Bank of America Downgrades Leonardo DRS (NASDAQ:DRS) to Neutral

Bank of America lowered shares of Leonardo DRS (NASDAQ:DRS) from a buy rating to a neutral rating in a report issued on Tuesday morning, Marketbeat.com reports. They currently have $30.00 price objective on the stock, up from their prior price objective of $26.00.

Several other equities research analysts also recently commented on DRS. Robert W. Baird lifted their price objective on shares of Leonardo DRS from $26.00 to $30.00 and gave the stock an outperform rating in a research note on Wednesday, July 31st. BTIG Research boosted their target price 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. Finally, Truist Financial boosted their target price 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. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat.com, Leonardo DRS presently has a consensus rating of Moderate Buy and a consensus price target of $29.17.

Leonardo DRS Trading Up 0.4 %

NASDAQ:DRS opened at $27.87 on Tuesday. Leonardo DRS has a 12 month low of $15.81 and a 12 month high of $29.85. The firm has a fifty day simple moving average of $27.70 and a 200-day simple moving average of $24.90. The company has a current ratio of 2.01, a quick ratio of 1.60 and a debt-to-equity ratio of 0.15. The company has a market capitalization of $7.33 billion, a P/E ratio of 39.81, a PEG ratio of 2.07 and a beta of 0.96.

Leonardo DRS (NASDAQ:DRS) last posted its quarterly earnings data on Tuesday, July 30th. The company reported $0.18 EPS for the quarter, topping the consensus estimate of $0.14 by $0.04. Leonardo DRS had a net margin of 6.12% and a return on equity of 9.48%. The business had revenue of $753.00 million during the quarter, compared to the consensus estimate of $680.38 million. During the same period in the previous year, the firm posted $0.15 earnings per share. The business’s revenue for the quarter was up 19.9% compared to the same quarter last year. On average, equities research analysts anticipate 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 modified their holdings of the company. Vanguard Group Inc. raised its position in shares of Leonardo DRS by 2.2% in the first quarter. Vanguard Group Inc. now owns 7,554,321 shares of the company’s stock worth $166,875,000 after acquiring an additional 164,971 shares during the period. Driehaus Capital Management LLC raised its position in shares of Leonardo DRS by 4.7% in the second quarter. Driehaus Capital Management LLC now owns 2,281,546 shares of the company’s stock worth $58,202,000 after acquiring an additional 102,198 shares during the period. Price T Rowe Associates Inc. MD raised its position in shares of Leonardo DRS by 15.4% in the first quarter. Price T Rowe Associates Inc. MD now owns 2,180,347 shares of the company’s stock worth $48,165,000 after acquiring an additional 290,188 shares during the period. Charles Schwab Investment Management Inc. raised its position in shares of Leonardo DRS by 37.4% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 768,420 shares of the company’s stock worth $15,399,000 after acquiring an additional 209,005 shares during the period. Finally, Kennedy Capital Management LLC raised its position in shares of Leonardo DRS by 1.8% in the first quarter. Kennedy Capital Management LLC now owns 768,163 shares of the company’s stock worth $16,969,000 after acquiring an additional 13,830 shares during the period. Institutional investors and hedge funds 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.