Leonardo DRS (NASDAQ:DRS) Hits New 1-Year High - Here's Why

Leonardo DRS, Inc. (NASDAQ:DRS - Get Free Report) shares hit a new 52-week high during trading on Tuesday . The stock traded as high as $37.99 and last traded at $37.24, with a volume of 58792 shares traded. The stock had previously closed at $36.92.

Wall Street Analyst Weigh In

Several research analysts recently commented on the stock. JPMorgan Chase & Co. increased their target price on shares of Leonardo DRS from $29.00 to $32.00 and gave the stock a "neutral" rating in a report on Monday, November 4th. Robert W. Baird increased their target price on shares of Leonardo DRS from $30.00 to $40.00 and gave the stock an "outperform" rating in a report on Thursday, October 31st. Truist Financial upped their price target on shares of Leonardo DRS from $30.00 to $32.00 and gave the stock a "buy" rating in a research report on Wednesday, July 31st. Bank of America lowered shares of Leonardo DRS from a "buy" rating to a "neutral" rating and upped their price target for the stock from $26.00 to $30.00 in a research report on Tuesday, September 24th. Finally, BTIG Research upped their price target on shares of Leonardo DRS from $30.00 to $33.00 and gave the stock a "buy" rating in a research report on Thursday, August 1st. Three investment 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, Leonardo DRS has a consensus rating of "Moderate Buy" and an average price target of $32.17.

Leonardo DRS Price Performance

The company has a market capitalization of $9.64 billion, a P/E ratio of 49.89, a price-to-earnings-growth ratio of 2.26 and a beta of 0.95. The company's 50-day moving average price is $29.28 and its two-hundred day moving average price is $26.87. The company has a debt-to-equity ratio of 0.14, a current ratio of 2.11 and a quick ratio of 1.70.

Leonardo DRS (NASDAQ:DRS - Get Free Report) last issued its quarterly earnings data on Wednesday, October 30th. The company reported $0.24 earnings per share 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 6.23% and a return on equity of 9.71%. The company's revenue was up 15.5% on a year-over-year basis. During the same period in the prior year, the firm earned $0.20 earnings per share. As a group, sell-side analysts expect that Leonardo DRS, Inc. will post 0.9 EPS for the current year.

Hedge Funds Weigh In On Leonardo DRS

Large investors have recently modified their holdings of the stock. Blair William & Co. IL grew its stake 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 acquiring an additional 400 shares in the last quarter. Arizona State Retirement System grew its stake in shares of Leonardo DRS by 2.0% in the second quarter. Arizona State Retirement System now owns 22,056 shares of the company's stock valued at $563,000 after acquiring an additional 424 shares in the last quarter. New York State Teachers Retirement System grew its stake in shares of Leonardo DRS by 6.9% in the third quarter. New York State Teachers Retirement System now owns 6,722 shares of the company's stock valued at $190,000 after acquiring an additional 432 shares in the last quarter. Comerica Bank grew its stake in shares of Leonardo DRS by 23.7% in 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. Finally, Verdence Capital Advisors LLC grew its stake in shares of Leonardo DRS by 7.1% in the third quarter. Verdence Capital Advisors LLC now owns 8,942 shares of the company's stock valued at $252,000 after acquiring an additional 589 shares in the last quarter. 18.76% of the stock is owned by institutional investors.

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.

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