Ducommun (NYSE:DCO) Cut to "Hold" at Zacks Research

Key Points

• Zacks Research downgraded Ducommun from “strong buy” to “hold,” although the broader analyst consensus remains “Moderate Buy” with a $201.50 price target.
• Ducommun reported quarterly EPS of $1.18, exceeding the $0.98 consensus estimate, while revenue rose 11% year over year to $224.49 million.
• The stock opened at $169.65, versus a 12-month range of $84.76 to $210.39; institutional investors own approximately 92.15% of the company.

Ducommun (NYSE:DCO - Get Free Report) was downgraded by research analysts at Zacks Research from a "strong-buy" rating to a "hold" rating in a research report issued on Monday, Zacks reports.

Other research analysts have also issued reports about the company. B. Riley Financial reiterated a "buy" rating on shares of Ducommun in a research report on Friday, August 7th. Wall Street Zen upgraded Ducommun from a "hold" rating to a "buy" rating in a research report on Saturday, August 8th. Weiss Ratings lowered Ducommun from a "hold (c)" rating to a "hold (c-)" rating in a research note on Friday, September 18th. Royal Bank Of Canada upped their price target on Ducommun from $175.00 to $200.00 and gave the company a "sector performer" rating in a research note on Friday, August 7th. Finally, The Goldman Sachs Group reiterated a "buy" rating on shares of Ducommun in a report on Monday, August 10th. Five equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $201.50.

Ducommun Stock Performance

NYSE:DCO opened at $169.65 on Monday. Ducommun has a 12-month low of $84.76 and a 12-month high of $210.39. The company has a quick ratio of 2.38, a current ratio of 3.36 and a debt-to-equity ratio of 0.39. The firm has a market capitalization of $2.56 billion, a PE ratio of 42.50 and a beta of 1.03. The firm has a 50-day moving average price of $178.21 and a 200 day moving average price of $163.16.

Ducommun (NYSE:DCO - Get Free Report) last released its quarterly earnings data on Thursday, August 6th. The aerospace company reported $1.18 earnings per share for the quarter, beating analysts' consensus estimates of $0.98 by $0.20. Ducommun had a positive return on equity of 9.20% and a negative net margin of 3.10%. The company had revenue of $224.49 million for the quarter, compared to the consensus estimate of $214.32 million. During the same period in the previous year, the business earned $0.88 earnings per share. The company's quarterly revenue was up 11.0% on a year-over-year basis. Research analysts anticipate that Ducommun will post 4.26 earnings per share for the current fiscal year.

Insider Activity

In related news, CEO Stephen Oswald sold 2,500 shares of the firm's stock in a transaction dated Tuesday, August 18th. The shares were sold at an average price of $203.95, for a total value of $509,875.00. Following the completion of the sale, the chief executive officer directly owned 383,864 shares in the company, valued at approximately $78,289,062.80. This trade represents a 0.65% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 5.00% of the company's stock.

Institutional Trading of Ducommun

Several institutional investors and hedge funds have recently bought and sold shares of DCO. Allworth Financial LP purchased a new stake in shares of Ducommun during the second quarter valued at $26,000. Public Employees Retirement System of Ohio bought a new stake in Ducommun in the 2nd quarter worth about $33,000. Optiver Holding B.V. purchased a new position in Ducommun in the 1st quarter worth about $27,000. State of Wyoming purchased a new position in Ducommun in the 1st quarter worth about $35,000. Finally, Nykredit A S purchased a new position in Ducommun in the 2nd quarter worth about $55,000. Institutional investors own 92.15% of the company's stock.

Ducommun Company Profile

Ducommun Incorporated NYSE: DCO is a manufacturing company that designs, engineers and produces complex components and assemblies for the aerospace and defense industries. Its products include structural components, electronic and electromechanical systems, wiring and interconnect assemblies, and other specialized parts used in aircraft, spacecraft, missiles and military systems.

The company serves commercial aerospace, defense, space, medical and select industrial markets. Its capabilities include precision machining, forming, composite manufacturing, electronics manufacturing, circuit-card assembly, testing and systems integration.

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