Leonardo DRS (NASDAQ:DRS) Given New $32.00 Price Target at JPMorgan Chase & Co.

Leonardo DRS (NASDAQ:DRS) had its price target raised by JPMorgan Chase & Co. from $29.00 to $32.00 in a research note published on Monday morning, Benzinga reports. JPMorgan Chase & Co. currently has a neutral rating on the stock.

Several other research analysts also recently issued reports on DRS. Bank of America downgraded shares of Leonardo DRS from a “buy” rating to a “neutral” rating and upped their price target for the stock from $26.00 to $30.00 in a research report on Tuesday, September 24th. Truist Financial upped their target price on shares of Leonardo DRS from $30.00 to $32.00 and gave the stock a “buy” rating in a research report on Wednesday, July 31st. Robert W. Baird raised their price target on shares of Leonardo DRS from $30.00 to $40.00 and gave the company an “outperform” rating in a report on Thursday, October 31st. Finally, BTIG Research upped their price objective on Leonardo DRS from $30.00 to $33.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat, Leonardo DRS has a consensus rating of “Moderate Buy” and an average price target of $32.17.

Leonardo DRS Price Performance

NASDAQ:DRS opened at $31.51 on Monday. The firm has a market cap of $8.33 billion, a PE ratio of 42.58, a price-to-earnings-growth ratio of 1.93 and a beta of 0.95. The company’s 50-day moving average price is $28.55 and its two-hundred day moving average price is $26.37. The company has a quick ratio of 1.70, a current ratio of 2.11 and a debt-to-equity ratio of 0.14. Leonardo DRS has a 12 month low of $17.97 and a 12 month high of $33.29.

Leonardo DRS (NASDAQ:DRS) last released its quarterly earnings results on Wednesday, October 30th. The company reported $0.24 EPS for the quarter, topping analysts’ consensus estimates of $0.20 by $0.04. Leonardo DRS had a return on equity of 9.71% and a net margin of 6.23%. The business had revenue of $812.00 million for the quarter, compared to analyst estimates of $775.44 million. During the same period in the prior year, the company earned $0.20 EPS. Leonardo DRS’s revenue for the quarter was up 15.5% on a year-over-year basis. On average, equities analysts anticipate that Leonardo DRS will post 0.89 EPS for the current fiscal year.

Institutional Trading of Leonardo DRS

Institutional investors and hedge funds have recently made changes to their positions in the business. PNC Financial Services Group Inc. bought a new stake in shares of Leonardo DRS in the 4th quarter valued at about $35,000. Essex Investment Management Co. LLC increased its stake in Leonardo DRS by 0.7% in the first quarter. Essex Investment Management Co. LLC now owns 326,128 shares of the company’s stock valued at $7,204,000 after purchasing an additional 2,133 shares in the last quarter. Swiss National Bank raised its holdings in Leonardo DRS by 50.5% in the first quarter. Swiss National Bank now owns 155,300 shares of the company’s stock worth $3,431,000 after purchasing an additional 52,100 shares during the period. Sei Investments Co. raised its holdings in Leonardo DRS by 2.3% in the first quarter. Sei Investments Co. now owns 113,252 shares of the company’s stock worth $2,502,000 after purchasing an additional 2,579 shares during the period. Finally, Russell Investments Group Ltd. grew its holdings in shares of Leonardo DRS by 32.1% in the 1st quarter. Russell Investments Group Ltd. now owns 188,737 shares of the company’s stock valued at $4,169,000 after buying an additional 45,821 shares during the period. 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.