Leonardo DRS (NASDAQ:DRS) Sets New 12-Month High – Here’s What Happened

Leonardo DRS, Inc. (NASDAQ:DRS)’s share price hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $37.99 and last traded at $37.24, with a volume of 58792 shares. The stock had previously closed at $36.92.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on DRS. Bank of America cut shares of Leonardo DRS from a “buy” rating to a “neutral” rating and lifted their target price for the stock from $26.00 to $30.00 in a report on Tuesday, September 24th. BTIG Research increased 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. Truist Financial increased their price objective on shares of Leonardo DRS from $30.00 to $32.00 and gave the company a “buy” rating in a research report on Wednesday, July 31st. JPMorgan Chase & Co. increased their price objective on shares of Leonardo DRS from $29.00 to $32.00 and gave the company a “neutral” rating in a research report on Monday, November 4th. Finally, Robert W. Baird increased their price objective on shares of Leonardo DRS from $30.00 to $40.00 and gave the company an “outperform” rating in a research report on Thursday, October 31st. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $32.17.

Leonardo DRS Stock Performance

The stock’s 50 day moving average price is $29.45 and its 200-day moving average price is $26.97. 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 stock has a market capitalization of $9.55 billion, a PE ratio of 48.82, a PEG ratio of 2.23 and a beta of 0.95.

Leonardo DRS (NASDAQ:DRS) last announced its quarterly earnings data 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 net margin of 6.23% and a return on equity of 9.71%. The company’s revenue for the quarter was up 15.5% compared to the same quarter last year. During the same period in the prior year, the company posted $0.20 earnings per share. On average, sell-side analysts expect that Leonardo DRS, Inc. will post 0.9 earnings per share for the current fiscal year.

Institutional Trading of Leonardo DRS

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Swiss National Bank grew its stake in Leonardo DRS by 50.5% during the first quarter. Swiss National Bank now owns 155,300 shares of the company’s stock valued at $3,431,000 after acquiring an additional 52,100 shares in the last quarter. Sei Investments Co. grew its stake in Leonardo DRS by 2.3% during the first quarter. Sei Investments Co. now owns 113,252 shares of the company’s stock valued at $2,502,000 after acquiring an additional 2,579 shares in the last quarter. Russell Investments Group Ltd. grew its stake in Leonardo DRS by 32.1% during the first quarter. Russell Investments Group Ltd. now owns 188,737 shares of the company’s stock valued at $4,169,000 after acquiring an additional 45,821 shares in the last quarter. ProShare Advisors LLC grew its stake in Leonardo DRS by 8.5% during the first quarter. ProShare Advisors LLC now owns 12,346 shares of the company’s stock valued at $273,000 after acquiring an additional 972 shares in the last quarter. Finally, First Eagle Investment Management LLC grew its stake in Leonardo DRS by 19.2% during the first quarter. First Eagle Investment Management LLC now owns 367,485 shares of the company’s stock valued at $8,118,000 after acquiring an additional 59,300 shares in the last quarter. 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.