Leonardo DRS (NASDAQ:DRS) Given New $40.00 Price Target at Robert W. Baird

Leonardo DRS (NASDAQ:DRS - Free Report) had its target price raised by Robert W. Baird from $30.00 to $40.00 in a report released on Thursday morning, Benzinga reports. They currently have an outperform rating on the stock.

A number of other equities research analysts have also commented on the stock. Bank of America lowered shares of Leonardo DRS from a "buy" rating to a "neutral" rating and upped their price target for the company from $26.00 to $30.00 in a report on Tuesday, September 24th. BTIG Research upped their price objective on shares of Leonardo DRS from $30.00 to $33.00 and gave the stock a "buy" rating in a report on Thursday, August 1st. Finally, Truist Financial upped their price objective on shares of Leonardo DRS from $30.00 to $32.00 and gave the stock a "buy" rating in a report on Wednesday, July 31st. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $30.83.

Leonardo DRS Trading Down 5.0 %

Shares of DRS traded down $1.57 during mid-day trading on Thursday, reaching $30.07. The company's stock had a trading volume of 873,339 shares, compared to its average volume of 621,688. The stock has a market cap of $7.93 billion, a PE ratio of 40.64, a P/E/G ratio of 1.83 and a beta of 0.96. The company has a current ratio of 2.01, a quick ratio of 1.60 and a debt-to-equity ratio of 0.15. Leonardo DRS has a 52 week low of $17.97 and a 52 week high of $33.29. The company's fifty day moving average price is $28.44 and its two-hundred day moving average price is $26.16.

Leonardo DRS (NASDAQ:DRS - Get Free Report) last announced its quarterly earnings data on Wednesday, October 30th. The company reported $0.24 earnings per share for the quarter, topping analysts' consensus estimates of $0.20 by $0.04. The firm had revenue of $812.00 million during 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 business's quarterly revenue was up 15.5% on a year-over-year basis. During the same period in the previous year, the business posted $0.20 EPS. On average, analysts predict that Leonardo DRS will post 0.86 earnings per share for the current fiscal year.

Institutional Trading of Leonardo DRS

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Vanguard Group Inc. grew its position in Leonardo DRS by 50.8% during the 4th quarter. Vanguard Group Inc. now owns 7,389,350 shares of the company's stock valued at $148,083,000 after purchasing an additional 2,490,447 shares during the last quarter. PNC Financial Services Group Inc. purchased a new stake in Leonardo DRS during the 4th quarter valued at about $35,000. Principal Financial Group Inc. grew its position in Leonardo DRS by 165.6% during the 1st quarter. Principal Financial Group Inc. now owns 108,008 shares of the company's stock valued at $2,386,000 after purchasing an additional 67,335 shares during the last quarter. GSA Capital Partners LLP grew its position in Leonardo DRS by 52.0% during the 1st quarter. GSA Capital Partners LLP now owns 116,008 shares of the company's stock valued at $2,563,000 after purchasing an additional 39,682 shares during the last quarter. Finally, Essex Investment Management Co. LLC grew its position in Leonardo DRS by 0.7% during the 1st quarter. Essex Investment Management Co. LLC now owns 326,128 shares of the company's stock valued at $7,204,000 after purchasing an additional 2,133 shares during the last quarter. 18.76% of the stock is owned by hedge funds and other 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.