Leonardo DRS (NASDAQ:DRS) Coverage Initiated at The Goldman Sachs Group

Equities researchers at The Goldman Sachs Group started coverage on shares of Leonardo DRS (NASDAQ:DRS) in a report issued on Monday, MarketBeat Ratings reports. The brokerage set a “buy” rating and a $49.00 price target on the stock. The Goldman Sachs Group’s price objective points to a potential upside of 8.67% from the company’s current price.

Several other analysts have also issued reports on DRS. Truist Financial upped their target price on Leonardo DRS from $37.00 to $40.00 and gave the stock a “buy” rating in a report on Thursday, April 17th. Bank of America upgraded Leonardo DRS from a “neutral” rating to a “buy” rating and set a $40.00 target price on the stock in a report on Friday, March 7th. BTIG Research set a $49.00 target price on Leonardo DRS and gave the stock a “buy” rating in a report on Monday, May 5th. Wall Street Zen downgraded Leonardo DRS from a “buy” rating to a “hold” rating in a research report on Friday, June 27th. Finally, JPMorgan Chase & Co. boosted their price target on Leonardo DRS from $33.00 to $48.00 and gave the stock a “neutral” rating in a research report on Monday, June 16th. Three research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $44.29.

Leonardo DRS Stock Performance

Shares of Leonardo DRS stock opened at $45.09 on Monday. Leonardo DRS has a one year low of $22.73 and a one year high of $46.96. The firm has a market cap of $12.00 billion, a price-to-earnings ratio of 51.83, a price-to-earnings-growth ratio of 2.70 and a beta of 0.63. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.02 and a quick ratio of 1.64. The stock’s 50-day moving average is $42.23 and its 200-day moving average is $36.31.

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

Insider Buying and Selling

In other news, COO John Baylouny sold 3,529 shares of the company’s stock in a transaction that occurred on Tuesday, April 8th. The stock was sold at an average price of $31.96, for a total value of $112,786.84. Following the transaction, the chief operating officer owned 137,283 shares of the company’s stock, valued at approximately $4,387,564.68. This represents a 2.51% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, 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 transaction, the director directly owned 23,882 shares in the company, valued at $1,097,139.08. The trade was a 21.23% decrease in their position. The disclosure for this sale can be found here. 0.12% of the stock is owned by insiders.

Institutional Investors Weigh In On Leonardo DRS

A number of large investors have recently added to or reduced their stakes in DRS. Hsbc Holdings PLC lifted its stake in Leonardo DRS by 4.0% during the first quarter. Hsbc Holdings PLC now owns 9,191 shares of the company’s stock worth $298,000 after purchasing an additional 357 shares during the last quarter. Cerity Partners LLC lifted its stake in Leonardo DRS by 1.1% during the fourth quarter. Cerity Partners LLC now owns 34,410 shares of the company’s stock worth $1,112,000 after purchasing an additional 359 shares during the last quarter. Bank of Montreal Can lifted its stake in Leonardo DRS by 2.1% during the fourth quarter. Bank of Montreal Can now owns 18,380 shares of the company’s stock worth $594,000 after purchasing an additional 379 shares during the last quarter. Summit Investment Advisors Inc. lifted its stake in Leonardo DRS by 6.8% during the fourth quarter. Summit Investment Advisors Inc. now owns 7,702 shares of the company’s stock worth $249,000 after purchasing an additional 489 shares during the last quarter. Finally, IFP Advisors Inc lifted its stake in Leonardo DRS by 37.0% during the fourth quarter. IFP Advisors Inc now owns 1,944 shares of the company’s stock worth $63,000 after purchasing an additional 525 shares during the last quarter. 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.