Leonardo DRS (NASDAQ:DRS) Stock Price Target Lowered at JPMorgan Chase & Co.

Key Points

• JPMorgan cut its Leonardo DRS price target from $53 to $48 while maintaining a neutral rating; the new target implies about 30% upside from the stock’s quoted price of $36.84.
• Analyst sentiment overall remains positive: the stock has an average “Buy” rating and a consensus price target of $50.88.
• Leonardo DRS beat quarterly estimates, reporting EPS of $0.46 versus $0.35 expected and revenue of $1.07 billion, up 11% year over year.

Leonardo DRS (NASDAQ:DRS - Get Free Report) had its target price lowered by analysts at JPMorgan Chase & Co. from $53.00 to $48.00 in a research note issued to investors on Wednesday, Benzinga reports. The firm presently has a "neutral" rating on the stock. JPMorgan Chase & Co.'s price objective points to a potential upside of 30.31% from the stock's current price.

Several other research analysts have also recently commented on DRS. Weiss Ratings raised Leonardo DRS from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Wednesday, November 4th. Morgan Stanley upped their price objective on Leonardo DRS from $44.00 to $45.00 and gave the stock an "equal weight" rating in a research note on Monday, November 2nd. Guggenheim began coverage on Leonardo DRS in a report on Monday, September 14th. They issued a "buy" rating and a $51.00 price objective for the company. BTIG Research reissued a "buy" rating and issued a $50.00 price objective on shares of Leonardo DRS in a report on Monday, November 2nd. Finally, Oppenheimer began coverage on shares of Leonardo DRS in a research note on Thursday, October 22nd. They issued an "outperform" rating and a $45.00 target price for the company. Three investment analysts have rated the stock with a Strong Buy rating, five have given a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Buy" and an average target price of $50.88.

Leonardo DRS Stock Up 0.8%

Leonardo DRS stock traded up $0.30 during mid-day trading on Wednesday, reaching $36.84. The company's stock had a trading volume of 92,283 shares, compared to its average volume of 1,112,232. The company has a market capitalization of $9.82 billion, a price-to-earnings ratio of 27.11, a price-to-earnings-growth ratio of 1.95 and a beta of 0.37. Leonardo DRS has a 12 month low of $32.39 and a 12 month high of $50.59. The business's 50 day simple moving average is $36.29 and its 200 day simple moving average is $41.97. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.56 and a current ratio of 1.88.

Leonardo DRS (NASDAQ:DRS - Get Free Report) last issued its quarterly earnings results on Thursday, October 29th. The company reported $0.46 EPS for the quarter, topping the consensus estimate of $0.35 by $0.11. Leonardo DRS had a net margin of 9.40% and a return on equity of 14.33%. The firm had revenue of $1.07 billion for the quarter, compared to analysts' expectations of $1.03 billion. During the same period in the previous year, the firm posted $0.29 EPS. The company's revenue for the quarter was up 11.0% on a year-over-year basis. As a group, research analysts anticipate that Leonardo DRS will post 1.52 earnings per share for the current year.

Insider Activity

In other news, CFO Michael Dippold sold 14,317 shares of Leonardo DRS stock in a transaction that occurred on Monday, November 2nd. The stock was sold at an average price of $37.91, for a total transaction of $542,757.47. Following the completion of the transaction, the chief financial officer directly owned 20,826 shares in the company, valued at approximately $789,513.66. The trade was a 40.74% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.25% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Leonardo DRS

Several hedge funds have recently added to or reduced their stakes in DRS. Focus Advisor Solutions LLC raised its position in shares of Leonardo DRS by 43.8% in the third quarter. Focus Advisor Solutions LLC now owns 17,753 shares of the company's stock valued at $650,000 after purchasing an additional 5,406 shares during the period. Stephens Investment Management Group LLC boosted its holdings in shares of Leonardo DRS by 0.3% during the 3rd quarter. Stephens Investment Management Group LLC now owns 2,410,219 shares of the company's stock worth $88,286,000 after buying an additional 8,318 shares during the period. Global Retirement Partners LLC boosted its holdings in shares of Leonardo DRS by 2,054.6% during the 3rd quarter. Global Retirement Partners LLC now owns 15,750 shares of the company's stock worth $577,000 after buying an additional 15,019 shares during the period. Edgestream Partners L.P. acquired a new position in Leonardo DRS in the 3rd quarter valued at about $6,258,000. Finally, Hantz Financial Services Inc. grew its stake in Leonardo DRS by 69.2% in the 3rd quarter. Hantz Financial Services Inc. now owns 2,539 shares of the company's stock valued at $93,000 after buying an additional 1,038 shares during the last quarter. Institutional investors and hedge funds own 18.76% of the company's stock.

Leonardo DRS Company Profile

Leonardo DRS, Inc. is a U.S.-based defense technology company and a subsidiary of the Italian aerospace and defense group Leonardo S.p.A. It develops and supplies advanced products and services for the U.S. military and other government and commercial customers. The company's offerings include naval power and propulsion systems, combat and mission systems, electro-optical and infrared sensors, electronic warfare and communications equipment, and computing and networking technologies. Its products support operations across maritime, land, air and space domains.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.