Leonardo DRS (NASDAQ:DRS) Stock Price Expected to Rise, Morgan Stanley Analyst Says

Leonardo DRS (NASDAQ:DRS) had its price objective hoisted by Morgan Stanley from $44.00 to $45.00 in a research report issued to clients and investors on Monday, Benzinga reports. The brokerage currently has an “equal weight” rating on the stock. Morgan Stanley‘s price target would indicate a potential upside of 21.51% from the company’s current price.

A number of other research firms also recently commented on DRS. Weiss Ratings downgraded shares of Leonardo DRS from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Thursday, October 22nd. Oppenheimer initiated coverage on Leonardo DRS in a research note on Thursday, October 22nd. They issued an “outperform” rating and a $45.00 price target for the company. Guggenheim began coverage on shares of Leonardo DRS in a report on Monday, September 14th. They set a “buy” rating and a $51.00 target price on the stock. JPMorgan Chase & Co. raised their target price on shares of Leonardo DRS from $48.00 to $53.00 and gave the company a “neutral” rating in a report on Friday, July 31st. Finally, BTIG Research reaffirmed a “buy” rating and issued a $50.00 price objective on shares of Leonardo DRS in a research note on Monday. Two investment analysts have rated the stock with a Strong Buy rating, four have given a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $51.50.

Leonardo DRS Stock Down 1.7%

DRS stock traded down $0.65 during mid-day trading on Monday, hitting $37.03. 367,612 shares of the company were exchanged, compared to its average volume of 1,088,439. Leonardo DRS has a 1-year low of $32.43 and a 1-year high of $50.59. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.56 and a current ratio of 1.88. The firm’s 50 day simple moving average is $36.70 and its 200 day simple moving average is $42.18. The firm has a market cap of $9.87 billion, a P/E ratio of 27.29, a P/E/G ratio of 2.15 and a beta of 0.36.

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

Insiders Place Their Bets

In other Leonardo DRS news, EVP Jason Rinsky sold 3,864 shares of the company’s stock in a transaction dated Tuesday, August 4th. The stock was sold at an average price of $45.81, for a total value of $177,009.84. Following the sale, the executive vice president owned 23,581 shares in the company, valued at approximately $1,080,245.61. The trade was a 14.08% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through 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 stock in a transaction dated Wednesday, September 2nd. The shares were sold at an average price of $37.18, for a total value of $755,386.06. Following the completion of the sale, the chief financial officer directly owned 35,143 shares of the company’s stock, valued at approximately $1,306,616.74. The trade was 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. Corporate insiders own 0.25% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Global Retirement Partners LLC acquired a new stake in Leonardo DRS during the 2nd quarter worth about $31,000. Edmond DE Rothschild Holding S.A. bought a new position in shares of Leonardo DRS during the 2nd quarter worth approximately $32,000. CX Institutional boosted its holdings in shares of Leonardo DRS by 1,617.9% during the 3rd quarter. CX Institutional now owns 962 shares of the company’s stock worth $35,000 after buying an additional 906 shares in the last quarter. Fifth Third Bancorp acquired a new stake in shares of Leonardo DRS during the 1st quarter worth approximately $41,000. Finally, Root Financial Partners LLC acquired a new stake in shares of Leonardo DRS during the 3rd quarter worth approximately $47,000. Institutional investors and hedge funds own 18.76% of the company’s stock.

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.