BTIG Research Initiates Coverage on Leonardo DRS (NASDAQ:DRS)

Analysts at BTIG Research initiated coverage on shares of Leonardo DRS (NASDAQ:DRS) in a report issued on Wednesday, MarketBeat Ratings reports. The firm set a “buy” rating and a $30.00 price target on the stock. BTIG Research’s target price points to a potential upside of 17.32% from the company’s previous close.

DRS has been the topic of a number of other research reports. Morgan Stanley began coverage on shares of Leonardo DRS in a research note on Friday, May 24th. They issued an “equal weight” rating and a $26.00 target price on the stock. Bank of America boosted their target price on shares of Leonardo DRS from $22.00 to $26.00 and gave the company a “buy” rating in a research note on Friday, March 15th. JPMorgan Chase & Co. decreased their price target on shares of Leonardo DRS from $25.00 to $24.00 and set a “neutral” rating for the company in a report on Friday, March 15th. Finally, Truist Financial upped their price objective on Leonardo DRS from $25.00 to $27.00 and gave the stock a “buy” rating in a research note on Wednesday, June 5th. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, Leonardo DRS has an average rating of “Moderate Buy” and a consensus price target of $26.60.

Leonardo DRS Stock Performance

Shares of DRS stock opened at $25.57 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 company’s fifty day moving average price is $23.36 and its two-hundred day moving average price is $21.53. The firm has a market capitalization of $6.73 billion, a P/E ratio of 36.63, a P/E/G ratio of 1.92 and a beta of 0.82. Leonardo DRS has a 12 month low of $15.75 and a 12 month high of $26.63.

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

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. boosted its stake in shares of Leonardo DRS by 50.8% during the 4th quarter. Vanguard Group Inc. now owns 7,389,350 shares of the company’s stock worth $148,083,000 after acquiring an additional 2,490,447 shares in the last quarter. Victory Capital Management Inc. increased its stake in Leonardo DRS by 5,608.1% in the 4th quarter. Victory Capital Management Inc. now owns 960,731 shares of the company’s stock worth $19,253,000 after purchasing an additional 943,900 shares in the last quarter. Ghisallo Capital Management LLC acquired a new stake in Leonardo DRS during the 4th quarter worth about $13,795,000. Motley Fool Asset Management LLC lifted its stake in Leonardo DRS by 289.3% during the first quarter. Motley Fool Asset Management LLC now owns 537,536 shares of the company’s stock valued at $11,874,000 after buying an additional 399,456 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD boosted its holdings 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 buying an additional 290,188 shares during the period. 18.76% of the stock is owned by institutional investors and hedge funds.

Leonardo DRS Company Profile

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.