Truist Financial Increases Leonardo DRS (NASDAQ:DRS) Price Target to $30.00

Leonardo DRS (NASDAQ:DRS) had its target price upped by Truist Financial from $27.00 to $30.00 in a report published on Wednesday morning, Benzinga reports. They currently have a buy rating on the stock.

Several other equities analysts have also recently weighed in on the company. Morgan Stanley initiated coverage on Leonardo DRS in a report on Friday, May 24th. They set an equal weight rating and a $26.00 price target on the stock. BTIG Research began coverage on Leonardo DRS in a report on Wednesday, June 26th. They issued a buy rating and a $30.00 target price on the stock. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of Moderate Buy and a consensus target price of $27.20.

Leonardo DRS Price Performance

NASDAQ DRS opened at $27.79 on Wednesday. Leonardo DRS has a one year low of $15.75 and a one year high of $28.70. The stock has a 50-day moving average of $25.05 and a 200 day moving average of $22.38. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.59 and a current ratio of 1.96. The company has a market capitalization of $7.31 billion, a price-to-earnings ratio of 39.70, a PEG ratio of 2.11 and a beta of 0.89.

Leonardo DRS (NASDAQ:DRS) last announced its quarterly earnings results on Wednesday, May 1st. The company reported $0.14 EPS for the quarter, topping analysts’ consensus estimates of $0.11 by $0.03. The firm had revenue of $688.00 million during the quarter, compared to analyst estimates of $645.56 million. Leonardo DRS had a net margin of 6.28% and a return on equity of 9.35%. The business’s revenue for the quarter was up 20.9% on a year-over-year basis. During the same period in the previous year, the business posted $0.07 earnings per share. On average, sell-side analysts forecast that Leonardo DRS will post 0.81 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Nisa Investment Advisors LLC lifted its holdings in Leonardo DRS by 1,325.9% in the 2nd quarter. Nisa Investment Advisors LLC now owns 1,155 shares of the company’s stock worth $29,000 after purchasing an additional 1,074 shares in the last quarter. EntryPoint Capital LLC lifted its holdings in shares of Leonardo DRS by 165.8% in the first quarter. EntryPoint Capital LLC now owns 1,656 shares of the company’s stock worth $37,000 after buying an additional 1,033 shares in the last quarter. PNC Financial Services Group Inc. bought a new position in shares of Leonardo DRS during the fourth quarter worth $35,000. Harel Insurance Investments & Financial Services Ltd. bought a new position in shares of Leonardo DRS during the first quarter worth $50,000. Finally, Comerica Bank grew its stake in Leonardo DRS by 23.7% during the first quarter. Comerica Bank now owns 2,750 shares of the company’s stock valued at $61,000 after acquiring an additional 527 shares in the last quarter. 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.