Leonardo DRS (NASDAQ:DRS) Given Buy Rating at BTIG Research

Leonardo DRS (NASDAQ:DRS)‘s stock had its “buy” rating reaffirmed by analysts at BTIG Research in a research note issued on Monday, Benzinga reports. They currently have a $50.00 target price on the stock. BTIG Research‘s target price points to a potential upside of 32.70% from the company’s previous close.

DRS has been the subject of several other research reports. Morgan Stanley reduced their target price on shares of Leonardo DRS from $47.00 to $44.00 and set an “equal weight” rating for the company in a report on Friday, October 16th. Guggenheim initiated coverage on Leonardo DRS in a research note on Monday, September 14th. They set a “buy” rating and a $51.00 price objective for the company. Oppenheimer initiated coverage on Leonardo DRS in a report on Thursday, October 22nd. They issued an “outperform” rating and a $45.00 price objective for the company. Weiss Ratings lowered Leonardo DRS from a “buy (b-)” rating to a “hold (c+)” rating in a report on Thursday, October 22nd. Finally, JPMorgan Chase & Co. upped their price objective on Leonardo DRS from $48.00 to $53.00 and gave the stock a “neutral” rating in a research report on Friday, July 31st. Two investment analysts have rated the stock with a Strong Buy rating, four have given a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $51.38.

Leonardo DRS Stock Performance

Shares of NASDAQ:DRS opened at $37.68 on Monday. Leonardo DRS has a 52 week low of $32.43 and a 52 week high of $50.59. The firm has a 50 day moving average of $36.70 and a 200 day moving average of $42.18. The company has a market capitalization of $10.05 billion, a price-to-earnings ratio of 27.71, a price-to-earnings-growth ratio of 2.15 and a beta of 0.36. The company has a quick ratio of 1.56, a current ratio of 1.88 and a debt-to-equity ratio of 0.06.

Leonardo DRS (NASDAQ:DRS) last posted its quarterly earnings data on Thursday, October 29th. The company reported $0.46 EPS for the quarter, topping the consensus estimate of $0.35 by $0.11. The firm had revenue of $1.07 billion during the quarter, compared to analyst estimates of $1.03 billion. Leonardo DRS had a net margin of 9.40% and a return on equity of 14.33%. Leonardo DRS’s revenue was up 11.0% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.29 EPS. On average, sell-side analysts predict that Leonardo DRS will post 1.47 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, EVP Jason Rinsky sold 3,864 shares of the stock in a transaction dated Tuesday, August 4th. The shares were sold at an average price of $45.81, for a total value of $177,009.84. Following the completion of the sale, the executive vice president directly owned 23,581 shares in the company, valued at $1,080,245.61. This represents a 14.08% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Michael Dippold sold 20,317 shares of the business’s stock in a transaction on Wednesday, September 2nd. The stock was sold at an average price of $37.18, for a total value of $755,386.06. Following the transaction, the chief financial officer directly owned 35,143 shares in the company, valued at $1,306,616.74. This trade represents a 36.63% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 0.25% of the company’s stock.

Hedge Funds Weigh In On Leonardo DRS

Several large investors have recently made changes to their positions in the stock. Covestor Ltd increased its stake in Leonardo DRS by 14.7% during the third quarter. Covestor Ltd now owns 3,249 shares of the company’s stock worth $119,000 after purchasing an additional 416 shares during the period. Sumitomo Mitsui Trust Group Inc. increased its stake in shares of Leonardo DRS by 9.2% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 24,805 shares of the company’s stock worth $909,000 after buying an additional 2,090 shares during the period. VIRGINIA RETIREMENT SYSTEMS ET Al lifted its position in shares of Leonardo DRS by 4.1% during the 3rd quarter. VIRGINIA RETIREMENT SYSTEMS ET Al now owns 48,250 shares of the company’s stock worth $1,767,000 after purchasing an additional 1,900 shares during the last quarter. VestGen Advisors LLC acquired a new stake in Leonardo DRS in the third quarter valued at $261,000. Finally, Verdence Capital Advisors LLC acquired a new stake in shares of Leonardo DRS during the 3rd quarter worth about $475,000. 18.76% of the stock is currently owned by institutional investors and hedge funds.

Leonardo DRS Company Profile

Leonardo DRS, Inc is a defense technology company that develops and supplies advanced products and systems for the U.S. military and government customers, as well as allied nations. The company operates as a subsidiary of Leonardo S.p.A. and focuses on technologies used in land, sea, air and space-related defense applications.

Its offerings include sensing and surveillance systems, electro-optical and infrared technologies, radar and electronic warfare products, network computing and communications systems, counter-uncrewed aircraft systems, force protection equipment, and naval power and propulsion systems.