Leonardo DRS, Inc. (NASDAQ:DRS) Given Average Recommendation of "Moderate Buy" by Brokerages

Leonardo DRS, Inc. (NASDAQ:DRS - Get Free Report) has been assigned an average rating of "Moderate Buy" from the six brokerages that are covering the company, Marketbeat reports. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average 1 year price target among brokerages that have updated their coverage on the stock in the last year is $32.17.

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

Hedge Funds Weigh In On Leonardo DRS

Hedge funds have recently modified their holdings of the stock. Cerity Partners LLC lifted its holdings in Leonardo DRS by 1.1% in the 3rd quarter. Cerity Partners LLC now owns 34,051 shares of the company's stock valued at $961,000 after purchasing an additional 354 shares in the last quarter. Blair William & Co. IL grew its holdings in shares of Leonardo DRS by 1.1% in the second quarter. Blair William & Co. IL now owns 36,850 shares of the company's stock valued at $940,000 after purchasing an additional 400 shares in the last quarter. Arizona State Retirement System grew its holdings in Leonardo DRS by 2.0% during the 2nd quarter. Arizona State Retirement System now owns 22,056 shares of the company's stock worth $563,000 after acquiring an additional 424 shares in the last quarter. New York State Teachers Retirement System boosted 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 valued at $190,000 after buying an additional 432 shares in the last quarter. Finally, Glenmede Trust Co. NA raised its position in Leonardo DRS by 1.3% during the 3rd quarter. Glenmede Trust Co. NA now owns 33,960 shares of the company's stock worth $958,000 after buying an additional 435 shares during the last quarter. Institutional investors and hedge funds own 18.76% of the company's stock.

Leonardo DRS Price Performance

Shares of Leonardo DRS stock traded up $0.44 on Tuesday, reaching $34.90. 378,213 shares of the stock were exchanged, compared to its average volume of 622,215. The firm's 50 day moving average is $31.39 and its 200-day moving average is $28.16. Leonardo DRS has a one year low of $18.24 and a one year high of $37.99. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.70 and a current ratio of 2.11. The firm has a market cap of $9.23 billion, a PE ratio of 47.16, a P/E/G ratio of 1.78 and a beta of 0.97.

Leonardo DRS (NASDAQ:DRS - Get Free Report) last released its quarterly earnings results on Wednesday, October 30th. The company reported $0.24 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.20 by $0.04. The firm had revenue of $812.00 million during the quarter, compared to the consensus estimate of $775.44 million. Leonardo DRS had a net margin of 6.23% and a return on equity of 9.71%. The company's revenue for the quarter was up 15.5% on a year-over-year basis. During the same quarter last year, the firm earned $0.20 earnings per share. As a group, analysts anticipate that Leonardo DRS will post 0.92 EPS for the current fiscal year.

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.