Canaccord Genuity Increases Ducommun Incorporated (NYSE:DCO) Price Target to $36.00
Ducommun Incorporated (NYSE:DCO) had its target price boosted by research analysts at Canaccord Genuity from $35.00 to $36.00 in a research note issued on Friday. The brokerage presently has a “buy” rating on the aerospace company’s stock. Canaccord Genuity’s target price points to a potential upside of 23.63% from the stock’s current price.
Several other equities research analysts have also issued reports on the company. B. Riley reaffirmed a “buy” rating and set a $40.00 price target on shares of Ducommun in a research note on Tuesday, August 1st. BidaskClub lowered Ducommun from a “sell” rating to a “strong sell” rating in a research note on Tuesday, July 25th. Noble Financial reaffirmed a “hold” rating on shares of Ducommun in a research note on Saturday, May 20th. Finally, Zacks Investment Research raised Ducommun from a “sell” rating to a “hold” rating in a research note on Tuesday, May 9th. One analyst has rated the stock with a sell rating, two have given a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company’s stock. Ducommun currently has a consensus rating of “Buy” and a consensus price target of $36.25.
Shares of Ducommun (NYSE:DCO) traded down 2.02% during trading on Friday, reaching $29.12. The company’s stock had a trading volume of 114,717 shares. The stock’s 50-day moving average is $31.55 and its 200-day moving average is $30.58. The stock has a market cap of $329.61 million, a P/E ratio of 24.27 and a beta of 0.90. Ducommun has a 12-month low of $18.70 and a 12-month high of $35.58.
Ducommun (NYSE:DCO) last posted its quarterly earnings data on Thursday, August 3rd. The aerospace company reported $0.33 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.30 by $0.03. The company had revenue of $140.90 million during the quarter, compared to analyst estimates of $138.39 million. Ducommun had a return on equity of 7.62% and a net margin of 2.54%. The firm’s quarterly revenue was up 5.6% on a year-over-year basis. During the same quarter last year, the company earned $0.34 earnings per share. Equities research analysts anticipate that Ducommun will post $1.33 earnings per share for the current fiscal year.
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In other Ducommun news, Director Robert C. Ducommun sold 900 shares of Ducommun stock in a transaction dated Tuesday, June 20th. The stock was sold at an average price of $33.01, for a total transaction of $29,709.00. Following the completion of the sale, the director now owns 421,600 shares of the company’s stock, valued at $13,917,016. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, VP Christopher D. Wampler sold 1,500 shares of Ducommun stock in a transaction dated Thursday, June 1st. The stock was sold at an average price of $32.01, for a total value of $48,015.00. Following the sale, the vice president now directly owns 9,514 shares of the company’s stock, valued at approximately $304,543.14. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 9,000 shares of company stock valued at $289,784. Corporate insiders own 8.20% of the company’s stock.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its position in Ducommun by 7.0% in the first quarter. Vanguard Group Inc. now owns 441,569 shares of the aerospace company’s stock valued at $12,712,000 after buying an additional 29,007 shares in the last quarter. LSV Asset Management increased its position in Ducommun by 7.9% in the first quarter. LSV Asset Management now owns 292,312 shares of the aerospace company’s stock valued at $8,415,000 after buying an additional 21,425 shares in the last quarter. State Street Corp increased its position in Ducommun by 2.5% in the fourth quarter. State Street Corp now owns 182,289 shares of the aerospace company’s stock valued at $4,659,000 after buying an additional 4,489 shares in the last quarter. AQR Capital Management LLC increased its position in Ducommun by 122.9% in the first quarter. AQR Capital Management LLC now owns 157,807 shares of the aerospace company’s stock valued at $4,543,000 after buying an additional 87,019 shares in the last quarter. Finally, Royce & Associates LP increased its position in Ducommun by 5.7% in the first quarter. Royce & Associates LP now owns 141,813 shares of the aerospace company’s stock valued at $4,083,000 after buying an additional 7,600 shares in the last quarter. Hedge funds and other institutional investors own 80.97% of the company’s stock.
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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