Leonardo DRS (NASDAQ:DRS) Hits New 1-Year High – Still a Buy?

Leonardo DRS, Inc. (NASDAQ:DRS) reached a new 52-week high during trading on Wednesday . The company traded as high as $32.06 and last traded at $32.06, with a volume of 100157 shares. The stock had previously closed at $28.40.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on DRS. Truist Financial lifted their target price on Leonardo DRS from $30.00 to $32.00 and gave the stock a “buy” rating in a research note on Wednesday, July 31st. Bank of America cut Leonardo DRS from a “buy” rating to a “neutral” rating and lifted their target price for the stock from $26.00 to $30.00 in a research note on Tuesday, September 24th. Robert W. Baird lifted 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. Finally, BTIG Research lifted their target price on Leonardo DRS from $30.00 to $33.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $29.17.

Leonardo DRS Stock Up 15.0 %

The stock has a 50 day moving average of $28.32 and a 200-day moving average of $26.10. The firm has a market capitalization of $8.61 billion, a P/E ratio of 45.16, a PEG ratio of 1.83 and a beta of 0.96. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.60 and a current ratio of 2.01.

Leonardo DRS (NASDAQ:DRS) last announced its quarterly earnings data 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. The business had revenue of $753.00 million for the quarter, compared to analysts’ expectations of $680.38 million. Leonardo DRS had a return on equity of 9.48% and a net margin of 6.12%. The firm’s quarterly revenue was up 19.9% compared to the same quarter last year. During the same period in the previous year, the business posted $0.15 EPS. Research analysts predict that Leonardo DRS, Inc. will post 0.86 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Nisa Investment Advisors LLC grew its holdings in Leonardo DRS by 1,325.9% during the 2nd 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 in the last quarter. PNC Financial Services Group Inc. purchased a new position in Leonardo DRS during the 4th quarter valued at about $35,000. EntryPoint Capital LLC grew its holdings in Leonardo DRS by 165.8% during the 1st 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 in the last quarter. Comerica Bank grew its holdings in shares of Leonardo DRS by 23.7% during the first 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. Finally, New York State Teachers Retirement System grew its holdings in shares of Leonardo DRS by 6.9% during the third quarter. New York State Teachers Retirement System now owns 6,722 shares of the company’s stock worth $190,000 after purchasing an additional 432 shares in the last quarter. Hedge funds and other 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.