Leonardo DRS (NASDAQ:DRS) Trading Up 2.8%

Leonardo DRS, Inc. (NASDAQ:DRS)’s share price shot up 2.8% on Wednesday . The company traded as high as $28.37 and last traded at $28.35. 98,520 shares traded hands during trading, a decline of 84% from the average session volume of 631,392 shares. The stock had previously closed at $27.57.

Analyst Ratings Changes

Several brokerages recently weighed in on DRS. Morgan Stanley assumed coverage on Leonardo DRS in a research report on Friday, May 24th. They set an “equal weight” rating and a $26.00 price objective for the company. BTIG Research raised their price target on shares of Leonardo DRS from $30.00 to $33.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. Robert W. Baird upped their price objective on shares of Leonardo DRS from $26.00 to $30.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 31st. Finally, Truist Financial increased their price objective on shares of Leonardo DRS from $30.00 to $32.00 and gave the company a “buy” rating in a research note on Wednesday, July 31st. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $28.50.

Leonardo DRS Stock Performance

The stock has a market capitalization of $7.44 billion, a price-to-earnings ratio of 40.41, a P/E/G ratio of 1.98 and a beta of 0.89. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.60 and a current ratio of 2.01. The stock has a fifty day simple moving average of $27.08 and a two-hundred day simple moving average of $24.02.

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

Institutional Trading of Leonardo DRS

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. boosted its stake in Leonardo DRS by 50.8% during the 4th quarter. Vanguard Group Inc. now owns 7,389,350 shares of the company’s stock valued at $148,083,000 after purchasing an additional 2,490,447 shares during the last quarter. Swiss National Bank boosted its position in shares of Leonardo DRS by 50.5% during the first quarter. Swiss National Bank now owns 155,300 shares of the company’s stock valued at $3,431,000 after buying an additional 52,100 shares during the last quarter. California State Teachers Retirement System raised its position in Leonardo DRS by 33.9% in the 1st quarter. California State Teachers Retirement System now owns 77,704 shares of the company’s stock valued at $1,716,000 after buying an additional 19,673 shares during the last quarter. Cannon Global Investment Management LLC bought a new position in Leonardo DRS during the 1st quarter valued at $725,000. Finally, Price T Rowe Associates Inc. MD boosted its holdings in Leonardo DRS by 15.4% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 2,180,347 shares of the company’s stock worth $48,165,000 after acquiring an additional 290,188 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.