Truist Financial Increases Leonardo DRS (NASDAQ:DRS) Price Target to $30.00

Leonardo DRS (NASDAQ:DRS) had its target price upped by Truist Financial from $27.00 to $30.00 in a research report report published on Wednesday morning, Benzinga reports. They currently have a buy rating on the stock.

A number of other brokerages have also recently commented on DRS. Morgan Stanley assumed coverage on shares of Leonardo DRS in a research note on Friday, May 24th. They set an equal weight rating and a $26.00 price target on the stock. BTIG Research assumed coverage on shares of Leonardo DRS in a research note on Wednesday, June 26th. They set a buy rating and a $30.00 price target on the stock. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of Moderate Buy and a consensus price target of $27.20.

Leonardo DRS Stock Down 0.2 %

DRS opened at $27.79 on Wednesday. The company has a quick ratio of 1.59, a current ratio of 1.96 and a debt-to-equity ratio of 0.15. The stock has a market cap of $7.31 billion, a price-to-earnings ratio of 39.70, a PEG ratio of 2.12 and a beta of 0.89. Leonardo DRS has a twelve month low of $15.75 and a twelve month high of $28.70. The company’s 50-day moving average price is $25.05 and its two-hundred day moving average price is $22.36.

Leonardo DRS (NASDAQ:DRS) last released its earnings results on Wednesday, May 1st. The company reported $0.14 earnings per share for the quarter, beating analysts’ consensus estimates of $0.11 by $0.03. The firm had revenue of $688.00 million for the quarter, compared to analysts’ expectations of $645.56 million. Leonardo DRS had a net margin of 6.28% and a return on equity of 9.35%. The company’s quarterly revenue was up 20.9% on a year-over-year basis. During the same period in the previous year, the company earned $0.07 earnings per share. As a group, equities analysts expect that Leonardo DRS will post 0.81 earnings per share for the current year.

Institutional Trading of Leonardo DRS

Several institutional investors and hedge funds have recently bought and sold shares of the company. Comerica Bank lifted its stake in Leonardo DRS by 23.7% in the 1st quarter. Comerica Bank now owns 2,750 shares of the company’s stock worth $61,000 after purchasing an additional 527 shares in the last quarter. ProShare Advisors LLC lifted its stake in Leonardo DRS by 8.5% in the 1st quarter. ProShare Advisors LLC now owns 12,346 shares of the company’s stock worth $273,000 after purchasing an additional 972 shares in the last quarter. EntryPoint Capital LLC lifted its stake in Leonardo DRS by 165.8% in the 1st quarter. EntryPoint Capital LLC now owns 1,656 shares of the company’s stock worth $37,000 after purchasing an additional 1,033 shares in the last quarter. Nisa Investment Advisors LLC lifted its stake in Leonardo DRS by 1,325.9% in the 2nd quarter. Nisa Investment Advisors LLC now owns 1,155 shares of the company’s stock worth $29,000 after purchasing an additional 1,074 shares in the last quarter. Finally, Tower View Wealth Management LLC lifted its stake in Leonardo DRS by 1.2% in the 4th quarter. Tower View Wealth Management LLC now owns 100,545 shares of the company’s stock worth $2,015,000 after purchasing an additional 1,201 shares in the last quarter. 18.76% of the stock is currently owned by hedge funds and other institutional investors.

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.