Leonardo DRS (NASDAQ:DRS) Price Target Raised to $40.00 at Robert W. Baird

Leonardo DRS (NASDAQ:DRS) had its price objective hoisted by investment analysts at Robert W. Baird from $30.00 to $40.00 in a report issued on Thursday, Benzinga reports. The firm presently has an “outperform” rating on the stock. Robert W. Baird’s price objective would suggest a potential upside of 26.42% from the company’s previous close.

Several other equities analysts have also recently issued reports on DRS. 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 note on Thursday, August 1st. Truist Financial increased their target price on shares of Leonardo DRS from $30.00 to $32.00 and gave the stock a “buy” rating in a research note on Wednesday, July 31st. Finally, Bank of America lowered Leonardo DRS from a “buy” rating to a “neutral” rating and lifted their price target for the company from $26.00 to $30.00 in a research note on Tuesday, September 24th. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $30.83.

Leonardo DRS Price Performance

Shares of NASDAQ DRS opened at $31.64 on Thursday. The firm has a market cap of $8.34 billion, a P/E ratio of 44.56, a P/E/G ratio of 1.83 and a beta of 0.96. Leonardo DRS has a 52 week low of $17.97 and a 52 week high of $33.29. The business’s 50 day moving average price is $28.40 and its 200 day moving average price is $26.14. The company has a quick ratio of 1.60, a current ratio of 2.01 and a debt-to-equity ratio of 0.15.

Leonardo DRS (NASDAQ:DRS) last posted its quarterly earnings results on Wednesday, October 30th. The company reported $0.24 EPS for the quarter, beating the consensus estimate of $0.20 by $0.04. The company had revenue of $812.00 million for the quarter, compared to analyst estimates of $775.44 million. Leonardo DRS had a net margin of 6.12% and a return on equity of 9.48%. The firm’s revenue was up 15.5% on a year-over-year basis. During the same period in the prior year, the company earned $0.20 earnings per share. On average, sell-side analysts expect that Leonardo DRS will post 0.86 earnings per share for the current year.

Institutional Trading of Leonardo DRS

Several hedge funds have recently made changes to their positions in DRS. Cannon Global Investment Management LLC lifted its holdings in Leonardo DRS by 58.3% in the third quarter. Cannon Global Investment Management LLC now owns 19,000 shares of the company’s stock valued at $536,000 after acquiring an additional 7,000 shares during the last quarter. Van ECK Associates Corp lifted its position in Leonardo DRS by 28.2% in the third quarter. Van ECK Associates Corp now owns 557,672 shares of the company’s stock valued at $15,698,000 after buying an additional 122,836 shares during the last quarter. Stephens Inc. AR increased its position in shares of Leonardo DRS by 7.7% during the third quarter. Stephens Inc. AR now owns 12,656 shares of the company’s stock valued at $357,000 after acquiring an additional 907 shares during the last quarter. US Bancorp DE raised its stake in shares of Leonardo DRS by 65.8% in the 3rd quarter. US Bancorp DE now owns 37,838 shares of the company’s stock valued at $1,068,000 after acquiring an additional 15,020 shares during the period. Finally, New York State Teachers Retirement System lifted its holdings in shares of Leonardo DRS by 6.9% in the 3rd quarter. New York State Teachers Retirement System now owns 6,722 shares of the company’s stock worth $190,000 after acquiring an additional 432 shares during the last quarter. Hedge funds and other institutional investors own 18.76% of the company’s stock.

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.