JPMorgan Chase & Co. Forecasts Strong Price Appreciation for Leonardo DRS (NASDAQ:DRS) Stock

Leonardo DRS (NASDAQ:DRS - Get Free Report) had its price objective boosted by research analysts at JPMorgan Chase & Co. from $33.00 to $48.00 in a report released on Monday,Benzinga reports. The brokerage presently has a "neutral" rating on the stock. JPMorgan Chase & Co.'s price target points to a potential upside of 4.19% from the stock's current price.

Several other equities research analysts have also issued reports on DRS. Truist Financial increased their target price on shares of Leonardo DRS from $37.00 to $40.00 and gave the stock a "buy" rating in a research note on Thursday, April 17th. BTIG Research set a $49.00 price objective on Leonardo DRS and gave the stock a "buy" rating in a research report on Monday, May 5th. Morgan Stanley lifted their price target on Leonardo DRS from $34.00 to $44.00 and gave the stock an "equal weight" rating in a research note on Tuesday, May 6th. Finally, Bank of America raised shares of Leonardo DRS from a "neutral" rating to a "buy" rating and set a $40.00 price objective on the stock in a research note on Friday, March 7th. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, Leonardo DRS currently has a consensus rating of "Moderate Buy" and a consensus price target of $43.50.

Leonardo DRS Trading Up 1.7%

NASDAQ:DRS opened at $46.07 on Monday. Leonardo DRS has a 52 week low of $22.73 and a 52 week high of $47.25. The company's 50 day moving average price is $39.94 and its 200-day moving average price is $35.51. 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 market cap of $12.26 billion, a price-to-earnings ratio of 58.32, a PEG ratio of 1.41 and a beta of 0.63.

Leonardo DRS (NASDAQ:DRS - Get Free Report) last issued its earnings results on Thursday, May 1st. The company reported $0.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.17 by $0.03. The company had revenue of $799.00 million for the quarter, compared to the consensus estimate of $736.72 million. Leonardo DRS had a return on equity of 10.37% and a net margin of 6.59%. The firm's quarterly revenue was up 16.1% on a year-over-year basis. During the same quarter last year, the company earned $0.14 EPS. On average, equities research analysts forecast that Leonardo DRS will post 1.04 earnings per share for the current fiscal year.

Leonardo DRS declared that its board has approved a stock repurchase plan on Thursday, February 20th that permits the company to repurchase $75.00 million in outstanding shares. This repurchase authorization permits the company to buy up to 0.9% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company's management believes its shares are undervalued.

Insider Activity at Leonardo DRS

In related news, CFO Michael Dippold sold 26,618 shares of the firm's stock in a transaction dated Tuesday, March 18th. The shares were sold at an average price of $32.70, for a total transaction of $870,408.60. Following the transaction, the chief financial officer now directly owns 68,802 shares of the company's stock, valued at $2,249,825.40. This trade represents a 27.90% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, COO John Baylouny sold 3,529 shares of the business's stock in a transaction dated Tuesday, April 8th. The stock was sold at an average price of $31.96, for a total transaction of $112,786.84. Following the completion of the transaction, the chief operating officer now directly owns 137,283 shares in the company, valued at $4,387,564.68. This trade represents a 2.51% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 92,354 shares of company stock worth $3,019,773. Corporate insiders own 0.34% of the company's stock.

Institutional Trading of Leonardo DRS

A number of hedge funds and other institutional investors have recently bought and sold shares of DRS. Rhumbline Advisers increased its position in shares of Leonardo DRS by 1.8% in the fourth quarter. Rhumbline Advisers now owns 96,918 shares of the company's stock valued at $3,131,000 after acquiring an additional 1,759 shares during the period. CIBC Asset Management Inc increased its stake in shares of Leonardo DRS by 5.3% in the 4th quarter. CIBC Asset Management Inc now owns 8,060 shares of the company's stock worth $260,000 after purchasing an additional 405 shares in the last quarter. New York State Common Retirement Fund lifted its stake in shares of Leonardo DRS by 5.4% during the 4th quarter. New York State Common Retirement Fund now owns 26,335 shares of the company's stock valued at $851,000 after buying an additional 1,356 shares in the last quarter. Meitav Investment House Ltd. grew its stake in Leonardo DRS by 19.0% during the fourth quarter. Meitav Investment House Ltd. now owns 12,940 shares of the company's stock valued at $418,000 after acquiring an additional 2,064 shares in the last quarter. Finally, IFP Advisors Inc lifted its holdings in shares of Leonardo DRS by 37.0% in the 4th quarter. IFP Advisors Inc now owns 1,944 shares of the company's stock valued at $63,000 after acquiring an additional 525 shares during the last quarter. Institutional investors own 18.76% of the company's stock.

Leonardo DRS Company Profile

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.

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