Cubist Systematic Strategies LLC Sells 23,388 Shares of Ducommun Incorporated $DCO

Key Points

• Cubist Systematic Strategies LLC has reduced its stake in Ducommun Incorporated by 70.1% during the first quarter, owning approximately 9,992 shares worth $580,000 after the sale.
• Ducommun's quarterly earnings exceeded expectations, reporting $0.88 EPS against the consensus estimate of $0.80, and revenue of $202.26 million, a 2.7% increase year-over-year.
• Analysts have raised their price targets for Ducommun, with estimates now ranging up to $101.00, reflecting a consensus rating of "Moderate Buy".

Cubist Systematic Strategies LLC trimmed its stake in shares of Ducommun Incorporated (NYSE:DCO - Free Report) by 70.1% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 9,992 shares of the aerospace company's stock after selling 23,388 shares during the period. Cubist Systematic Strategies LLC owned about 0.07% of Ducommun worth $580,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in DCO. Virtus Fund Advisers LLC acquired a new stake in shares of Ducommun during the fourth quarter worth $78,000. Central Pacific Bank Trust Division raised its holdings in shares of Ducommun by 200.0% during the first quarter. Central Pacific Bank Trust Division now owns 1,500 shares of the aerospace company's stock worth $87,000 after acquiring an additional 1,000 shares during the period. Virtus Advisers LLC acquired a new stake in shares of Ducommun during the first quarter worth $103,000. Point72 Asset Management L.P. acquired a new stake in shares of Ducommun during the fourth quarter worth $106,000. Finally, Ameriprise Financial Inc. acquired a new stake in shares of Ducommun during the fourth quarter worth $213,000. 92.15% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on DCO shares. Citigroup restated a "buy" rating and set a $101.00 price objective (up from $91.00) on shares of Ducommun in a report on Monday, July 14th. The Goldman Sachs Group lifted their price target on shares of Ducommun from $84.00 to $94.00 and gave the company a "buy" rating in a research note on Monday, June 23rd. Truist Financial lifted their price target on shares of Ducommun from $87.00 to $95.00 and gave the company a "buy" rating in a research note on Friday, July 11th. Zacks Research upgraded shares of Ducommun to a "hold" rating in a research note on Monday, August 11th. Finally, Royal Bank Of Canada lifted their price target on shares of Ducommun from $95.00 to $100.00 and gave the company an "outperform" rating in a research note on Friday, August 8th. Five investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $97.50.

Ducommun Stock Performance

NYSE:DCO traded down $0.12 during mid-day trading on Friday, hitting $93.10. The stock had a trading volume of 109,382 shares, compared to its average volume of 100,043. Ducommun Incorporated has a twelve month low of $51.76 and a twelve month high of $95.93. The stock has a market cap of $1.39 billion, a price-to-earnings ratio of 35.40 and a beta of 1.41. The company's 50 day simple moving average is $90.08 and its 200 day simple moving average is $73.80. 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 (NYSE:DCO - Get Free Report) last issued its earnings results 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. The business had revenue of $202.26 million during the quarter, compared to the consensus estimate of $199.29 million. Ducommun had a net margin of 5.03% and a return on equity of 7.61%. Ducommun's revenue was up 2.7% on a year-over-year basis. During the same period last year, the business posted $0.52 EPS. On average, equities research analysts forecast 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.