Leonardo DRS (NASDAQ:DRS) Stock Rating Lowered by Bank of America

Leonardo DRS (NASDAQ:DRS) was downgraded by investment analysts at Bank of America from a “buy” rating to a “neutral” rating in a report issued on Tuesday, MarketBeat reports. They currently have a $30.00 price target on the stock, up from their previous price target of $26.00. Bank of America‘s price target would indicate a potential upside of 9.01% from the company’s current price.

A number of other equities analysts have also weighed in on DRS. Truist Financial upped their target price on Leonardo DRS from $30.00 to $32.00 and gave the stock a “buy” rating in a research report on Wednesday, July 31st. BTIG Research raised their price objective on shares of Leonardo DRS from $30.00 to $33.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. Finally, Robert W. Baird boosted their target price on shares of Leonardo DRS from $26.00 to $30.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 31st. Three analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $29.17.

Leonardo DRS Stock Performance

Shares of DRS stock opened at $27.52 on Tuesday. The stock has a market capitalization of $7.24 billion, a PE ratio of 39.31, a PEG ratio of 2.07 and a beta of 0.96. The business’s 50 day simple moving average is $27.71 and its 200 day simple moving average is $24.82. The company has a debt-to-equity ratio of 0.15, a current ratio of 2.01 and a quick ratio of 1.60. Leonardo DRS has a one year low of $15.81 and a one year high of $29.85.

Leonardo DRS (NASDAQ:DRS) last issued its earnings results on Tuesday, July 30th. The company reported $0.18 earnings per share for the quarter, topping analysts’ consensus estimates of $0.14 by $0.04. The business had revenue of $753.00 million during the quarter, compared to the consensus estimate of $680.38 million. Leonardo DRS had a return on equity of 9.48% and a net margin of 6.12%. The firm’s revenue for the quarter was up 19.9% on a year-over-year basis. During the same period in the previous year, the company posted $0.15 earnings per share. As a group, research analysts forecast that Leonardo DRS will post 0.84 earnings per share for the current year.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the company. Nisa Investment Advisors LLC grew its holdings in shares of Leonardo DRS by 1,325.9% in the second quarter. Nisa Investment Advisors LLC now owns 1,155 shares of the company’s stock valued at $29,000 after acquiring an additional 1,074 shares in the last quarter. PNC Financial Services Group Inc. purchased a new position in Leonardo DRS in the fourth quarter worth $35,000. EntryPoint Capital LLC grew its stake in Leonardo DRS by 165.8% in the 1st quarter. EntryPoint Capital LLC now owns 1,656 shares of the company’s stock valued at $37,000 after purchasing an additional 1,033 shares during the period. Harel Insurance Investments & Financial Services Ltd. purchased a new stake in shares of Leonardo DRS during the 1st quarter valued at $50,000. Finally, Comerica Bank raised its stake in shares of Leonardo DRS by 23.7% during the 1st 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. 18.76% of the stock is owned by 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.