Ducommun (NYSE:DCO) Stock Price Target Lowered at Royal Bank Of Canada

Key Points

• Royal Bank of Canada lowered Ducommun’s price target from $200 to $180 while maintaining a “sector perform” rating, implying 8.88% upside from the prior close.
• Analyst sentiment remains generally positive: five analysts rate the stock a Buy and three rate it a Hold, producing a “Moderate Buy” consensus and an average price target of $198.17.
• Ducommun recently exceeded quarterly expectations, reporting $1.18 in EPS versus a $0.98 estimate and revenue of $224.49 million, up 11% year over year.

Ducommun (NYSE:DCO - Get Free Report) had its price objective reduced by equities researchers at Royal Bank Of Canada from $200.00 to $180.00 in a research report issued to clients and investors on Wednesday, Benzinga reports. The firm currently has a "sector perform" rating on the aerospace company's stock. Royal Bank Of Canada's price objective points to a potential upside of 8.88% from the stock's previous close.

Other analysts have also recently issued research reports about the company. The Goldman Sachs Group reissued a "buy" rating on shares of Ducommun in a research report on Monday, August 10th. Citigroup reaffirmed a "buy" rating on shares of Ducommun in a research note on Wednesday, August 12th. Truist Financial raised their price target on Ducommun from $150.00 to $209.00 and gave the stock a "buy" rating in a research note on Thursday, August 13th. Wall Street Zen upgraded Ducommun from a "hold" rating to a "buy" rating in a report on Saturday, August 8th. Finally, B. Riley Financial reissued a "buy" rating on shares of Ducommun in a research note on Friday, August 7th. Five research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $198.17.

Ducommun Price Performance

DCO traded up $0.53 on Wednesday, reaching $165.32. 52,816 shares of the company traded hands, compared to its average volume of 217,205. The stock's 50 day moving average price is $172.14 and its 200-day moving average price is $152.27. Ducommun has a 52-week low of $84.76 and a 52-week high of $210.39. The company has a market cap of $2.50 billion, a price-to-earnings ratio of -88.45 and a beta of 1.03.

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 the consensus estimate of $0.98 by $0.20. The company had revenue of $224.49 million during the quarter, compared to analyst estimates of $214.32 million. During the same quarter in the prior year, the company posted $0.88 EPS. The firm's quarterly revenue was up 11.0% compared to the same quarter last year. As a group, equities research analysts forecast that Ducommun will post 4.26 earnings per share for the current fiscal year.

Insider Buying and Selling at Ducommun

In other news, CEO Stephen Oswald sold 2,500 shares of the stock in a transaction dated Tuesday, August 18th. The stock was sold at an average price of $203.95, for a total transaction of $509,875.00. Following the transaction, the chief executive officer owned 383,864 shares of the company's stock, valued at approximately $78,289,062.80. This represents a 0.65% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 5.00% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Ducommun

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Sterling Capital Management LLC lifted its position in shares of Ducommun by 573.1% in the 3rd quarter. Sterling Capital Management LLC now owns 451 shares of the aerospace company's stock worth $77,000 after acquiring an additional 384 shares during the period. Robeco Institutional Asset Management B.V. acquired a new stake in shares of Ducommun during the 3rd quarter worth approximately $2,006,000. USA Financial Formulas bought a new stake in shares of Ducommun during the third quarter valued at approximately $50,000. Banque Pictet & Cie SA bought a new stake in shares of Ducommun during the third quarter valued at approximately $229,000. Finally, Fortitude Family Office LLC raised its stake in shares of Ducommun by 1,800.0% in the third quarter. Fortitude Family Office LLC now owns 171 shares of the aerospace company's stock valued at $29,000 after purchasing an additional 162 shares in the last quarter. 92.15% of the stock is currently owned by institutional investors and hedge funds.

About Ducommun

Ducommun Incorporated NYSE: DCO is a manufacturer of engineered components, assemblies and systems for the aerospace, defense and space industries. The company supplies products used in commercial aircraft, military platforms, launch vehicles, satellites and other mission-critical applications.

Its offerings include structural components and assemblies, precision-machined parts, composite structures, electronic and electromechanical systems, circuit-card assemblies, wire harnesses and other specialized products.

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