Ducommun Incorporated $DCO Shares Acquired by Bragg Financial Advisors Inc

Key Points

• Bragg Financial Advisors Inc increased its stake in Ducommun Incorporated by 17.7%, now owning approximately 0.80% of the company, valued at about $6.93 million.
• Wall Street analysts are optimistic about Ducommun, with multiple firms upgrading their ratings and price targets, including Goldman Sachs raising the target from $84.00 to $94.00.
• Ducommun reported an EPS of $0.88 for the last quarter, exceeding analysts' expectations, with a revenue of $202.26 million, reflecting a year-over-year increase of 2.7%.

Bragg Financial Advisors Inc boosted its holdings in Ducommun Incorporated (NYSE:DCO - Free Report) by 17.7% during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 119,392 shares of the aerospace company's stock after acquiring an additional 17,972 shares during the quarter. Bragg Financial Advisors Inc owned 0.80% of Ducommun worth $6,928,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Raymond James Financial Inc. purchased a new position in Ducommun in the 4th quarter valued at approximately $6,737,000. Oberweis Asset Management Inc. bought a new stake in shares of Ducommun during the 4th quarter worth $6,092,000. Nuveen LLC bought a new stake in shares of Ducommun during the 1st quarter worth $5,097,000. LPL Financial LLC bought a new stake in Ducommun in the first quarter worth $5,052,000. Finally, Wellington Management Group LLP increased its position in shares of Ducommun by 41.9% in the fourth quarter. Wellington Management Group LLP now owns 193,741 shares of the aerospace company's stock valued at $12,334,000 after acquiring an additional 57,172 shares during the period. Institutional investors own 92.15% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on DCO. Truist Financial boosted their price target on shares of Ducommun from $87.00 to $95.00 and gave the company a "buy" rating in a research report on Friday, July 11th. Zacks Research upgraded shares of Ducommun to a "hold" rating in a report on Monday, August 11th. Citigroup reiterated a "buy" rating and set a $101.00 price target (up previously from $91.00) on shares of Ducommun in a report on Monday, July 14th. Royal Bank Of Canada increased their price objective on shares of Ducommun from $95.00 to $100.00 and gave the company an "outperform" rating in a research report on Friday, August 8th. Finally, B. Riley reiterated a "buy" rating on shares of Ducommun in a research report on Wednesday, May 7th. Five analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $97.50.

Ducommun Trading Up 3.9%

Ducommun stock traded up $3.50 during trading hours on Friday, hitting $92.84. The company had a trading volume of 133,027 shares, compared to its average volume of 122,523. The firm has a market cap of $1.39 billion, a P/E ratio of 35.30 and a beta of 1.38. The company has a debt-to-equity ratio of 0.31, a quick ratio of 2.17 and a current ratio of 3.24. Ducommun Incorporated has a 1 year low of $51.76 and a 1 year high of $94.00. The company has a 50-day moving average price of $87.22 and a two-hundred day moving average price of $70.88.

Ducommun (NYSE:DCO - Get Free Report) last released its quarterly earnings data on Thursday, August 7th. The aerospace company reported $0.88 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.80 by $0.08. Ducommun had a net margin of 5.03% and a return on equity of 7.61%. The company had revenue of $202.26 million during the quarter, compared to analysts' expectations of $199.29 million. During the same period in the previous year, the company earned $0.52 EPS. The firm's quarterly revenue was up 2.7% on a year-over-year basis. On average, sell-side analysts anticipate that Ducommun Incorporated will post 3.21 earnings per share for the current year.

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.