Robert W. Baird Increases Leonardo DRS (NASDAQ:DRS) Price Target to $30.00

Leonardo DRS (NASDAQ:DRS) had its target price increased by Robert W. Baird from $26.00 to $30.00 in a report published on Wednesday, Benzinga reports. Robert W. Baird currently has an outperform rating on the stock.

Several other equities analysts have also recently weighed in on the company. BTIG Research began coverage on Leonardo DRS in a research note on Wednesday, June 26th. They set a buy rating and a $30.00 target price on the stock. Truist Financial boosted their price objective on shares of Leonardo DRS from $27.00 to $30.00 and gave the company a buy rating in a research report on Wednesday, July 17th. Finally, Morgan Stanley began coverage on shares of Leonardo DRS in a research report on Friday, May 24th. They issued an equal weight rating and a $26.00 target price for the company. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of Moderate Buy and an average target price of $28.50.

Leonardo DRS Price Performance

DRS stock opened at $26.51 on Wednesday. The firm has a 50-day moving average of $25.94 and a two-hundred day moving average of $23.00. Leonardo DRS has a one year low of $15.75 and a one year high of $29.85. The company has a current ratio of 2.01, a quick ratio of 1.59 and a debt-to-equity ratio of 0.15. The firm has a market capitalization of $6.99 billion, a PE ratio of 37.87, a P/E/G ratio of 2.01 and a beta of 0.89.

Leonardo DRS (NASDAQ:DRS) last released its earnings results on Tuesday, July 30th. The company reported $0.18 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.14 by $0.04. Leonardo DRS had a return on equity of 9.48% and a net margin of 6.12%. The company had revenue of $753.00 million during the quarter, compared to analyst estimates of $680.38 million. During the same quarter in the prior year, the company earned $0.15 earnings per share. The company’s revenue for the quarter was up 19.9% on a year-over-year basis. On average, analysts forecast that Leonardo DRS will post 0.84 earnings per share for the current year.

Hedge Funds Weigh In On Leonardo DRS

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. TD Asset Management Inc increased its stake in shares of Leonardo DRS by 17.2% during the 2nd quarter. TD Asset Management Inc now owns 106,212 shares of the company’s stock worth $2,709,000 after purchasing an additional 15,614 shares during the last quarter. Rhumbline Advisers boosted its holdings in Leonardo DRS by 11.8% in the second quarter. Rhumbline Advisers now owns 99,709 shares of the company’s stock worth $2,544,000 after purchasing an additional 10,492 shares in the last quarter. Van ECK Associates Corp acquired a new position in Leonardo DRS during the second quarter worth $11,093,000. Principal Financial Group Inc. raised its holdings in Leonardo DRS by 25.4% during the second quarter. Principal Financial Group Inc. now owns 135,479 shares of the company’s stock valued at $3,456,000 after buying an additional 27,471 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of Leonardo DRS by 36.5% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 23,674 shares of the company’s stock worth $604,000 after buying an additional 6,335 shares during the last quarter. Institutional investors own 18.76% of the company’s stock.

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.