Leonardo DRS (NASDAQ:DRS) Now Covered by BTIG Research

BTIG Research assumed coverage on shares of Leonardo DRS (NASDAQ:DRS) in a research report report published on Wednesday, MarketBeat.com reports. The firm issued a buy rating and a $30.00 price target on the stock.

A number of other research firms also recently issued reports on DRS. JPMorgan Chase & Co. cut their price target on Leonardo DRS from $25.00 to $24.00 and set a neutral rating for the company in a research note on Friday, March 15th. Bank of America lifted their price target on Leonardo DRS from $22.00 to $26.00 and gave the company a buy rating in a research note on Friday, March 15th. Truist Financial lifted their price target on Leonardo DRS from $25.00 to $27.00 and gave the company a buy rating in a research note on Wednesday, June 5th. Finally, Morgan Stanley assumed coverage on Leonardo DRS in a research note on Friday, May 24th. They set an equal weight rating and a $26.00 price target for the company. Two analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of Moderate Buy and an average price target of $26.60.

Leonardo DRS Stock Performance

Shares of DRS opened at $25.51 on Wednesday. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.96 and a quick ratio of 1.59. The stock has a 50-day moving average of $23.54 and a 200-day moving average of $21.61. The company has a market cap of $6.71 billion, a PE ratio of 36.44, a P/E/G ratio of 1.94 and a beta of 0.82. Leonardo DRS has a one year low of $15.75 and a one year high of $26.63.

Leonardo DRS (NASDAQ:DRS) last issued its earnings results on Wednesday, May 1st. The company reported $0.14 EPS for the quarter, beating the consensus estimate of $0.11 by $0.03. The company had revenue of $688.00 million during the quarter, compared to the consensus estimate of $645.56 million. Leonardo DRS had a return on equity of 9.35% and a net margin of 6.28%. The firm’s revenue for the quarter was up 20.9% compared to the same quarter last year. During the same period last year, the business posted $0.07 EPS. On average, equities research analysts predict that Leonardo DRS will post 0.81 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Raymond James Financial Services Advisors Inc. increased its position in shares of Leonardo DRS by 506.6% during the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 68,088 shares of the company’s stock valued at $1,364,000 after purchasing an additional 56,863 shares during the last quarter. Ghisallo Capital Management LLC purchased a new stake in shares of Leonardo DRS during the 4th quarter valued at $13,795,000. Trexquant Investment LP increased its position in shares of Leonardo DRS by 835.2% during the 4th quarter. Trexquant Investment LP now owns 232,209 shares of the company’s stock valued at $4,653,000 after purchasing an additional 207,380 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Leonardo DRS by 25.3% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 15,606 shares of the company’s stock valued at $313,000 after purchasing an additional 3,152 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its position in shares of Leonardo DRS by 37.4% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 768,420 shares of the company’s stock valued at $15,399,000 after purchasing an additional 209,005 shares during the last quarter. Hedge funds and other institutional investors own 18.76% of the company’s stock.

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.