Leonardo DRS, Inc. (NASDAQ:DRS) Given Consensus Recommendation of “Moderate Buy” by Analysts

Leonardo DRS, Inc. (NASDAQ:DRS) has been given an average recommendation of “Moderate Buy” by the six brokerages that are currently covering the stock, Marketbeat reports. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $32.17.

Several brokerages have weighed in on DRS. Robert W. Baird increased their price target on Leonardo DRS from $30.00 to $40.00 and gave the stock an “outperform” rating in a research note on Thursday, October 31st. Bank of America downgraded Leonardo DRS from a “buy” rating to a “neutral” rating and increased their target price for the stock from $26.00 to $30.00 in a research report on Tuesday, September 24th. Finally, JPMorgan Chase & Co. lifted their price target on Leonardo DRS from $29.00 to $32.00 and gave the company a “neutral” rating in a report on Monday, November 4th.

Leonardo DRS Stock Up 1.5 %

Shares of NASDAQ:DRS opened at $32.88 on Friday. The company has a market capitalization of $8.69 billion, a P/E ratio of 44.43, a P/E/G ratio of 1.76 and a beta of 1.00. The stock’s fifty day simple moving average is $33.72 and its 200-day simple moving average is $29.72. Leonardo DRS has a 52-week low of $18.60 and a 52-week high of $37.99. 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 (NASDAQ:DRS) last released its quarterly earnings results on Wednesday, October 30th. The company reported $0.24 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.20 by $0.04. The company had revenue of $812.00 million for 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 firm’s revenue for the quarter was up 15.5% compared to the same quarter last year. During the same period last year, the company earned $0.20 EPS. As a group, equities research analysts forecast that Leonardo DRS will post 0.92 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, COO John Baylouny sold 8,235 shares of Leonardo DRS stock in a transaction on Wednesday, December 11th. The shares were sold at an average price of $34.50, for a total transaction of $284,107.50. Following the transaction, the chief operating officer now owns 81,863 shares in the company, valued at approximately $2,824,273.50. The trade was a 9.14 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO William Lynn III sold 45,000 shares of the firm’s stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $34.07, for a total value of $1,533,150.00. Following the completion of the transaction, the chief executive officer now directly owns 234,937 shares in the company, valued at $8,004,303.59. This trade represents a 16.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 94,554 shares of company stock worth $3,236,679 over the last three months. 0.12% of the stock is owned by insiders.

Institutional Investors Weigh In On Leonardo DRS

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP acquired a new stake in shares of Leonardo DRS during the second quarter valued at about $16,916,000. Van ECK Associates Corp purchased a new position in Leonardo DRS in the second quarter valued at about $11,093,000. Jacobs Levy Equity Management Inc. grew its stake in Leonardo DRS by 71.7% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 921,156 shares of the company’s stock valued at $25,995,000 after purchasing an additional 384,522 shares in the last quarter. Franklin Resources Inc. increased its holdings in Leonardo DRS by 16.6% during the 3rd quarter. Franklin Resources Inc. now owns 1,239,569 shares of the company’s stock worth $35,371,000 after purchasing an additional 176,326 shares during the last quarter. Finally, Victory Capital Management Inc. raised its position in shares of Leonardo DRS by 1,133.6% in the 3rd quarter. Victory Capital Management Inc. now owns 116,438 shares of the company’s stock valued at $3,286,000 after purchasing an additional 106,999 shares in 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.