Ducommun (NYSE:DCO) Shares Gap Up – Here’s Why

by · The Cerbat Gem

Ducommun Incorporated (NYSE:DCO – Get Free Report)’s stock price gapped up before the market opened on Tuesday . The stock had previously closed at $94.24, but opened at $98.60. Ducommun shares last traded at $98.4050, with a volume of 1,835 shares changing hands.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the company. Weiss Ratings reissued a “sell (d+)” rating on shares of Ducommun in a research note on Monday, December 15th. Zacks Research raised shares of Ducommun from a “strong sell” rating to a “hold” rating in a research report on Monday, December 8th. Citigroup began coverage on shares of Ducommun in a research report on Thursday, December 11th. They issued a “buy” rating and a $110.00 target price for the company. Finally, Wall Street Zen lowered shares of Ducommun from a “strong-buy” rating to a “buy” rating in a research note on Monday, November 10th. Five research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $99.75.

View Our Latest Research Report on Ducommun

Ducommun Trading Down 0.1%

The stock’s fifty day simple moving average is $92.38 and its two-hundred day simple moving average is $90.05. The firm has a market cap of $1.47 billion, a PE ratio of -42.07 and a beta of 1.08. The company has a quick ratio of 1.46, a current ratio of 2.04 and a debt-to-equity ratio of 0.33.

Ducommun (NYSE:DCO – Get Free Report) last posted its quarterly earnings results on Thursday, November 6th. The aerospace company reported $0.99 earnings per share for the quarter, topping the consensus estimate of $0.95 by $0.04. The company had revenue of $212.56 million for the quarter, compared to the consensus estimate of $211.41 million. Ducommun had a positive return on equity of 7.70% and a negative net margin of 4.29%.The firm’s quarterly revenue was up 5.6% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.67 EPS. On average, sell-side analysts forecast that Ducommun Incorporated will post 3.21 EPS for the current fiscal year.

Insider Transactions at Ducommun

In related news, VP Jerry L. Redondo sold 2,000 shares of the stock in a transaction dated Wednesday, December 10th. The shares were sold at an average price of $92.86, for a total transaction of $185,720.00. Following the sale, the vice president directly owned 65,269 shares of the company’s stock, valued at approximately $6,060,879.34. This represents a 2.97% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 8.90% of the stock is currently owned by insiders.

Institutional Trading of Ducommun

Hedge funds and other institutional investors have recently modified their holdings of the company. Envestnet Asset Management Inc. grew its holdings in Ducommun by 3.8% during the 3rd quarter. Envestnet Asset Management Inc. now owns 3,236 shares of the aerospace company’s stock valued at $311,000 after buying an additional 117 shares in the last quarter. Panagora Asset Management Inc. lifted its stake in shares of Ducommun by 0.9% during the 2nd quarter. Panagora Asset Management Inc. now owns 13,027 shares of the aerospace company’s stock worth $1,076,000 after acquiring an additional 119 shares during the last quarter. CWM LLC boosted its stake in shares of Ducommun by 27.7% during the second quarter. CWM LLC now owns 687 shares of the aerospace company’s stock valued at $57,000 after purchasing an additional 149 shares during the period. Ameriprise Financial Inc. increased its position in shares of Ducommun by 2.3% during the third quarter. Ameriprise Financial Inc. now owns 6,836 shares of the aerospace company’s stock worth $657,000 after acquiring an additional 153 shares during the period. Finally, The Manufacturers Life Insurance Company increased its stake in shares of Ducommun by 3.2% during the second quarter. The Manufacturers Life Insurance Company now owns 5,014 shares of the aerospace company’s stock valued at $414,000 after buying an additional 155 shares during the period. 92.15% of the stock is owned by hedge funds and other institutional investors.

Ducommun Company Profile

(Get Free Report)

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.

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