Zacks Investment Research upgraded shares of Ducommun Incorporated (NYSE:DCO) from a sell rating to a hold rating in a research report released on Tuesday.
According to Zacks, “Ducommun Incorporated manufactures components and assemblies principally for domestic and foreign commercial and military aircraft and space programs. Ducommun is a subcontractor to Lockheed Martin on the Space Shuttle external tank and a supplier of components for the Space Shuttle, as well as for the International Space Station. “
DCO has been the topic of several other reports. FBR & Co raised their target price on Ducommun from $30.00 to $35.00 and gave the stock an outperform rating in a report on Tuesday, March 7th. Canaccord Genuity reaffirmed a buy rating and set a $35.00 target price on shares of Ducommun in a report on Tuesday, April 11th. Noble Financial reaffirmed a hold rating on shares of Ducommun in a report on Saturday, May 6th. Finally, B. Riley reaffirmed a neutral rating and set a $32.50 target price on shares of Ducommun in a report on Sunday. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Ducommun currently has a consensus rating of Buy and an average price target of $35.25.
Ducommun (NYSE:DCO) opened at 32.45 on Tuesday. The company has a market capitalization of $365.68 million, a P/E ratio of 26.75 and a beta of 1.09. Ducommun has a 52 week low of $15.63 and a 52 week high of $35.58. The company’s 50 day moving average price is $29.49 and its 200-day moving average price is $27.94.
Ducommun (NYSE:DCO) last posted its earnings results on Monday, March 6th. The aerospace company reported $0.45 EPS for the quarter, hitting the consensus estimate of $0.45. The firm had revenue of $142.49 million for the quarter, compared to analyst estimates of $140.12 million. Ducommun had a positive return on equity of 7.00% and a negative net margin of 7.29%. Ducommun’s revenue for the quarter was down 9.0% compared to the same quarter last year. During the same period last year, the company earned ($5.74) earnings per share. Equities research analysts expect that Ducommun will post $1.38 earnings per share for the current year.
In other Ducommun news, VP James S. Heiser sold 1,858 shares of the firm’s stock in a transaction that occurred on Friday, March 17th. The stock was sold at an average price of $29.10, for a total value of $54,067.80. Following the sale, the vice president now directly owns 12,892 shares of the company’s stock, valued at $375,157.20. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Stephen G. Oswald acquired 10,700 shares of the company’s stock in a transaction on Wednesday, March 22nd. The stock was acquired at an average cost of $27.13 per share, for a total transaction of $290,291.00. Following the completion of the acquisition, the chief executive officer now owns 24,700 shares of the company’s stock, valued at approximately $670,111. The disclosure for this purchase can be found here. Over the last three months, insiders acquired 28,400 shares of company stock worth $792,274 and sold 8,431 shares worth $241,656. 9.10% of the stock is currently owned by company insiders.
A number of hedge funds have recently modified their holdings of DCO. Tocqueville Asset Management L.P. raised its stake in shares of Ducommun by 160.7% in the third quarter. Tocqueville Asset Management L.P. now owns 216,900 shares of the aerospace company’s stock valued at $4,954,000 after buying an additional 133,700 shares during the last quarter. Russell Investments Group Ltd. acquired a new stake in shares of Ducommun during the fourth quarter valued at approximately $2,652,000. James Investment Research Inc. acquired a new stake in shares of Ducommun during the first quarter valued at approximately $2,772,000. AQR Capital Management LLC acquired a new stake in shares of Ducommun during the fourth quarter valued at approximately $1,809,000. Finally, Renaissance Technologies LLC raised its stake in shares of Ducommun by 13.8% in the fourth quarter. Renaissance Technologies LLC now owns 558,400 shares of the aerospace company’s stock valued at $14,273,000 after buying an additional 67,800 shares during the last quarter. 79.96% of the stock is currently owned by institutional investors.
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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