Ducommun (NYSE:DCO) Rating Increased to Strong-Buy at Truist Financial

Key Points

• Truist upgraded Ducommun to a "strong-buy", joining other bullish moves (RBC and Goldman raised price targets) while the consensus on MarketBeat is a "Moderate Buy" with a $144.50 target.
• Ducommun reported $1.05 EPS for the quarter, beating estimates by $0.14 and showing 9.4% revenue growth to $215.8M, though revenue slightly missed forecasts and the company still reported a negative net margin and a negative P/E.
• Insider selling was reported: a director sold 10,440 shares (~34% reduction in his position), insiders own about 5% of the stock while institutional investors hold roughly 92%.

Ducommun (NYSE:DCO - Get Free Report) was upgraded by Truist Financial to a "strong-buy" rating in a research report issued on Friday,Zacks.com reports.

A number of other equities analysts have also commented on the stock. Royal Bank Of Canada raised their price target on shares of Ducommun from $142.00 to $150.00 and gave the stock an "outperform" rating in a research report on Friday, March 13th. B. Riley Financial reaffirmed a "buy" rating on shares of Ducommun in a research report on Wednesday, January 28th. Citigroup lowered their price objective on Ducommun from $143.00 to $141.00 and set a "buy" rating on the stock in a research note on Thursday, April 2nd. The Goldman Sachs Group raised their price objective on Ducommun from $134.00 to $151.00 and gave the stock a "buy" rating in a research note on Monday, April 20th. Finally, Wall Street Zen upgraded Ducommun from a "hold" rating to a "buy" rating in a research note on Saturday, April 18th. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and two have issued a Hold rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $144.50.

Ducommun Price Performance

Shares of NYSE DCO opened at $141.35 on Friday. Ducommun has a 1-year low of $58.10 and a 1-year high of $145.90. The firm has a market cap of $2.12 billion, a P/E ratio of -61.19 and a beta of 1.06. The business's 50 day moving average is $131.31 and its 200-day moving average is $111.46. The company has a current ratio of 3.50, a quick ratio of 2.47 and a debt-to-equity ratio of 0.45.

Ducommun (NYSE:DCO - Get Free Report) last released its quarterly earnings results on Thursday, February 26th. The aerospace company reported $1.05 EPS for the quarter, topping analysts' consensus estimates of $0.91 by $0.14. Ducommun had a negative net margin of 4.11% and a positive return on equity of 8.47%. The business had revenue of $215.80 million for the quarter, compared to analyst estimates of $217.42 million. During the same period last year, the firm earned $0.75 earnings per share. Ducommun's revenue for the quarter was up 9.4% compared to the same quarter last year. Equities research analysts predict that Ducommun will post 4.1 earnings per share for the current year.

Insider Buying and Selling

In other Ducommun news, Director Richard A. Baldridge sold 10,440 shares of the firm's stock in a transaction dated Tuesday, March 10th. The shares were sold at an average price of $130.83, for a total value of $1,365,865.20. Following the transaction, the director directly owned 20,100 shares of the company's stock, valued at $2,629,683. This trade represents a 34.18% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 5.00% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Ducommun

Hedge funds have recently bought and sold shares of the company. Principal Financial Group Inc. bought a new position in shares of Ducommun in the 3rd quarter valued at $1,163,000. SG Americas Securities LLC bought a new position in shares of Ducommun in the 3rd quarter valued at $849,000. Hennion & Walsh Asset Management Inc. increased its stake in shares of Ducommun by 39.7% in the 3rd quarter. Hennion & Walsh Asset Management Inc. now owns 39,132 shares of the aerospace company's stock valued at $3,762,000 after purchasing an additional 11,130 shares during the last quarter. Aberdeen Group plc increased its stake in shares of Ducommun by 7.2% in the 4th quarter. Aberdeen Group plc now owns 218,433 shares of the aerospace company's stock valued at $20,780,000 after purchasing an additional 14,721 shares during the last quarter. Finally, Thornburg Investment Management Inc. bought a new position in shares of Ducommun in the 3rd quarter valued at $12,953,000. 92.15% of the stock is owned by institutional investors.

About Ducommun

Ducommun Incorporated, through its Electronics and Structures segments, provides engineered products and integrated systems for the global aerospace, defense and space markets. The Electronics segment focuses on high-reliability electronic assemblies, cable and wire harnesses, connector systems and harsh environment electronics for flight-critical applications. In the Structures segment, Ducommun manufactures complex metallic and composite components such as flight control surfaces, skin panels, heat exchangers and other aerostructures for commercial and military platforms.

Founded in 1849 in California as a hardware and stagecoach parts supplier, Ducommun expanded into aerospace manufacturing during World War II and has since grown its capabilities through targeted acquisitions and organic investments.

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