Leonardo DRS (NASDAQ:DRS) Trading Up 2.8%

Leonardo DRS, Inc. (NASDAQ:DRS)’s share price rose 2.8% during mid-day trading on Wednesday . The company traded as high as $28.37 and last traded at $28.35. Approximately 98,520 shares traded hands during trading, a decline of 84% from the average daily volume of 631,392 shares. The stock had previously closed at $27.57.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the stock. 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 report on Thursday, August 1st. Morgan Stanley started coverage on Leonardo DRS in a research note on Friday, May 24th. They issued an “equal weight” rating and a $26.00 price target on the stock. Truist Financial upped their price objective on Leonardo DRS from $30.00 to $32.00 and gave the stock a “buy” rating in a report on Wednesday, July 31st. Finally, Robert W. Baird raised their target price on Leonardo DRS from $26.00 to $30.00 and gave the company an “outperform” rating in a report on Wednesday, July 31st. Two analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, Leonardo DRS has a consensus rating of “Moderate Buy” and a consensus target price of $28.50.

Leonardo DRS Stock Up 2.1 %

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’s 50-day moving average price is $27.01 and its 200 day moving average price is $23.94. The firm has a market capitalization of $7.41 billion, a price-to-earnings ratio of 40.34, a price-to-earnings-growth ratio of 1.98 and a beta of 0.89.

Leonardo DRS (NASDAQ:DRS) last announced its earnings results on Tuesday, July 30th. The company reported $0.18 EPS for the quarter, beating 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 firm had revenue of $753.00 million for the quarter, compared to analysts’ expectations of $680.38 million. During the same quarter in the prior year, the firm earned $0.15 EPS. Leonardo DRS’s quarterly revenue was up 19.9% on a year-over-year basis. Sell-side analysts expect that Leonardo DRS, Inc. will post 0.86 EPS for the current year.

Institutional Trading of Leonardo DRS

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. grew its position in shares of Leonardo DRS by 50.8% in the fourth quarter. Vanguard Group Inc. now owns 7,389,350 shares of the company’s stock valued at $148,083,000 after purchasing an additional 2,490,447 shares during the period. Victory Capital Management Inc. raised its stake in Leonardo DRS by 5,608.1% during the fourth quarter. Victory Capital Management Inc. now owns 960,731 shares of the company’s stock worth $19,253,000 after purchasing an additional 943,900 shares during the period. Ghisallo Capital Management LLC purchased a new stake in shares of Leonardo DRS during the 4th quarter valued at $13,795,000. Dimensional Fund Advisors LP acquired a new stake in shares of Leonardo DRS during the 2nd quarter worth $16,916,000. Finally, Van ECK Associates Corp acquired a new position in Leonardo DRS in the second quarter valued at $11,093,000. 18.76% of the stock is owned by hedge funds and other institutional investors.

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.