Leonardo DRS, Inc. (NASDAQ:DRS) Receives $33.00 Consensus Price Target from Brokerages

Leonardo DRS, Inc. (NASDAQ:DRS) has been given an average recommendation of “Moderate Buy” by the six analysts that are currently covering the company, Marketbeat.com reports. Three analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average 1 year price objective among brokerages that have covered the stock in the last year is $33.00.

DRS has been the topic of a number of research analyst reports. Robert W. Baird lifted their price target on Leonardo DRS from $30.00 to $40.00 and gave the company an “outperform” rating in a report on Thursday, October 31st. JPMorgan Chase & Co. increased their price target on shares of Leonardo DRS from $29.00 to $32.00 and gave the stock a “neutral” rating in a research report on Monday, November 4th. Finally, Truist Financial boosted their price objective on shares of Leonardo DRS from $36.00 to $37.00 and gave the company a “buy” rating in a research report on Tuesday, January 14th.

Insider Transactions at Leonardo DRS

In other news, COO John Baylouny sold 8,235 shares of the company’s stock in a transaction dated Wednesday, December 11th. The shares were sold at an average price of $34.50, for a total transaction of $284,107.50. Following the completion of the transaction, the chief operating officer now owns 81,863 shares of the company’s stock, valued at approximately $2,824,273.50. This represents a 9.14 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO William Lynn III sold 45,000 shares of Leonardo DRS stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $34.07, for a total value of $1,533,150.00. Following the sale, the chief executive officer now directly owns 234,937 shares in the company, valued at approximately $8,004,303.59. This trade represents a 16.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 98,083 shares of company stock worth $3,349,255. 0.12% of the stock is owned by corporate insiders.

Institutional Trading of Leonardo DRS

A number of institutional investors and hedge funds have recently modified their holdings of the company. Jennison Associates LLC boosted its stake in Leonardo DRS by 31.0% in the 4th quarter. Jennison Associates LLC now owns 32,647 shares of the company’s stock valued at $1,055,000 after buying an additional 7,728 shares in the last quarter. McAdam LLC bought a new position in Leonardo DRS during the 4th quarter valued at about $277,000. Total Clarity Wealth Management Inc. bought a new stake in Leonardo DRS during the fourth quarter worth about $215,000. Robeco Institutional Asset Management B.V. bought a new position in shares of Leonardo DRS in the fourth quarter valued at approximately $213,000. Finally, KBC Group NV boosted its holdings in shares of Leonardo DRS by 42.0% in the 4th quarter. KBC Group NV now owns 3,671 shares of the company’s stock worth $119,000 after acquiring an additional 1,086 shares in the last quarter. 18.76% of the stock is currently owned by institutional investors.

Leonardo DRS Stock Performance

Shares of NASDAQ DRS opened at $36.81 on Wednesday. Leonardo DRS has a 52-week low of $18.73 and a 52-week high of $37.99. The stock has a market capitalization of $9.73 billion, a price-to-earnings ratio of 49.74, a PEG ratio of 1.63 and a beta of 1.00. 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’s fifty day simple moving average is $34.29 and its 200 day simple moving average is $30.76.

Leonardo DRS (NASDAQ:DRS) last announced its earnings results on Wednesday, October 30th. The company reported $0.24 EPS for the quarter, topping 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 company had revenue of $812.00 million during the quarter, compared to analysts’ expectations of $775.44 million. During the same period last year, the company posted $0.20 earnings per share. The business’s revenue for the quarter was up 15.5% on a year-over-year basis. As a group, sell-side analysts forecast that Leonardo DRS will post 0.92 earnings per share for the current fiscal year.

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.