Ducommun (NYSE:DCO) Shares Up 6.4% Following Better-Than-Expected Earnings

Shares of Ducommun Incorporated (NYSE:DCO - Get Free Report) were up 6.4% during trading on Tuesday following a better than expected earnings announcement. The stock traded as high as $61.94 and last traded at $62.32. Approximately 15,129 shares traded hands during trading, a decline of 80% from the average daily volume of 76,310 shares. The stock had previously closed at $58.55.

The aerospace company reported $0.83 earnings per share for the quarter, beating analysts' consensus estimates of $0.63 by $0.20. Ducommun had a net margin of 3.82% and a return on equity of 7.40%. The business had revenue of $194.11 million during the quarter, compared to analyst estimates of $192.30 million. During the same period last year, the business earned $0.70 EPS. Ducommun's revenue was up 1.7% compared to the same quarter last year.

Wall Street Analyst Weigh In

DCO has been the subject of several research analyst reports. B. Riley reiterated a "buy" rating on shares of Ducommun in a research report on Wednesday. StockNews.com upgraded Ducommun from a "buy" rating to a "strong-buy" rating in a research note on Wednesday. Finally, Truist Financial set a $76.00 price objective on Ducommun in a research note on Wednesday. Four analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and a consensus price target of $76.00.

Hedge Funds Weigh In On Ducommun

Hedge funds have recently bought and sold shares of the company. Rafferty Asset Management LLC raised its position in shares of Ducommun by 4.9% during the 4th quarter. Rafferty Asset Management LLC now owns 3,481 shares of the aerospace company's stock worth $222,000 after purchasing an additional 164 shares during the last quarter. Arizona State Retirement System boosted its stake in shares of Ducommun by 4.8% during the first quarter. Arizona State Retirement System now owns 3,815 shares of the aerospace company's stock valued at $221,000 after acquiring an additional 176 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in Ducommun by 3.3% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 7,731 shares of the aerospace company's stock valued at $492,000 after purchasing an additional 247 shares during the last quarter. PNC Financial Services Group Inc. boosted its stake in shares of Ducommun by 12.8% during the 4th quarter. PNC Financial Services Group Inc. now owns 2,298 shares of the aerospace company's stock worth $146,000 after purchasing an additional 261 shares during the last quarter. Finally, Sterling Capital Management LLC grew its holdings in Ducommun by 804.2% in the 4th quarter. Sterling Capital Management LLC now owns 434 shares of the aerospace company's stock valued at $28,000 after buying an additional 386 shares during the period. 92.15% of the stock is owned by hedge funds and other institutional investors.

Ducommun Trading Down 2.3 %

The company has a current ratio of 3.21, a quick ratio of 2.16 and a debt-to-equity ratio of 0.37. The business's 50-day moving average is $58.01 and its two-hundred day moving average is $62.29. The stock has a market capitalization of $970.19 million, a PE ratio of 32.77 and a beta of 1.30.

About Ducommun

Ducommun Incorporated provides engineering and manufacturing services for products and applications used primarily in the aerospace and defense, industrial, medical, and other industries in the United States. The company operates through two segments, Electronic Systems and Structural Systems. The Electronic Systems segment provides cable assemblies and interconnect systems; printed circuit board assemblies; electronic, electromechanical, and mechanical components and assemblies, as well as lightning diversion systems; and radar enclosures, aircraft avionics racks, shipboard communications and control enclosures, printed circuit board assemblies, cable assemblies, wire harnesses, interconnect systems, lightning diversion strips, surge suppressors, conformal shields, and other assemblies.