Leonardo DRS (NASDAQ:DRS) Price Target Raised to $51.00 at Truist Financial

Leonardo DRS (NASDAQ:DRS - Get Free Report) had its price objective lifted by Truist Financial from $45.00 to $51.00 in a report issued on Friday,Benzinga reports. The firm presently has a "buy" rating on the stock. Truist Financial's price objective would indicate a potential upside of 7.21% from the company's previous close.

A number of other brokerages also recently issued reports on DRS. BTIG Research set a $49.00 price target on Leonardo DRS and gave the company a "buy" rating in a report on Monday, May 5th. Morgan Stanley lifted their price target on Leonardo DRS from $34.00 to $44.00 and gave the company an "equal weight" rating in a report on Tuesday, May 6th. JPMorgan Chase & Co. lifted their price target on Leonardo DRS from $33.00 to $48.00 and gave the company a "neutral" rating in a report on Monday, June 16th. Wall Street Zen downgraded Leonardo DRS from a "buy" rating to a "hold" rating in a report on Friday, June 27th. Finally, The Goldman Sachs Group assumed coverage on Leonardo DRS in a research report on Monday, June 30th. They issued a "buy" rating and a $49.00 price objective for the company. Three investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, Leonardo DRS has a consensus rating of "Moderate Buy" and an average price target of $45.86.

Leonardo DRS Trading Up 2.9%

Shares of NASDAQ:DRS traded up $1.33 during trading on Friday, hitting $47.57. The company had a trading volume of 866,834 shares, compared to its average volume of 824,503. The stock has a market cap of $12.66 billion, a price-to-earnings ratio of 54.68, a price-to-earnings-growth ratio of 2.68 and a beta of 0.63. Leonardo DRS has a one year low of $22.73 and a one year high of $47.80. The company has a fifty day simple moving average of $43.64 and a two-hundred day simple moving average of $37.03. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.02 and a quick ratio of 1.64.

Leonardo DRS (NASDAQ:DRS - Get Free Report) last issued its quarterly earnings results on Thursday, May 1st. The company reported $0.20 earnings per share for the quarter, topping the consensus estimate of $0.17 by $0.03. The firm 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 10.63% and a net margin of 7.00%. The company's revenue for the quarter was up 16.1% on a year-over-year basis. During the same period in the prior year, the business posted $0.14 earnings per share. As a group, equities analysts forecast that Leonardo DRS will post 1.04 earnings per share for the current year.

Insider Buying and Selling at Leonardo DRS

In other Leonardo DRS news, Director David W. Carey sold 6,438 shares of Leonardo DRS stock in a transaction dated Friday, June 13th. The stock was sold at an average price of $45.94, for a total transaction of $295,761.72. Following the completion of the sale, the director owned 23,882 shares of the company's stock, valued at approximately $1,097,139.08. The trade was a 21.23% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.34% of the stock is owned by insiders.

Institutional Trading of Leonardo DRS

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Yorktown Management & Research Co Inc acquired a new stake in Leonardo DRS during the 1st quarter worth about $260,000. Ameriprise Financial Inc. acquired a new position in shares of Leonardo DRS in the 4th quarter valued at about $344,000. Brevan Howard Capital Management LP acquired a new position in shares of Leonardo DRS in the 4th quarter valued at about $503,000. Vanguard Group Inc. lifted its holdings in shares of Leonardo DRS by 3.4% in the 4th quarter. Vanguard Group Inc. now owns 7,934,919 shares of the company's stock valued at $256,377,000 after buying an additional 263,002 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its holdings in shares of Leonardo DRS by 7.5% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,088,369 shares of the company's stock valued at $35,165,000 after buying an additional 75,999 shares during the period. Institutional investors and hedge funds own 18.76% of the company's stock.

About Leonardo DRS

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.