Cubist Systematic Strategies LLC Cuts Stake in 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 reduced its position in shares of Ducommun Incorporated (NYSE:DCO - Free Report) by 70.1% in the first quarter, according to the company in its most recent disclosure with the Securities and 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 0.07% of Ducommun worth $580,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the business. Vident Advisory LLC bought a new position in Ducommun during the 1st quarter valued at approximately $2,769,000. Gamco Investors INC. ET AL grew its position in shares of Ducommun by 1.1% in the 1st quarter. Gamco Investors INC. ET AL now owns 588,278 shares of the aerospace company's stock worth $34,138,000 after buying an additional 6,572 shares during the last quarter. Gabelli Funds LLC increased its stake in shares of Ducommun by 18.8% during the first quarter. Gabelli Funds LLC now owns 102,374 shares of the aerospace company's stock valued at $5,941,000 after buying an additional 16,235 shares during the period. Keeley Teton Advisors LLC raised its holdings in shares of Ducommun by 11.3% during the first quarter. Keeley Teton Advisors LLC now owns 44,247 shares of the aerospace company's stock valued at $2,568,000 after acquiring an additional 4,501 shares in the last quarter. Finally, Virtus Advisers LLC bought a new position in shares of Ducommun during the first quarter valued at approximately $103,000. Hedge funds and other institutional investors own 92.15% of the company's stock.

Analyst Ratings Changes

A number of research analysts have issued reports on the stock. Royal Bank Of Canada boosted 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. Citigroup reaffirmed a "buy" rating and set a $101.00 target price (up previously from $91.00) on shares of Ducommun in a research note on Monday, July 14th. Truist Financial increased their price target on shares of Ducommun from $87.00 to $95.00 and gave the stock a "buy" rating in a research note on Friday, July 11th. The Goldman Sachs Group raised their price objective on shares of Ducommun from $84.00 to $94.00 and gave the stock a "buy" rating in a report on Monday, June 23rd. Finally, Zacks Research raised Ducommun to a "hold" rating in a research report on Monday, August 11th. Five investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat, Ducommun currently has an average rating of "Moderate Buy" and an average target price of $97.50.

Ducommun Stock Up 1.3%

NYSE DCO traded up $1.22 during trading hours on Tuesday, reaching $93.26. 93,278 shares of the company's stock traded hands, compared to its average volume of 100,209. The firm has a market cap of $1.39 billion, a PE ratio of 35.46 and a beta of 1.41. The company has a debt-to-equity ratio of 0.31, a current ratio of 3.24 and a quick ratio of 2.17. Ducommun Incorporated has a 52-week low of $51.76 and a 52-week high of $95.93. The firm has a 50-day simple moving average of $90.41 and a 200 day simple moving average of $74.28.

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

Ducommun Company Profile

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.