Leonardo DRS (NASDAQ:DRS) Stock Price Expected to Rise, Truist Financial Analyst Says

Leonardo DRS (NASDAQ:DRS) had its price target upped by investment analysts at Truist Financial from $36.00 to $37.00 in a note issued to investors on Tuesday,Benzinga reports. The firm presently has a “buy” rating on the stock. Truist Financial’s target price points to a potential upside of 5.47% from the company’s current price.

DRS has been the subject of a number of other reports. Robert W. Baird increased their price objective on Leonardo DRS from $30.00 to $40.00 and gave the stock an “outperform” rating in a report on Thursday, October 31st. JPMorgan Chase & Co. increased their price target on Leonardo DRS from $29.00 to $32.00 and gave the stock a “neutral” rating in a research note on Monday, November 4th. Finally, Bank of America cut shares of Leonardo DRS from a “buy” rating to a “neutral” rating and lifted their price objective for the company from $26.00 to $30.00 in a research note on Tuesday, September 24th. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $33.00.

Leonardo DRS Stock Performance

DRS stock opened at $35.08 on Tuesday. Leonardo DRS has a 1 year low of $18.73 and a 1 year high of $37.99. The stock has a market capitalization of $9.28 billion, a price-to-earnings ratio of 47.41, a PEG ratio of 1.76 and a beta of 1.00. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.70 and a current ratio of 2.11. The stock’s fifty day moving average is $34.20 and its two-hundred day moving average is $30.21.

Leonardo DRS (NASDAQ:DRS) last issued its quarterly earnings data on Wednesday, October 30th. The company reported $0.24 earnings per share for the quarter, beating the consensus estimate of $0.20 by $0.04. Leonardo DRS had a net margin of 6.23% and a return on equity of 9.71%. The firm had revenue of $812.00 million for the quarter, compared to the consensus estimate of $775.44 million. During the same period last year, the firm posted $0.20 EPS. Leonardo DRS’s quarterly revenue was up 15.5% compared to the same quarter last year. On average, research analysts predict that Leonardo DRS will post 0.92 EPS for the current year.

Insider Activity at Leonardo DRS

In related news, COO John Baylouny sold 3,529 shares of the firm’s 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 ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO William Lynn III sold 45,000 shares of Leonardo DRS stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $34.07, for a total transaction of $1,533,150.00. Following the completion of the transaction, the chief executive officer now owns 234,937 shares in the company, valued at approximately $8,004,303.59. This trade represents a 16.08 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 98,083 shares of company stock valued at $3,349,255 over the last 90 days. 0.12% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Leonardo DRS

Several hedge funds have recently modified their holdings of the stock. Driehaus Capital Management LLC raised its holdings in Leonardo DRS by 4.7% during the 2nd quarter. Driehaus Capital Management LLC now owns 2,281,546 shares of the company’s stock worth $58,202,000 after buying an additional 102,198 shares during the period. Geode Capital Management LLC raised its holdings in shares of Leonardo DRS by 2.7% during the third quarter. Geode Capital Management LLC now owns 1,915,376 shares of the company’s stock valued at $54,061,000 after acquiring an additional 51,014 shares during the period. Franklin Resources Inc. lifted its position in shares of Leonardo DRS by 16.6% in the 3rd quarter. Franklin Resources Inc. now owns 1,239,569 shares of the company’s stock valued at $35,371,000 after acquiring an additional 176,326 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in Leonardo DRS by 8.8% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,012,370 shares of the company’s stock worth $28,569,000 after purchasing an additional 82,049 shares during the period. Finally, Jacobs Levy Equity Management Inc. grew its position in Leonardo DRS by 71.7% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 921,156 shares of the company’s stock worth $25,995,000 after purchasing an additional 384,522 shares in 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.