Bank of America Downgrades Leonardo DRS (NASDAQ:DRS) to Neutral

Bank of America lowered shares of Leonardo DRS (NASDAQ:DRS) from a buy rating to a neutral rating in a research report released on Tuesday morning, Marketbeat Ratings reports. They currently have $30.00 target price on the stock, up from their previous target price of $26.00.

DRS has been the subject of a number of other research reports. BTIG Research raised their price objective on Leonardo DRS from $30.00 to $33.00 and gave the company a buy rating in a research report on Thursday, August 1st. Robert W. Baird increased their price target on shares of Leonardo DRS from $26.00 to $30.00 and gave the company an outperform rating in a report on Wednesday, July 31st. Finally, Truist Financial increased their price target on shares of Leonardo DRS from $30.00 to $32.00 and gave the company a buy rating in a report on Wednesday, July 31st. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, Leonardo DRS presently has an average rating of Moderate Buy and an average target price of $29.17.

Leonardo DRS Trading Up 0.4 %

Shares of DRS stock opened at $27.87 on Tuesday. The company has a market cap of $7.33 billion, a price-to-earnings ratio of 39.81, a PEG ratio of 2.07 and a beta of 0.96. 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 firm has a fifty day moving average price of $27.70 and a 200-day moving average price of $24.90. Leonardo DRS has a 1 year low of $15.81 and a 1 year high of $29.85.

Leonardo DRS (NASDAQ:DRS) last issued its quarterly earnings results on Tuesday, July 30th. The company reported $0.18 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 analyst estimates of $680.38 million. During the same quarter in the prior year, the business posted $0.15 EPS. Leonardo DRS’s revenue for the quarter was up 19.9% compared to the same quarter last year. As a group, equities analysts predict that Leonardo DRS will post 0.84 earnings per share for the current year.

Hedge Funds Weigh In On Leonardo DRS

Several institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. increased its holdings in Leonardo DRS by 2.2% during the first quarter. Vanguard Group Inc. now owns 7,554,321 shares of the company’s stock valued at $166,875,000 after buying an additional 164,971 shares during the period. Driehaus Capital Management LLC grew its holdings in Leonardo DRS by 4.7% in the second quarter. Driehaus Capital Management LLC now owns 2,281,546 shares of the company’s stock worth $58,202,000 after purchasing an additional 102,198 shares during the last quarter. Price T Rowe Associates Inc. MD grew 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 worth $48,165,000 after purchasing an additional 290,188 shares during the last quarter. Charles Schwab Investment Management Inc. grew its holdings in Leonardo DRS by 37.4% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 768,420 shares of the company’s stock worth $15,399,000 after purchasing an additional 209,005 shares during the last quarter. Finally, Kennedy Capital Management LLC grew its holdings in Leonardo DRS by 1.8% in the first quarter. Kennedy Capital Management LLC now owns 768,163 shares of the company’s stock worth $16,969,000 after purchasing an additional 13,830 shares during the last quarter. 18.76% of the stock is 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.