Leonardo DRS (NASDAQ:DRS) Stock Price Down 5% – Here’s Why

Leonardo DRS, Inc. (NASDAQ:DRS) dropped 5% during trading on Thursday . The company traded as low as $29.14 and last traded at $29.17. Approximately 483,104 shares changed hands during trading, a decline of 21% from the average daily volume of 615,408 shares. The stock had previously closed at $30.69.

Analyst Upgrades and Downgrades

DRS has been the subject of a number of research reports. BTIG Research increased their target price on Leonardo DRS from $30.00 to $33.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. Truist Financial raised their price target on 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 downgraded Leonardo DRS from a “buy” rating to a “neutral” rating and raised their price target for the stock from $26.00 to $30.00 in a research report on Tuesday, September 24th. Finally, Robert W. Baird increased their target price on Leonardo DRS from $26.00 to $30.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 31st. Three 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 company presently has a consensus rating of “Moderate Buy” and a consensus target price of $29.17.

Leonardo DRS Price Performance

The firm has a 50 day simple moving average of $28.04 and a 200-day simple moving average of $25.42. The company has a quick ratio of 1.60, a current ratio of 2.01 and a debt-to-equity ratio of 0.15. The company has a market cap of $7.68 billion, a PE ratio of 41.69, a price-to-earnings-growth ratio of 1.99 and a beta of 0.96.

Leonardo DRS (NASDAQ:DRS) last issued its quarterly earnings results on Tuesday, July 30th. The company reported $0.18 earnings per share for the quarter, topping the consensus estimate of $0.14 by $0.04. The business had revenue of $753.00 million during the quarter, compared to the consensus estimate of $680.38 million. Leonardo DRS had a return on equity of 9.48% and a net margin of 6.12%. The company’s quarterly revenue was up 19.9% on a year-over-year basis. During the same quarter last year, the company earned $0.15 earnings per share. As a group, research analysts predict that Leonardo DRS, Inc. will post 0.86 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Leonardo DRS

Institutional investors and hedge funds have recently modified their holdings of the company. Nisa Investment Advisors LLC grew its position in Leonardo DRS by 1,325.9% during the second quarter. Nisa Investment Advisors LLC now owns 1,155 shares of the company’s stock valued at $29,000 after buying an additional 1,074 shares during the period. PNC Financial Services Group Inc. acquired a new stake in Leonardo DRS during the fourth quarter valued at $35,000. EntryPoint Capital LLC grew its position in Leonardo DRS by 165.8% during the first quarter. EntryPoint Capital LLC now owns 1,656 shares of the company’s stock valued at $37,000 after buying an additional 1,033 shares during the period. Harel Insurance Investments & Financial Services Ltd. acquired a new stake in Leonardo DRS during the first quarter valued at $50,000. Finally, Comerica Bank grew its position in Leonardo DRS by 23.7% during the first quarter. Comerica Bank now owns 2,750 shares of the company’s stock valued at $61,000 after buying an additional 527 shares during the period. Institutional investors and hedge funds 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.