Truist Financial Forecasts Strong Price Appreciation for Leonardo DRS (NASDAQ:DRS) Stock

Leonardo DRS (NASDAQ:DRS - Get Free Report) had its target price raised by stock analysts at Truist Financial from $36.00 to $37.00 in a research note issued on Tuesday,Benzinga reports. The firm presently has a "buy" rating on the stock. Truist Financial's target price points to a potential upside of 7.25% from the stock's previous close.

DRS has been the topic of several other reports. JPMorgan Chase & Co. lifted their target price on 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 company an "outperform" rating in a research report on Thursday, October 31st. Finally, Bank of America cut shares of Leonardo DRS from a "buy" rating to a "neutral" rating and increased their price objective for the stock from $26.00 to $30.00 in a research report on Tuesday, September 24th. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $33.00.

Leonardo DRS Price Performance

Shares of NASDAQ DRS traded up $0.67 during mid-day trading on Tuesday, hitting $34.50. 428,771 shares of the stock traded hands, compared to its average volume of 450,636. The company has a debt-to-equity ratio of 0.14, a current ratio of 2.11 and a quick ratio of 1.70. The company has a market cap of $9.12 billion, a PE ratio of 46.62, a price-to-earnings-growth ratio of 1.76 and a beta of 1.00. Leonardo DRS has a twelve month low of $18.73 and a twelve month high of $37.99. The firm has a 50 day simple moving average of $34.17 and a two-hundred day simple moving average of $30.15.

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

Insider Activity

In other Leonardo DRS news, CEO William Lynn III sold 45,000 shares of the firm's stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $34.07, for a total value of $1,533,150.00. Following the completion of the sale, the chief executive officer now owns 234,937 shares of the company's stock, valued at approximately $8,004,303.59. This trade represents a 16.08 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, COO John Baylouny sold 3,529 shares of the stock in a transaction on Wednesday, January 8th. The stock was sold at an average price of $31.90, for a total value of $112,575.10. Following the completion of the transaction, the chief operating officer now owns 78,334 shares in the company, valued at approximately $2,498,854.60. This represents a 4.31 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 98,083 shares of company stock worth $3,349,255 in the last quarter. 0.12% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Leonardo DRS

Several large investors have recently added to or reduced their stakes in DRS. Oliver Luxxe Assets LLC raised its holdings in shares of Leonardo DRS by 5.1% in the fourth quarter. Oliver Luxxe Assets LLC now owns 89,612 shares of the company's stock valued at $2,895,000 after purchasing an additional 4,368 shares during the last quarter. JPMorgan Chase & Co. lifted its position in shares of Leonardo DRS by 133.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 171,864 shares of the company's stock worth $4,850,000 after buying an additional 98,141 shares in the last quarter. Franklin Resources Inc. boosted its stake in shares of Leonardo DRS by 16.6% in the 3rd quarter. Franklin Resources Inc. now owns 1,239,569 shares of the company's stock worth $35,371,000 after buying an additional 176,326 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of Leonardo DRS by 2.7% in the third quarter. Geode Capital Management LLC now owns 1,915,376 shares of the company's stock valued at $54,061,000 after acquiring an additional 51,014 shares in the last quarter. Finally, Barclays PLC increased its position in shares of Leonardo DRS by 148.5% during the third quarter. Barclays PLC now owns 178,331 shares of the company's stock valued at $5,032,000 after acquiring an additional 106,565 shares during the last quarter. Institutional investors own 18.76% of the company's stock.

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.