Ducommun Incorporated (NYSE:DCO) Upgraded by Zacks Investment Research to Strong-Buy
Ducommun Incorporated (NYSE:DCO) was upgraded by Zacks Investment Research from a “hold” rating to a “strong-buy” rating in a research note issued to investors on Friday. The brokerage currently has a $34.00 price target on the aerospace company’s stock. Zacks Investment Research‘s price objective would indicate a potential upside of 16.76% from the stock’s previous close.
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. “
A number of other equities analysts have also weighed in on the company. Canaccord Genuity boosted their price objective on Ducommun from $35.00 to $36.00 and gave the stock a “buy” rating in a research note on Friday. B. Riley reissued a “buy” rating and set a $40.00 price objective 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. Finally, Noble Financial reissued a “hold” rating on shares of Ducommun in a research note on Saturday, May 20th. One analyst has rated the stock with a sell rating, two have issued a hold rating, three have given a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average target price of $36.25.
Shares of Ducommun (DCO) traded down 2.02% during mid-day trading on Friday, reaching $29.12. The company had a trading volume of 114,717 shares. The company has a market capitalization of $329.61 million, a PE ratio of 24.27 and a beta of 0.90. The stock’s 50-day moving average price is $31.55 and its 200 day moving average price is $30.58. Ducommun has a 1-year low of $18.70 and a 1-year high of $35.58.
Ducommun (NYSE:DCO) last issued its quarterly earnings results on Thursday, August 3rd. The aerospace company reported $0.33 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.30 by $0.03. Ducommun had a return on equity of 7.62% and a net margin of 2.54%. The firm had revenue of $140.90 million during the quarter, compared to analysts’ expectations of $138.39 million. During the same period in the previous year, the business earned $0.34 earnings per share. The firm’s revenue for the quarter was up 5.6% on a year-over-year basis. Equities analysts expect that Ducommun will post $1.33 EPS for the current year.
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In other news, Director Robert C. Ducommun sold 900 shares of the company’s stock in a transaction on Tuesday, June 20th. The stock was sold at an average price of $33.01, for a total value of $29,709.00. Following the transaction, the director now owns 421,600 shares of the company’s stock, valued at approximately $13,917,016. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, VP Christopher D. Wampler sold 1,500 shares of the company’s stock in a transaction on Thursday, June 1st. The shares were sold at an average price of $32.01, for a total value of $48,015.00. Following the completion of the transaction, the vice president now directly owns 9,514 shares in the company, valued at approximately $304,543.14. The disclosure for this sale can be found here. In the last ninety days, insiders sold 9,000 shares of company stock worth $289,784. Corporate insiders own 8.20% of the company’s stock.
A number of institutional investors have recently bought and sold shares of DCO. Envestnet Asset Management Inc. raised its position 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 buying an additional 488 shares during the last quarter. O Shaughnessy Asset Management LLC purchased a new position in Ducommun during the first quarter valued at about $177,000. American International Group Inc. raised its position 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 buying an additional 422 shares during the last quarter. Nine Chapters Capital Management LLC purchased a new position in Ducommun during the first quarter valued at about $380,000. Finally, UBS Group AG raised its position in Ducommun by 321.7% in the first quarter. UBS Group AG now owns 13,760 shares of the aerospace company’s stock valued at $396,000 after buying an additional 10,497 shares during the last quarter. 80.97% 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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