Ducommun (NYSE:DCO) Share Price Breaks Below 200 Day Moving Average – What’s Next?

Ducommun Incorporated (NYSE:DCO)’s share price passed below its 200-day moving average during trading on Thursday. The stock has a 200-day moving average of $153.96 and traded as low as $128.47. Ducommun shares last traded at $131.87, with a volume of 543,424 shares changing hands.

Wall Street Analysts Forecast Growth

DCO has been the subject of several research analyst reports. Truist Financial raised their target price on shares of Ducommun from $150.00 to $209.00 and gave the stock a “buy” rating in a research report on Thursday, August 13th. Citigroup reiterated a “buy” rating on shares of Ducommun in a research report on Wednesday, August 12th. The Goldman Sachs Group reissued a “buy” rating on shares of Ducommun in a research note on Monday, August 10th. Zacks Research lowered shares of Ducommun from a “strong-buy” rating to a “hold” rating in a report on Monday, October 12th. Finally, Weiss Ratings lowered shares of Ducommun from a “hold (c)” rating to a “hold (c-)” rating in a report on Friday, September 18th. Five analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $198.17.

Ducommun Stock Performance

The company has a market capitalization of $1.99 billion, a PE ratio of -70.52 and a beta of 1.11. The company has a 50 day moving average of $167.65 and a two-hundred day moving average of $153.96. The company has a debt-to-equity ratio of 0.39, a current ratio of 3.36 and a quick ratio of 2.38.

Ducommun (NYSE:DCO) last posted its quarterly earnings data on Thursday, November 5th. The aerospace company reported $1.21 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.15 by $0.06. The business had revenue of $227.02 million during the quarter, compared to the consensus estimate of $221.93 million. Ducommun had a positive return on equity of 9.20% and a negative net margin of 3.10%. The firm’s quarterly revenue was up 6.8% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.99 earnings per share. As a group, equities research analysts predict that Ducommun Incorporated will post 4.26 earnings per share for the current year.

Insider Buying and Selling at Ducommun

In other news, CEO Stephen Oswald sold 2,500 shares of the company’s stock in a transaction dated Tuesday, August 18th. The shares were sold at an average price of $203.95, for a total value of $509,875.00. Following the sale, the chief executive officer directly owned 383,864 shares of the company’s stock, valued at $78,289,062.80. This represents a 0.65% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 5.00% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Ducommun

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

Ducommun Company Profile

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.