Ducommun (NYSE:DCO) Shares Up 6.4% After Better-Than-Expected Earnings

Ducommun Incorporated (NYSE:DCO) rose 6.4% during mid-day trading on Tuesday following a stronger than expected earnings report. The company traded as high as $61.94 and last traded at $62.32. Approximately 15,129 shares changed hands during mid-day trading, a decline of 80% from the average daily volume of 76,310 shares. The stock had previously closed at $58.55.

The aerospace company reported $0.83 earnings per share for the quarter, topping analysts’ consensus estimates of $0.63 by $0.20. Ducommun had a net margin of 3.82% and a return on equity of 7.40%. The firm had revenue of $194.11 million during the quarter, compared to analysts’ expectations of $192.30 million. During the same quarter last year, the company posted $0.70 EPS. The firm’s quarterly revenue was up 1.7% on a year-over-year basis.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the stock. StockNews.com upgraded shares of Ducommun from a “buy” rating to a “strong-buy” rating in a research note on Wednesday. B. Riley reiterated a “buy” rating on shares of Ducommun in a report on Wednesday. Finally, Truist Financial set a $76.00 price target on shares of Ducommun in a research note on Wednesday. Four equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Buy” and an average target price of $76.00.

Hedge Funds Weigh In On Ducommun

Several hedge funds have recently added to or reduced their stakes in DCO. Sterling Capital Management LLC grew its position in shares of Ducommun by 804.2% in the 4th quarter. Sterling Capital Management LLC now owns 434 shares of the aerospace company’s stock valued at $28,000 after buying an additional 386 shares during the last quarter. Venturi Wealth Management LLC increased its position in shares of Ducommun by 833.3% during the fourth quarter. Venturi Wealth Management LLC now owns 728 shares of the aerospace company’s stock worth $46,000 after purchasing an additional 650 shares in the last quarter. Virtus Fund Advisers LLC purchased a new stake in shares of Ducommun in the 4th quarter valued at about $78,000. US Bancorp DE boosted its position in shares of Ducommun by 49.9% in the 4th quarter. US Bancorp DE now owns 1,327 shares of the aerospace company’s stock valued at $84,000 after purchasing an additional 442 shares during the period. Finally, R Squared Ltd purchased a new position in Ducommun during the 4th quarter worth approximately $87,000. 92.15% of the stock is currently owned by hedge funds and other institutional investors.

Ducommun Stock Performance

The company has a market cap of $950.79 million, a PE ratio of 32.15 and a beta of 1.30. The stock has a 50 day simple moving average of $57.67 and a two-hundred day simple moving average of $62.24. The company has a debt-to-equity ratio of 0.37, a current ratio of 3.21 and a quick ratio of 2.16.

Ducommun Company Profile

Ducommun Incorporated provides engineering and manufacturing services for products and applications used primarily in the aerospace and defense, industrial, medical, and other industries in the United States. The company operates through two segments, Electronic Systems and Structural Systems. The Electronic Systems segment provides cable assemblies and interconnect systems; printed circuit board assemblies; electronic, electromechanical, and mechanical components and assemblies, as well as lightning diversion systems; and radar enclosures, aircraft avionics racks, shipboard communications and control enclosures, printed circuit board assemblies, cable assemblies, wire harnesses, interconnect systems, lightning diversion strips, surge suppressors, conformal shields, and other assemblies.