Leonardo DRS (NASDAQ:DRS) Cut to "Hold" at Wall Street Zen

Leonardo DRS (NASDAQ:DRS - Get Free Report) was downgraded by research analysts at Wall Street Zen from a "buy" rating to a "hold" rating in a research note issued on Friday.

A number of other brokerages have also issued reports on DRS. Truist Financial upped their target price on shares of Leonardo DRS from $37.00 to $40.00 and gave the stock a "buy" rating in a research report on Thursday, April 17th. Bank of America upgraded shares of Leonardo DRS from a "neutral" rating to a "buy" rating and set a $40.00 target price on the stock in a research report on Friday, March 7th. Morgan Stanley upped their target price on shares of Leonardo DRS from $34.00 to $44.00 and gave the stock an "equal weight" rating in a research report on Tuesday, May 6th. BTIG Research set a $49.00 target price on shares of Leonardo DRS and gave the stock a "buy" rating in a research report on Monday, May 5th. Finally, JPMorgan Chase & Co. increased their price objective on shares of Leonardo DRS from $33.00 to $48.00 and gave the company a "neutral" rating in a report on Monday, June 16th. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $43.50.

Leonardo DRS Price Performance

Leonardo DRS stock traded up $0.44 during trading hours on Friday, hitting $45.04. 11,143,459 shares of the stock were exchanged, compared to its average volume of 803,582. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.64 and a current ratio of 2.02. The stock has a market capitalization of $11.98 billion, a P/E ratio of 51.77, a P/E/G ratio of 2.59 and a beta of 0.63. Leonardo DRS has a 12 month low of $22.73 and a 12 month high of $46.96. The business's 50-day moving average is $41.80 and its two-hundred day moving average is $36.14.

Leonardo DRS (NASDAQ:DRS - Get Free Report) last announced its earnings results on Thursday, May 1st. The company reported $0.20 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.17 by $0.03. Leonardo DRS had a net margin of 7.00% and a return on equity of 10.63%. The company had revenue of $799.00 million for the quarter, compared to analyst estimates of $736.72 million. During the same period in the prior year, the business earned $0.14 earnings per share. Leonardo DRS's quarterly revenue was up 16.1% on a year-over-year basis. Equities research analysts expect that Leonardo DRS will post 1.04 EPS for the current fiscal year.

Insider Activity at Leonardo DRS

In other Leonardo DRS news, Director David W. Carey sold 6,438 shares of the company's stock in a transaction that occurred on Friday, June 13th. The shares were sold at an average price of $45.94, for a total value of $295,761.72. Following the completion of the sale, the director now owns 23,882 shares of the company's stock, valued at approximately $1,097,139.08. This represents a 21.23% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO John Baylouny sold 3,529 shares of the company's stock in a transaction that occurred on Tuesday, April 8th. The shares were sold at an average price of $31.96, for a total transaction of $112,786.84. Following the completion of the sale, the chief operating officer now directly owns 137,283 shares of the company's stock, valued at $4,387,564.68. The trade was a 2.51% decrease in their position. The disclosure for this sale can be found here. 0.34% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Leonardo DRS

Several large investors have recently bought and sold shares of the company. Voya Investment Management LLC increased its stake in Leonardo DRS by 23.5% in the first quarter. Voya Investment Management LLC now owns 840,588 shares of the company's stock valued at $27,639,000 after purchasing an additional 160,170 shares in the last quarter. Militia Capital Partners LP bought a new stake in shares of Leonardo DRS during the first quarter worth $263,000. Rhumbline Advisers increased its position in shares of Leonardo DRS by 5.7% during the first quarter. Rhumbline Advisers now owns 102,479 shares of the company's stock worth $3,369,000 after acquiring an additional 5,561 shares in the last quarter. Strs Ohio bought a new stake in shares of Leonardo DRS during the first quarter worth $888,000. Finally, Acadian Asset Management LLC bought a new stake in shares of Leonardo DRS during the first quarter worth $225,000. 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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