Ducommun (NYSE:DCO) Upgraded to "Strong-Buy" at Zacks Research

Key Points

• Zacks Research upgraded Ducommun to “Strong Buy” from “Hold.” Other analysts remain generally positive, giving the stock a consensus “Moderate Buy” rating and an average price target of $180.80.
• Ducommun reported quarterly EPS of $1.18, exceeding the $0.98 consensus estimate, while revenue rose 11% year over year to $224.49 million and topped expectations.
• The stock opened at $197.52, near its 52-week high of $210.39, with institutional investors owning 92.15% of shares; insiders have sold approximately $1.2 million in stock over the past 90 days.

Ducommun (NYSE:DCO - Get Free Report) was upgraded by Zacks Research from a "hold" rating to a "strong-buy" rating in a report released on Monday,Zacks.com reports.

A number of other research analysts have also weighed in on DCO. Royal Bank Of Canada lifted their price target on shares of Ducommun from $175.00 to $200.00 and gave the company a "sector performer" rating in a research note on Friday, August 7th. B. Riley Financial reissued a "buy" rating on shares of Ducommun in a research report on Friday. The Goldman Sachs Group reaffirmed a "buy" rating on shares of Ducommun in a research note on Monday. Weiss Ratings downgraded Ducommun from a "hold (c)" rating to a "hold (c-)" rating in a research note on Tuesday, August 4th. Finally, Truist Financial boosted their price target on Ducommun from $136.00 to $150.00 and gave the company a "buy" rating in a report on Tuesday, May 26th. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $180.80.

Ducommun Stock Performance

DCO stock opened at $197.52 on Monday. Ducommun has a 1-year low of $84.76 and a 1-year high of $210.39. The company has a current ratio of 3.36, a quick ratio of 2.38 and a debt-to-equity ratio of 0.39. The firm has a market cap of $2.98 billion, a PE ratio of -105.63 and a beta of 1.04. The business's 50-day moving average price is $173.37 and its two-hundred day moving average price is $146.35.

Ducommun (NYSE:DCO - Get Free Report) last announced its quarterly earnings results on Thursday, August 6th. The aerospace company reported $1.18 earnings per share (EPS) for the quarter, topping the consensus estimate 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 during the quarter, compared to the consensus estimate of $214.32 million. During the same period in the prior year, the company earned $0.88 earnings per share. The company's revenue for the quarter was up 11.0% compared to the same quarter last year. As a group, research analysts forecast that Ducommun will post 4.19 earnings per share for the current year.

Insider Transactions at Ducommun

In other Ducommun news, VP Rajiv A. Tata sold 1,612 shares of Ducommun stock in a transaction on Wednesday, May 20th. The shares were sold at an average price of $145.00, for a total value of $233,740.00. Following the sale, the vice president directly owned 33,171 shares in the company, valued at approximately $4,809,795. The trade was a 4.63% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, 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 sale, the vice president directly owned 62,034 shares in the company, valued at $9,575,568.24. This trade represents a 8.39% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 7,883 shares of company stock valued at $1,200,336 over the last 90 days. 5.00% of the stock is owned by corporate insiders.

Institutional Trading of Ducommun

Hedge funds and other institutional investors have recently modified their holdings of the stock. Allworth Financial LP acquired a new position in Ducommun during the second quarter valued at approximately $26,000. Optiver Holding B.V. acquired a new position in shares of Ducommun during the 1st quarter worth approximately $27,000. EverSource Wealth Advisors LLC increased its position in shares of Ducommun by 618.8% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 345 shares of the aerospace company's stock worth $29,000 after purchasing an additional 297 shares during the last quarter. State of Wyoming bought a new stake in shares of Ducommun during the 1st quarter worth approximately $35,000. Finally, Healthcare of Ontario Pension Plan Trust Fund bought a new stake in shares of Ducommun during the 1st quarter worth approximately $56,000. Institutional investors and hedge funds own 92.15% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source