Leonardo DRS (NASDAQ:DRS) Reaches New 52-Week High - Time to Buy?

Leonardo DRS, Inc. (NASDAQ:DRS - Get Free Report)'s stock price hit a new 52-week high during trading on Wednesday . The company traded as high as $32.06 and last traded at $32.06, with a volume of 100157 shares traded. The stock had previously closed at $28.40.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on DRS shares. Truist Financial upped their target price 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 cut Leonardo DRS from a "buy" rating to a "neutral" rating and lifted their target price for the company from $26.00 to $30.00 in a research note on Tuesday, September 24th. Robert W. Baird boosted their target price on Leonardo DRS from $26.00 to $30.00 and gave the stock an "outperform" rating in a research report on Wednesday, July 31st. Finally, BTIG Research raised their price target on Leonardo DRS from $30.00 to $33.00 and gave the company a "buy" rating in a report on Thursday, August 1st. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $29.17.

Leonardo DRS Price Performance

The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.60 and a current ratio of 2.01. The company has a 50-day moving average price of $28.32 and a 200-day moving average price of $26.10. The firm has a market capitalization of $8.34 billion, a P/E ratio of 45.16, a price-to-earnings-growth ratio of 1.83 and a beta of 0.96.

Leonardo DRS (NASDAQ:DRS - Get Free Report) last issued its earnings results on Tuesday, July 30th. The company reported $0.18 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.14 by $0.04. The firm had revenue of $753.00 million for the quarter, compared to analysts' expectations of $680.38 million. Leonardo DRS had a return on equity of 9.48% and a net margin of 6.12%. The company's revenue was up 19.9% compared to the same quarter last year. During the same quarter last year, the business earned $0.15 earnings per share. On average, sell-side analysts predict that Leonardo DRS, Inc. will post 0.86 earnings per share for the current year.

Hedge Funds Weigh In On Leonardo DRS

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. increased its position in shares of Leonardo DRS by 50.8% during the fourth 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. PNC Financial Services Group Inc. acquired a new position in Leonardo DRS during the fourth quarter worth $35,000. Principal Financial Group Inc. increased its stake in Leonardo DRS by 165.6% in the 1st quarter. Principal Financial Group Inc. now owns 108,008 shares of the company's stock valued at $2,386,000 after buying an additional 67,335 shares during the last quarter. GSA Capital Partners LLP boosted its stake in shares of Leonardo DRS by 52.0% during the 1st quarter. GSA Capital Partners LLP now owns 116,008 shares of the company's stock worth $2,563,000 after buying an additional 39,682 shares during the last quarter. Finally, Essex Investment Management Co. LLC increased its position in shares of Leonardo DRS by 0.7% in the first quarter. Essex Investment Management Co. LLC now owns 326,128 shares of the company's stock valued at $7,204,000 after acquiring an additional 2,133 shares during 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.