Leonardo DRS (NASDAQ:DRS) Shares Down 3.8%

Leonardo DRS, Inc. (NASDAQ:DRS) dropped 3.8% during mid-day trading on Tuesday . The stock traded as low as $27.41 and last traded at $27.48. Approximately 70,180 shares traded hands during trading, a decline of 89% from the average daily volume of 613,610 shares. The stock had previously closed at $28.58.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on DRS shares. BTIG Research raised their price target on Leonardo DRS from $30.00 to $33.00 and gave the company a “buy” rating in a report on Thursday, August 1st. Robert W. Baird raised their target price on Leonardo DRS from $26.00 to $30.00 and gave the company an “outperform” rating in a report on Wednesday, July 31st. Truist Financial boosted their target price on shares of Leonardo DRS from $30.00 to $32.00 and gave the stock a “buy” rating in a research report on Wednesday, July 31st. Finally, Bank of America downgraded shares of Leonardo DRS from a “buy” rating to a “neutral” rating and increased their price target for the company from $26.00 to $30.00 in a report on Tuesday. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $29.17.

Leonardo DRS Stock Down 5.2 %

The company has a current ratio of 2.01, a quick ratio of 1.60 and a debt-to-equity ratio of 0.15. The firm has a 50 day moving average price of $27.73 and a 200-day moving average price of $24.80. The firm has a market cap of $7.13 billion, a price-to-earnings ratio of 40.83, a P/E/G ratio of 2.02 and a beta of 0.96.

Leonardo DRS (NASDAQ:DRS) last announced its earnings results on Tuesday, July 30th. The company reported $0.18 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.14 by $0.04. The company had revenue of $753.00 million during the quarter, compared to analysts’ expectations of $680.38 million. Leonardo DRS had a net margin of 6.12% and a return on equity of 9.48%. The firm’s quarterly revenue was up 19.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.15 earnings per share. On average, equities analysts forecast that Leonardo DRS, Inc. will post 0.84 EPS for the current year.

Institutional Trading of Leonardo DRS

Institutional investors and hedge funds have recently made changes to their positions in the stock. Blair William & Co. IL raised its stake in Leonardo DRS by 1.1% in the 2nd quarter. Blair William & Co. IL now owns 36,850 shares of the company’s stock valued at $940,000 after purchasing an additional 400 shares during the last quarter. Arizona State Retirement System raised its position in shares of Leonardo DRS by 2.0% in the second quarter. Arizona State Retirement System now owns 22,056 shares of the company’s stock valued at $563,000 after buying an additional 424 shares during the last quarter. Comerica Bank lifted its stake in shares of 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. ProShare Advisors LLC boosted its position in Leonardo DRS by 8.5% during the first quarter. ProShare Advisors LLC now owns 12,346 shares of the company’s stock worth $273,000 after acquiring an additional 972 shares during the last quarter. Finally, EntryPoint Capital LLC grew 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 acquiring an additional 1,033 shares during the period. 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.