Ducommun (NYSE:DCO) Stock Price Crosses Above 200-Day Moving Average - What's Next?

Key Points

• Ducommun shares crossed above their 200-day moving average, reaching $170.54 and last trading near $168.27, though the price remained below the 50-day average of $174.81.
• Analyst sentiment is favorable, with five Buy ratings and three Holds producing a “Moderate Buy” consensus and an average price target of $201.50.
• The company beat quarterly expectations, reporting $1.18 in EPS and $224.49 million in revenue, while revenue increased 11% year over year; institutional investors own approximately 92.15% of the stock.

Ducommun Incorporated (NYSE:DCO - Get Free Report) shares crossed above its 200-day moving average during trading on Wednesday. The stock has a 200-day moving average of $165.12 and traded as high as $170.54. Ducommun shares last traded at $168.2730, with a volume of 135,315 shares traded.

Analyst Upgrades and Downgrades

DCO has been the topic of a number of research reports. Wall Street Zen raised shares of Ducommun from a "hold" rating to a "buy" rating in a research note on Saturday, August 8th. Royal Bank Of Canada lifted their target price on shares of Ducommun from $175.00 to $200.00 and gave the company a "sector performer" rating in a report on Friday, August 7th. Guggenheim assumed coverage on shares of Ducommun in a research report on Friday, October 9th. They set a "buy" rating and a $246.00 price target for the company. B. Riley Financial reiterated a "buy" rating on shares of Ducommun in a report on Friday, August 7th. Finally, The Goldman Sachs Group reissued a "buy" rating on shares of Ducommun in a research report on Monday, August 10th. Five investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $201.50.

Ducommun Stock Up 1.1%

The firm has a 50-day moving average of $174.81 and a 200 day moving average of $165.12. The stock has a market capitalization of $2.54 billion, a price-to-earnings ratio of -89.99 and a beta of 1.03. The company has a current ratio of 3.36, a quick ratio of 2.38 and a debt-to-equity ratio of 0.39.

Ducommun (NYSE:DCO - Get Free Report) last released its quarterly earnings results on Thursday, August 6th. The aerospace company reported $1.18 earnings per share for the quarter, topping analysts' consensus estimates 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 quarter in the prior year, the business earned $0.88 EPS. Ducommun's quarterly revenue was up 11.0% compared to the same quarter last year. On average, sell-side analysts anticipate that Ducommun Incorporated will post 4.26 earnings per share for the current year.

Insider Activity at Ducommun

In other news, CEO Stephen Oswald sold 5,766 shares of the business's stock in a transaction on Wednesday, August 12th. The shares were sold at an average price of $201.15, for a total transaction of $1,159,830.90. Following the transaction, the chief executive officer directly owned 385,875 shares of the company's stock, valued at approximately $77,618,756.25. The trade was a 1.47% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 5.00% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Robeco Institutional Asset Management B.V. acquired a new stake in shares of Ducommun during the third quarter valued at about $2,006,000. USA Financial Formulas purchased a new stake in shares of Ducommun during the third quarter worth about $50,000. Banque Pictet & Cie SA acquired a new position in shares of Ducommun in the third quarter worth about $229,000. Fortitude Family Office LLC lifted its stake in shares of Ducommun by 1,800.0% in the third quarter. Fortitude Family Office LLC now owns 171 shares of the aerospace company's stock worth $29,000 after acquiring an additional 162 shares in the last quarter. Finally, Farther Finance Advisors LLC lifted its stake in shares of Ducommun by 359.9% in the third quarter. Farther Finance Advisors LLC now owns 814 shares of the aerospace company's stock worth $140,000 after acquiring an additional 637 shares in the last quarter. 92.15% of the stock is currently owned by hedge funds and other institutional investors.

About Ducommun

Ducommun Incorporated NYSE: DCO is a manufacturer of engineered components, assemblies and systems for the aerospace, defense and space industries. The company supplies products used in commercial aircraft, military platforms, launch vehicles, satellites and other mission-critical applications.

Its offerings include structural components and assemblies, precision-machined parts, composite structures, electronic and electromechanical systems, circuit-card assemblies, wire harnesses and other specialized products.

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.