B. Riley set a $40.00 target price on Ducommun Incorporated (NYSE:DCO) in a research report released on Monday morning. The firm currently has a buy rating on the aerospace company’s stock. B. Riley also issued estimates for Ducommun’s Q4 2017 earnings at $0.45 EPS and FY2017 earnings at $1.25 EPS.
“We do know the company entered Q3 with a strong $337MM commercial aerospace backlog and a total backlog of $610MM, up from the $600MM at the end of FY ’16, the increase largely due to a $20MM increase in commercial aerospace backlog. Moreover, DCO expects to deliver $426MM of its total backlog over the next 12 months, which implies that the company could potentially surpass our top-line targets for FY ’17 and ’18.”,” the firm’s analyst wrote.
DCO has been the subject of a number of other reports. Zacks Investment Research downgraded shares of Ducommun from a hold rating to a sell rating in a report on Tuesday, October 3rd. ValuEngine raised shares of Ducommun from a hold rating to a buy rating in a research report on Monday, September 11th. Canaccord Genuity reaffirmed a buy rating and set a $36.00 price target on shares of Ducommun in a research report on Tuesday, September 12th. BidaskClub cut shares of Ducommun from a sell rating to a strong sell rating in a research report on Tuesday, July 25th. Finally, Noble Financial reaffirmed a hold rating on shares of Ducommun in a research report on Friday, August 4th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and three have given a buy rating to the company’s stock. The stock currently has a consensus rating of Hold and a consensus price target of $36.75.
Ducommun (NYSE:DCO) last released its earnings results on Thursday, November 2nd. The aerospace company reported $0.41 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.38 by $0.03. Ducommun had a net margin of 2.50% and a return on equity of 7.49%. The firm had revenue of $138.70 million during the quarter, compared to the consensus estimate of $143.72 million. During the same period in the previous year, the firm earned $0.44 earnings per share. Ducommun’s revenue was up 4.6% compared to the same quarter last year.
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In other news, Director Anthony J. Reardon sold 4,198 shares of the business’s stock in a transaction on Friday, September 22nd. The shares were sold at an average price of $31.03, for a total transaction of $130,263.94. Following the transaction, the director now directly owns 92,555 shares of the company’s stock, valued at $2,871,981.65. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Anthony J. Reardon sold 11,908 shares of the business’s stock in a transaction on Thursday, September 21st. The stock was sold at an average price of $30.11, for a total transaction of $358,549.88. Following the transaction, the director now directly owns 103,546 shares in the company, valued at $3,117,770.06. The disclosure for this sale can be found here. Over the last three months, insiders have sold 42,701 shares of company stock worth $1,237,582. Corporate insiders own 8.20% of the company’s stock.
A number of institutional investors and hedge funds have recently bought and sold shares of DCO. Envestnet Asset Management Inc. raised its holdings in Ducommun by 15.5% in the first quarter. Envestnet Asset Management Inc. now owns 3,627 shares of the aerospace company’s stock valued at $104,000 after acquiring an additional 488 shares in the last quarter. Tower Research Capital LLC TRC raised its holdings in Ducommun by 169.8% in the second quarter. Tower Research Capital LLC TRC now owns 3,400 shares of the aerospace company’s stock valued at $107,000 after acquiring an additional 2,140 shares in the last quarter. American International Group Inc. raised its holdings in Ducommun by 7.1% in the first quarter. American International Group Inc. now owns 6,398 shares of the aerospace company’s stock valued at $184,000 after acquiring an additional 422 shares in the last quarter. Alliancebernstein L.P. acquired a new stake in Ducommun in the second quarter valued at $221,000. Finally, First Trust Advisors LP acquired a new stake in Ducommun in the third quarter valued at $261,000. 79.84% of the stock is currently owned by hedge funds and other institutional investors.
Ducommun Company Profile
Ducommun Incorporated is a global provider of engineering and manufacturing services for various products and failure applications used primarily in the aerospace, defense, industrial, natural resources, medical and other industries. The Company is a solution-based provider, offering a range of value-added products and services in its primary businesses of electronics, structures and integrated solutions.
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