investments LLC bought a new position in shares of Leonardo DRS during the first quarter worth approximately $1,265,000. California State Teachers Retirement System increased its stake in shares of Leonardo DRS by 33.9% during the first quarter. California State Teachers Retirement System now owns 77,704 shares of the company’s stock worth $1,716,000 after purchasing an additional 19,673 shares during the period. Jacobs Levy Equity Management Inc. bought a new position in shares of Leonardo DRS during the first quarter worth approximately $1,276,000. Finally, Janus Henderson Group PLC increased its stake in shares of Leonardo DRS by 97.2% during the first quarter. Janus Henderson Group PLC now owns 41,196 shares of the company’s stock worth $909,000 after purchasing an additional 20,302 shares during the period. Institutional investors 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.