Ducommun (NYSE:DCO) Stock Crosses Above 200-Day Moving Average – Here’s Why

Ducommun Incorporated (NYSE:DCO) shares crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $136.51 and traded as high as $172.30. Ducommun shares last traded at $168.5750, with a volume of 307,954 shares.

Analyst Ratings Changes

Several analysts have recently commented on the stock. The Goldman Sachs Group increased their price target on shares of Ducommun from $134.00 to $151.00 and gave the company a “buy” rating in a research report on Monday, April 20th. Truist Financial lifted their price objective on Ducommun from $136.00 to $150.00 and gave the stock a “buy” rating in a research report on Tuesday, May 26th. B. Riley Financial upped their target price on Ducommun from $155.00 to $187.00 and gave the company a “buy” rating in a research note on Wednesday, May 13th. Weiss Ratings cut Ducommun from a “hold (c)” rating to a “hold (c-)” rating in a report on Wednesday, July 8th. Finally, Royal Bank Of Canada downgraded Ducommun from an “outperform” rating to a “sector perform” rating and raised their price target for the stock from $155.00 to $175.00 in a research report on Thursday, July 9th. Four investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $175.80.

Ducommun Stock Performance

The firm has a market cap of $2.55 billion, a PE ratio of -71.62 and a beta of 1.03. The stock has a 50-day moving average price of $160.83 and a 200 day moving average price of $136.73. The company has a debt-to-equity ratio of 0.44, a current ratio of 3.67 and a quick ratio of 2.59.

Ducommun (NYSE:DCO) last released its earnings results on Tuesday, May 12th. The aerospace company reported $0.75 earnings per share for the quarter, topping the consensus estimate of $0.68 by $0.07. Ducommun had a positive return on equity of 8.41% and a negative net margin of 4.11%.The firm had revenue of $209.02 million for the quarter, compared to the consensus estimate of $199.61 million. During the same period in the prior year, the business posted $0.83 earnings per share. The firm’s revenue for the quarter was up 7.7% compared to the same quarter last year. Research analysts forecast that Ducommun Incorporated will post 4.07 earnings per share for the current year.

Insider Transactions at Ducommun

In related news, VP Rajiv A. Tata sold 1,612 shares of the business’s stock in a transaction that occurred on Wednesday, May 20th. The shares were sold at an average price of $145.00, for a total value of $233,740.00. Following the completion of the sale, the vice president directly owned 33,171 shares in the company, valued at approximately $4,809,795. The trade was a 4.63% 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 the SEC website. Also, VP Jerry L. Redondo sold 5,682 shares of the company’s stock in a transaction that occurred on Thursday, May 14th. The stock was sold at an average price of $154.36, for a total transaction of $877,073.52. Following the transaction, the vice president directly owned 62,034 shares of the company’s stock, valued at $9,575,568.24. This trade represents a 8.39% decrease in their position. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 7,883 shares of company stock worth $1,200,336 in the last three months. Company insiders own 5.00% of the company’s stock.

Institutional Trading of Ducommun

Institutional investors have recently made changes to their positions in the stock. Optiver Holding B.V. purchased a new position in shares of Ducommun in the 1st quarter worth $27,000. EverSource Wealth Advisors LLC grew its position in Ducommun by 618.8% during the second quarter. EverSource Wealth Advisors LLC now owns 345 shares of the aerospace company’s stock valued at $29,000 after acquiring an additional 297 shares during the period. State of Wyoming purchased a new stake in Ducommun during the first quarter valued at about $35,000. Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in Ducommun during the first quarter worth about $56,000. Finally, KBC Group NV acquired a new stake in Ducommun during the first quarter worth about $71,000. 92.15% of the stock is owned by hedge funds and other institutional investors.

About Ducommun

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.