Ducommun (NYSE:DCO) Shares Cross Above 200-Day Moving Average - Here's What Happened

Key Points

• Ducommun shares rose above their 200-day moving average, reaching $176.39 before closing at $173.15, compared with the $161.22 long-term average.
• Analyst sentiment is positive, with the stock carrying a “Moderate Buy” consensus rating and an average price target of $192.60; several firms recently raised their targets.
• Ducommun exceeded quarterly expectations, reporting $1.18 in EPS versus $0.98 expected and revenue of $224.49 million, up 11% year over year.

Ducommun Incorporated (NYSE:DCO - Get Free Report)'s share price crossed above its two hundred day moving average during trading on Monday. The stock has a two hundred day moving average of $161.22 and traded as high as $176.39. Ducommun shares last traded at $173.15, with a volume of 179,084 shares trading hands.

Wall Street Analysts Forecast Growth

DCO has been the subject of several recent research reports. Zacks Research raised Ducommun from a "hold" rating to a "strong-buy" rating in a research report on Monday, August 10th. Wall Street Zen upgraded Ducommun from a "hold" rating to a "buy" rating in a research note on Saturday, August 8th. The Goldman Sachs Group reiterated a "buy" rating on shares of Ducommun in a research note on Monday, August 10th. Royal Bank Of Canada upped their target price on Ducommun from $175.00 to $200.00 and gave the company a "sector performer" rating in a research report on Friday, August 7th. Finally, Truist Financial increased their price target on Ducommun from $150.00 to $209.00 and gave the stock a "buy" rating in a research report on Thursday, August 13th. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, Ducommun currently has an average rating of "Moderate Buy" and an average target price of $192.60.

Ducommun Price Performance

The company has a debt-to-equity ratio of 0.39, a quick ratio of 2.38 and a current ratio of 3.36. The stock's 50 day moving average is $179.55 and its two-hundred day moving average is $161.22. The stock has a market capitalization of $2.61 billion, a PE ratio of -92.59 and a beta of 1.03.

Ducommun (NYSE:DCO - Get Free Report) last issued its quarterly earnings results on Thursday, August 6th. The aerospace company reported $1.18 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 firm had revenue of $224.49 million during the quarter, compared to analysts' expectations of $214.32 million. During the same period in the previous year, the business earned $0.88 earnings per share. The firm's revenue for the quarter was up 11.0% on a year-over-year basis. On average, equities analysts anticipate that Ducommun Incorporated will post 4.26 EPS for the current fiscal year.

Insider Activity at Ducommun

In related news, CEO Stephen Oswald sold 2,500 shares of the stock in a transaction that occurred on Tuesday, August 18th. The stock was sold at an average price of $203.95, for a total value of $509,875.00. Following the completion of the sale, the chief executive officer owned 383,864 shares of the company's stock, valued at approximately $78,289,062.80. This trade represents a 0.65% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 5.00% of the company's stock.

Hedge Funds Weigh In On Ducommun

Institutional investors have recently bought and sold shares of the company. BlackRock Inc. purchased a new stake in shares of Ducommun during the 2nd quarter valued at approximately $359,395,000. Paradigm Capital Management Inc. NY acquired a new stake in Ducommun in the 2nd quarter valued at approximately $142,704,000. Van ECK Associates Corp grew its stake in shares of Ducommun by 68.4% in the second quarter. Van ECK Associates Corp now owns 427,603 shares of the aerospace company's stock valued at $79,196,000 after buying an additional 173,616 shares in the last quarter. Moore Capital Management LP purchased a new stake in Ducommun during the second quarter worth about $44,236,000. Finally, Deutsche Bank AG acquired a new stake in Ducommun during the 2nd quarter worth approximately $41,095,000. 92.15% of the stock is owned by hedge funds and other institutional investors.

About Ducommun

Ducommun Incorporated NYSE: DCO is a manufacturing company that designs, engineers and produces complex components and assemblies for the aerospace and defense industries. Its products include structural components, electronic and electromechanical systems, wiring and interconnect assemblies, and other specialized parts used in aircraft, spacecraft, missiles and military systems.

The company serves commercial aerospace, defense, space, medical and select industrial markets. Its capabilities include precision machining, forming, composite manufacturing, electronics manufacturing, circuit-card assembly, testing and systems integration.

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