Truist Financial Forecasts Strong Price Appreciation for Leonardo DRS (NASDAQ:DRS) Stock

Leonardo DRS (NASDAQ:DRS) had its target price raised by investment analysts at Truist Financial from $45.00 to $51.00 in a research note issued on Friday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Truist Financial’s target price points to a potential upside of 7.21% from the company’s previous close.

A number of other analysts have also weighed in on the stock. Morgan Stanley raised their target price on shares of Leonardo DRS from $34.00 to $44.00 and gave the company 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 report on Monday, May 5th. The Goldman Sachs Group started coverage on shares of Leonardo DRS in a research note on Monday, June 30th. They issued a “buy” rating and a $49.00 price objective for the company. Wall Street Zen lowered shares of Leonardo DRS from a “buy” rating to a “hold” rating in a research note on Friday, June 27th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Leonardo DRS from $33.00 to $48.00 and gave the company a “neutral” rating in a research note on Monday, June 16th. Three investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $45.86.

Leonardo DRS Trading Up 2.9%

Leonardo DRS stock opened at $47.57 on Friday. The firm has a 50-day moving average of $43.64 and a 200-day moving average of $37.06. Leonardo DRS has a one year low of $22.73 and a one year high of $47.80. 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 company has a market cap of $12.66 billion, a price-to-earnings ratio of 54.68, a P/E/G ratio of 2.76 and a beta of 0.63.

Leonardo DRS (NASDAQ:DRS) last issued its earnings results on Thursday, May 1st. The company reported $0.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.17 by $0.03. The company had revenue of $799.00 million for the quarter, compared to analysts’ expectations of $736.72 million. Leonardo DRS had a net margin of 7.00% and a return on equity of 10.63%. Leonardo DRS’s quarterly revenue was up 16.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.14 EPS. On average, equities analysts expect that Leonardo DRS will post 1.04 earnings per share for the current fiscal year.

Insider Activity

In other Leonardo DRS news, Director David W. Carey sold 6,438 shares of the stock in a transaction on Friday, June 13th. The shares were sold at an average price of $45.94, for a total transaction of $295,761.72. Following the completion of the transaction, the director owned 23,882 shares in the company, valued at $1,097,139.08. This trade represents a 21.23% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.34% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of DRS. Steward Partners Investment Advisory LLC lifted its stake in Leonardo DRS by 233.3% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 1,000 shares of the company’s stock valued at $32,000 after acquiring an additional 700 shares during the period. Charles Schwab Investment Management Inc. increased its holdings in 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 worth $35,165,000 after acquiring an additional 75,999 shares in the last quarter. Raymond James Financial Inc. purchased a new stake in shares of Leonardo DRS during the fourth quarter worth $4,304,000. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of Leonardo DRS by 23.7% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 29,287 shares of the company’s stock worth $946,000 after buying an additional 5,613 shares in the last quarter. Finally, Sequoia Financial Advisors LLC purchased a new stake in shares of Leonardo DRS during the fourth quarter worth $219,000. Hedge funds and other 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.