Ducommun (NYSE:DCO) Upgraded by Zacks Research to Strong-Buy Rating

Zacks Research upgraded shares of Ducommun (NYSE:DCO) from a hold rating to a strong-buy rating in a research report sent to investors on Monday morning,Zacks.com reports.

A number of other research firms have also recently commented on DCO. Royal Bank Of Canada boosted their price objective on Ducommun from $175.00 to $200.00 and gave the company a “sector performer” rating in a research report on Friday, August 7th. Weiss Ratings lowered Ducommun from a “hold (c)” rating to a “hold (c-)” rating in a research report on Tuesday, August 4th. Truist Financial lifted their price target on shares of Ducommun from $136.00 to $150.00 and gave the company a “buy” rating in a research note on Tuesday, May 26th. B. Riley Financial reissued a “buy” rating on shares of Ducommun in a report on Friday. Finally, Citigroup increased their price objective on shares of Ducommun from $167.00 to $216.00 and gave the company a “buy” rating in a report on Wednesday, July 1st. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $180.80.

Ducommun Price Performance

NYSE:DCO opened at $197.52 on Monday. The company has a quick ratio of 2.38, a current ratio of 3.36 and a debt-to-equity ratio of 0.39. Ducommun has a 52 week low of $84.76 and a 52 week high of $210.39. The stock’s 50-day moving average price is $173.37 and its 200-day moving average price is $146.35. The stock has a market capitalization of $2.98 billion, a PE ratio of -105.63 and a beta of 1.04.

Ducommun (NYSE:DCO) 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. The company had revenue of $224.49 million during the quarter, compared to analysts’ expectations of $214.32 million. Ducommun had a positive return on equity of 9.20% and a negative net margin of 3.10%.Ducommun’s quarterly revenue was up 11.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.88 EPS. As a group, equities analysts expect that Ducommun will post 4.19 EPS for the current fiscal year.

Insider Activity

In related news, VP Rajiv A. Tata sold 1,612 shares of the business’s stock in a transaction dated Wednesday, May 20th. The shares were sold at an average price of $145.00, for a total transaction of $233,740.00. Following the transaction, 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 legal filing with the SEC, 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 dated Thursday, May 14th. The shares were sold at an average price of $154.36, for a total transaction of $877,073.52. Following the sale, the vice president directly owned 62,034 shares of the company’s stock, valued at approximately $9,575,568.24. This represents a 8.39% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold 7,883 shares of company stock worth $1,200,336 over the last three months. 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 stock. Allworth Financial LP acquired a new stake in shares of Ducommun in the second quarter valued at approximately $26,000. Optiver Holding B.V. purchased a new position in Ducommun during the first quarter worth approximately $27,000. EverSource Wealth Advisors LLC boosted its stake in Ducommun by 618.8% during the second quarter. EverSource Wealth Advisors LLC now owns 345 shares of the aerospace company’s stock worth $29,000 after buying an additional 297 shares during the last quarter. State of Wyoming acquired a new position in Ducommun during the first quarter worth $35,000. Finally, Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in Ducommun in the 1st quarter valued at $56,000. 92.15% of the stock is currently owned by institutional investors and hedge funds.

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.