Royal Bank Of Canada Issues Positive Forecast for Ducommun (NYSE:DCO) Stock Price

Key Points

• Royal Bank of Canada raised Ducommun’s price target from $175 to $200 while maintaining a “sector performer” rating, implying roughly 1.93% upside from the stock’s cited price.
• Ducommun reported quarterly EPS of $1.18, beating the $0.98 consensus estimate, while revenue rose 11% year over year to $224.49 million and exceeded forecasts.
• Analyst sentiment remains positive overall, with a “Moderate Buy” consensus and an average price target of $180.80; however, insiders sold 7,883 shares worth about $1.2 million in the last quarter.

Ducommun (NYSE:DCO - Get Free Report) had its price objective hoisted by equities researchers at Royal Bank Of Canada from $175.00 to $200.00 in a report released on Friday,Benzinga reports. The brokerage currently has a "sector performer" rating on the aerospace company's stock. Royal Bank Of Canada's price objective points to a potential upside of 1.93% from the company's current price.

DCO has been the subject of a number of other reports. Wall Street Zen lowered shares of Ducommun from a "buy" rating to a "hold" rating in a research report on Saturday, July 18th. Weiss Ratings downgraded Ducommun from a "hold (c)" rating to a "hold (c-)" rating in a research report on Tuesday. The Goldman Sachs Group upped their price objective on Ducommun from $134.00 to $151.00 and gave the stock a "buy" rating in a research note on Monday, April 20th. Citigroup increased their target price on Ducommun from $167.00 to $216.00 and gave the stock a "buy" rating in a research report on Wednesday, July 1st. Finally, B. Riley Financial reissued a "buy" rating on shares of Ducommun in a research note on Friday. Four equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $180.80.

Ducommun Stock Performance

Ducommun stock traded down $5.25 during trading on Friday, reaching $196.22. The company had a trading volume of 188,879 shares, compared to its average volume of 223,672. The company has a current ratio of 3.67, a quick ratio of 2.59 and a debt-to-equity ratio of 0.44. The firm's 50-day simple moving average is $170.60 and its 200 day simple moving average is $144.60. The firm has a market capitalization of $2.96 billion, a price-to-earnings ratio of -83.05 and a beta of 1.04. Ducommun has a 52 week low of $84.76 and a 52 week high of $210.39.

Ducommun (NYSE:DCO - Get Free Report) last posted its quarterly earnings data 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 8.41% and a negative net margin of 4.11%.The firm had revenue of $224.49 million for the quarter, compared to the consensus estimate of $214.32 million. During the same quarter last year, the company earned $0.88 earnings per share. The business's revenue for the quarter was up 11.0% compared to the same quarter last year. Sell-side analysts forecast that Ducommun will post 4.07 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, VP Rajiv A. Tata sold 1,612 shares of the company's stock in a transaction that occurred on Wednesday, May 20th. The stock was sold at an average price of $145.00, for a total transaction of $233,740.00. Following the sale, the vice president directly owned 33,171 shares of the company's stock, valued at $4,809,795. This represents a 4.63% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Laureen S. Gonzalez sold 589 shares of the stock in a transaction that occurred on Thursday, May 28th. The shares were sold at an average price of $151.99, for a total value of $89,522.11. Following the transaction, the vice president owned 11,172 shares of the company's stock, valued at $1,698,032.28. This represents a 5.01% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 7,883 shares of company stock valued at $1,200,336 in the last quarter. 5.00% of the stock is currently owned by insiders.

Institutional Trading of Ducommun

Large investors have recently made changes to their positions in the business. Wealth Enhancement Advisory Services LLC lifted its position in shares of Ducommun by 16.4% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 759 shares of the aerospace company's stock worth $72,000 after purchasing an additional 107 shares during the period. Parvin Asset Management LLC increased its holdings in Ducommun by 8.9% during the first quarter. Parvin Asset Management LLC now owns 1,340 shares of the aerospace company's stock valued at $163,000 after buying an additional 110 shares during the period. Envestnet Asset Management Inc. raised its stake in Ducommun by 3.8% in the third quarter. Envestnet Asset Management Inc. now owns 3,236 shares of the aerospace company's stock worth $311,000 after buying an additional 117 shares in the last quarter. Ameriprise Financial Inc. lifted its holdings in Ducommun by 2.3% during the third quarter. Ameriprise Financial Inc. now owns 6,836 shares of the aerospace company's stock worth $657,000 after buying an additional 153 shares during the period. Finally, The Manufacturers Life Insurance Company lifted its holdings in Ducommun by 3.2% during the second quarter. The Manufacturers Life Insurance Company now owns 5,014 shares of the aerospace company's stock worth $414,000 after buying an additional 155 shares during the period. 92.15% of the stock is currently owned by institutional investors.

Ducommun Company Profile

Ducommun Incorporated, through its Electronics and Structures segments, provides engineered products and integrated systems for the global aerospace, defense and space markets. The Electronics segment focuses on high-reliability electronic assemblies, cable and wire harnesses, connector systems and harsh environment electronics for flight-critical applications. In the Structures segment, Ducommun manufactures complex metallic and composite components such as flight control surfaces, skin panels, heat exchangers and other aerostructures for commercial and military platforms.

Founded in 1849 in California as a hardware and stagecoach parts supplier, Ducommun expanded into aerospace manufacturing during World War II and has since grown its capabilities through targeted acquisitions and organic investments.

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