Ducommun (NYSE:DCO) Lowered to “Hold” Rating by Wall Street Zen

Wall Street Zen downgraded shares of Ducommun (NYSE:DCO) from a buy rating to a hold rating in a research note published on Saturday.

DCO has been the subject of a number of other reports. Royal Bank Of Canada upped their price target on shares of Ducommun from $142.00 to $150.00 and gave the company an “outperform” rating in a report on Friday, March 13th. Truist Financial upgraded shares of Ducommun to a “strong-buy” rating in a report on Friday, May 1st. Citigroup lowered their price target on shares of Ducommun from $143.00 to $141.00 and set a “buy” rating for the company in a report on Thursday, April 2nd. The Goldman Sachs Group upped their price target on shares of Ducommun from $134.00 to $151.00 and gave the company a “buy” rating in a report on Monday, April 20th. Finally, B. Riley Financial reiterated a “buy” rating on shares of Ducommun in a report on Wednesday, January 28th. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $144.50.

Ducommun Price Performance

Shares of Ducommun stock opened at $137.64 on Friday. Ducommun has a 52-week low of $64.51 and a 52-week high of $148.82. The stock has a market capitalization of $2.06 billion, a price-to-earnings ratio of -59.58 and a beta of 1.06. The company has a fifty day moving average of $132.32 and a 200-day moving average of $112.75. The company has a debt-to-equity ratio of 0.45, a quick ratio of 2.47 and a current ratio of 3.50.

Ducommun (NYSE:DCO) last announced its quarterly earnings data on Thursday, February 26th. The aerospace company reported $1.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.91 by $0.14. Ducommun had a negative net margin of 4.11% and a positive return on equity of 8.47%. The company had revenue of $215.80 million during the quarter, compared to analysts’ expectations of $217.42 million. During the same quarter in the prior year, the company earned $0.75 EPS. The firm’s revenue was up 9.4% on a year-over-year basis. Equities research analysts expect that Ducommun will post 4.01 EPS for the current year.

Insider Buying and Selling

In other Ducommun news, Director Richard A. Baldridge sold 10,440 shares of the company’s stock in a transaction on Tuesday, March 10th. The shares were sold at an average price of $130.83, for a total value of $1,365,865.20. Following the completion of the transaction, the director directly owned 20,100 shares in the company, valued at approximately $2,629,683. This represents a 34.18% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 5.00% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in DCO. Alliancebernstein L.P. raised its holdings in Ducommun by 1,993.3% in the 2nd quarter. Alliancebernstein L.P. now owns 302,969 shares of the aerospace company’s stock worth $25,034,000 after purchasing an additional 288,496 shares in the last quarter. Loomis Sayles & Co. L P bought a new position in Ducommun in the 4th quarter worth $26,028,000. Aberdeen Group plc bought a new position in Ducommun in the 3rd quarter worth $19,035,000. Thornburg Investment Management Inc. bought a new position in Ducommun in the 3rd quarter worth $12,953,000. Finally, Millennium Management LLC raised its holdings in Ducommun by 267.3% in the 4th quarter. Millennium Management LLC now owns 116,872 shares of the aerospace company’s stock worth $11,118,000 after purchasing an additional 85,056 shares in the last quarter. 92.15% of the stock is currently owned by institutional investors.

About Ducommun

Ducommun Incorporated, through its Electronics and Structures segments, provides engineered products and integrated systems for the global aerospace, defense and space markets. The Electronics segment focuses on high-reliability electronic assemblies, cable and wire harnesses, connector systems and harsh environment electronics for flight-critical applications. In the Structures segment, Ducommun manufactures complex metallic and composite components such as flight control surfaces, skin panels, heat exchangers and other aerostructures for commercial and military platforms.

Founded in 1849 in California as a hardware and stagecoach parts supplier, Ducommun expanded into aerospace manufacturing during World War II and has since grown its capabilities through targeted acquisitions and organic investments.