Leonardo DRS (NASDAQ:DRS) Sets New 1-Year High – Time to Buy?

Leonardo DRS, Inc. (NASDAQ:DRS) hit a new 52-week high during trading on Wednesday . The stock traded as high as $35.05 and last traded at $34.71, with a volume of 18528 shares trading hands. The stock had previously closed at $33.04.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the stock. JPMorgan Chase & Co. upped their target price on shares of Leonardo DRS from $29.00 to $32.00 and gave the stock a “neutral” rating in a research report on Monday. Bank of America downgraded Leonardo DRS from a “buy” rating to a “neutral” rating and raised their price objective for the company from $26.00 to $30.00 in a research note on Tuesday, September 24th. Robert W. Baird boosted their target price on Leonardo DRS from $30.00 to $40.00 and gave the stock an “outperform” rating in a research report on Thursday, October 31st. Truist Financial raised their price target on Leonardo DRS from $30.00 to $32.00 and gave the company a “buy” rating in a research report on Wednesday, July 31st. Finally, BTIG Research boosted their price objective on shares of Leonardo DRS from $30.00 to $33.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, Leonardo DRS has an average rating of “Moderate Buy” and a consensus target price of $32.17.

Leonardo DRS Stock Performance

The company has a quick ratio of 1.70, a current ratio of 2.11 and a debt-to-equity ratio of 0.14. The stock has a fifty day moving average price of $28.81 and a two-hundred day moving average price of $26.52. The company has a market capitalization of $9.37 billion, a price-to-earnings ratio of 47.88, a PEG ratio of 1.98 and a beta of 0.95.

Leonardo DRS (NASDAQ:DRS) last announced its earnings results on Wednesday, October 30th. The company reported $0.24 earnings per share for the quarter, beating the consensus estimate of $0.20 by $0.04. Leonardo DRS had a net margin of 6.23% and a return on equity of 9.71%. The firm had revenue of $812.00 million during the quarter, compared to the consensus estimate of $775.44 million. During the same quarter in the previous year, the company posted $0.20 EPS. The firm’s revenue for the quarter was up 15.5% on a year-over-year basis. As a group, analysts forecast that Leonardo DRS, Inc. will post 0.89 EPS for the current fiscal year.

Hedge Funds Weigh In On Leonardo DRS

Several institutional investors and hedge funds have recently modified their holdings of DRS. Nisa Investment Advisors LLC raised its holdings in Leonardo DRS by 1,325.9% in the 2nd quarter. Nisa Investment Advisors LLC now owns 1,155 shares of the company’s stock valued at $29,000 after acquiring an additional 1,074 shares during the last quarter. EntryPoint Capital LLC grew its position in shares of Leonardo DRS by 165.8% in the first quarter. EntryPoint Capital LLC now owns 1,656 shares of the company’s stock valued at $37,000 after purchasing an additional 1,033 shares during the period. Covestor Ltd increased its stake in Leonardo DRS by 226.8% in the third quarter. Covestor Ltd now owns 1,814 shares of the company’s stock valued at $51,000 after purchasing an additional 1,259 shares during the last quarter. KBC Group NV lifted its position in Leonardo DRS by 42.5% during the third quarter. KBC Group NV now owns 2,585 shares of the company’s stock worth $73,000 after buying an additional 771 shares during the period. Finally, Comerica Bank boosted its stake in Leonardo DRS by 23.7% in the 1st quarter. Comerica Bank now owns 2,750 shares of the company’s stock worth $61,000 after buying an additional 527 shares during the last quarter. Hedge funds and other 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.