Ducommun (NYSE:DCO) Upgraded at Wall Street Zen

Key Points

• Wall Street Zen upgraded Ducommun from “hold” to “buy,” adding to a generally positive analyst outlook on the aerospace supplier. Overall, the stock now has a consensus rating of Moderate Buy with a $154 average price target.
• Ducommun beat quarterly expectations, posting EPS of $0.75 versus the $0.68 estimate and revenue of $209.02 million versus $199.61 million expected. Revenue rose 7.7% year over year.
• Shares fell 5.0% in Friday trading despite the upbeat analyst and earnings news, opening at $144.07. The stock has traded between $66.24 and $156.32 over the past 12 months.

Ducommun (NYSE:DCO - Get Free Report) was upgraded by stock analysts at Wall Street Zen from a "hold" rating to a "buy" rating in a report issued on Sunday.

A number of other brokerages have also recently issued reports on DCO. The Goldman Sachs Group lifted their price objective on Ducommun from $134.00 to $151.00 and gave the company a "buy" rating in a report on Monday, April 20th. Truist Financial raised Ducommun to a "strong-buy" rating in a report on Friday, May 1st. Citigroup cut their price objective on Ducommun from $143.00 to $141.00 and set a "buy" rating for the company in a report on Thursday, April 2nd. B. Riley Financial lifted their price objective on Ducommun from $155.00 to $187.00 and gave the company a "buy" rating in a report on Wednesday. Finally, Royal Bank Of Canada lifted their price objective on Ducommun from $150.00 to $155.00 and gave the company an "outperform" rating in a report on Wednesday. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $154.00.

Ducommun Trading Down 5.0%

Shares of DCO stock opened at $144.07 on Friday. The company has a market cap of $2.17 billion, a PE ratio of -61.05 and a beta of 1.06. Ducommun has a 12 month low of $66.24 and a 12 month high of $156.32. The business's 50 day moving average is $134.13 and its two-hundred day moving average is $114.62. The company has a quick ratio of 2.47, a current ratio of 3.67 and a debt-to-equity ratio of 0.44.

Ducommun (NYSE:DCO - Get Free Report) last issued its quarterly earnings data on Tuesday, May 12th. The aerospace company reported $0.75 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.68 by $0.07. The company had revenue of $209.02 million during the quarter, compared to analysts' expectations of $199.61 million. Ducommun had a positive return on equity of 8.41% and a negative net margin of 4.11%.The business's revenue was up 7.7% on a year-over-year basis. During the same period last year, the business earned $0.83 earnings per share. Equities analysts predict that Ducommun will post 4.16 EPS for the current year.

Insider Activity

In other Ducommun news, VP Jerry L. Redondo sold 5,682 shares of the business's stock in a transaction dated Thursday, May 14th. The stock was sold at an average price of $154.36, for a total transaction of $877,073.52. Following the completion of the sale, the vice president directly owned 62,034 shares of the company's stock, valued at approximately $9,575,568.24. The trade was a 8.39% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Richard A. Baldridge sold 10,440 shares of the business's stock in a transaction dated Tuesday, March 10th. The stock was sold at an average price of $130.83, for a total value of $1,365,865.20. Following the sale, the director directly owned 20,100 shares of the company's stock, valued at $2,629,683. This represents a 34.18% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders own 5.00% of the company's stock.

Institutional Trading of Ducommun

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Wealth Enhancement Advisory Services LLC raised its holdings in Ducommun by 16.4% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 759 shares of the aerospace company's stock worth $72,000 after purchasing an additional 107 shares during the last quarter. Envestnet Asset Management Inc. raised its holdings in Ducommun by 3.8% during the 3rd quarter. Envestnet Asset Management Inc. now owns 3,236 shares of the aerospace company's stock worth $311,000 after purchasing an additional 117 shares during the last quarter. Ameriprise Financial Inc. raised its holdings in Ducommun by 2.3% during the 3rd quarter. Ameriprise Financial Inc. now owns 6,836 shares of the aerospace company's stock worth $657,000 after purchasing an additional 153 shares during the last quarter. The Manufacturers Life Insurance Company raised its holdings in Ducommun by 3.2% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 5,014 shares of the aerospace company's stock worth $414,000 after purchasing an additional 155 shares during the last quarter. Finally, ProShare Advisors LLC raised its holdings in Ducommun by 6.9% during the 4th quarter. ProShare Advisors LLC now owns 2,523 shares of the aerospace company's stock worth $240,000 after purchasing an additional 163 shares during the last quarter. 92.15% of the stock is owned by institutional investors.

Ducommun Company Profile

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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