JPMorgan Chase & Co. Increases Leonardo DRS (NASDAQ:DRS) Price Target to $32.00

Leonardo DRS (NASDAQ:DRS) had its target price increased by JPMorgan Chase & Co. from $29.00 to $32.00 in a research note released on Monday morning, Benzinga reports. They currently have a neutral rating on the stock.

Other analysts also recently issued reports about the stock. Robert W. Baird lifted their price objective 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. Bank of America cut shares of Leonardo DRS from a “buy” rating to a “neutral” rating and increased their price target for the company from $26.00 to $30.00 in a report on Tuesday, September 24th. BTIG Research lifted their price target on shares of Leonardo DRS from $30.00 to $33.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. Finally, Truist Financial upped their price objective on shares of Leonardo DRS from $30.00 to $32.00 and gave the stock a “buy” rating in a research report on Wednesday, July 31st. Three research 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 company presently has an average rating of “Moderate Buy” and a consensus price target of $32.17.

Leonardo DRS Stock Up 2.6 %

Shares of DRS stock opened at $31.51 on Monday. Leonardo DRS has a 12-month low of $17.97 and a 12-month high of $33.29. The company has a quick ratio of 1.70, a current ratio of 2.11 and a debt-to-equity ratio of 0.14. The firm has a fifty day moving average of $28.55 and a 200-day moving average of $26.37. The company has a market capitalization of $8.33 billion, a price-to-earnings ratio of 42.58, a P/E/G ratio of 1.93 and a beta of 0.95.

Leonardo DRS (NASDAQ:DRS) last released its earnings results on Wednesday, October 30th. The company reported $0.24 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.20 by $0.04. The firm had revenue of $812.00 million during the quarter, compared to analysts’ expectations of $775.44 million. Leonardo DRS had a return on equity of 9.71% and a net margin of 6.23%. The company’s revenue was up 15.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.20 EPS. As a group, equities research analysts predict that Leonardo DRS will post 0.89 earnings per share for the current fiscal year.

Institutional Trading of Leonardo DRS

Several institutional investors have recently modified their holdings of DRS. Blair William & Co. IL boosted its stake in shares of Leonardo DRS by 1.1% in the 2nd quarter. Blair William & Co. IL now owns 36,850 shares of the company’s stock valued at $940,000 after purchasing an additional 400 shares during the last quarter. Arizona State Retirement System boosted its position in Leonardo DRS by 2.0% during the second quarter. Arizona State Retirement System now owns 22,056 shares of the company’s stock valued at $563,000 after acquiring an additional 424 shares during the last quarter. New York State Teachers Retirement System grew its holdings in Leonardo DRS by 6.9% during the 3rd quarter. New York State Teachers Retirement System now owns 6,722 shares of the company’s stock worth $190,000 after acquiring an additional 432 shares during the period. Comerica Bank raised its position in shares of Leonardo DRS by 23.7% in the 1st quarter. Comerica Bank now owns 2,750 shares of the company’s stock worth $61,000 after acquiring an additional 527 shares in the last quarter. Finally, Verdence Capital Advisors LLC raised its position in shares of Leonardo DRS by 7.1% in the 3rd quarter. Verdence Capital Advisors LLC now owns 8,942 shares of the company’s stock worth $252,000 after acquiring an additional 589 shares in the last quarter. 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.