Ducommun (NYSE:DCO) Stock Price Down 5.5% – Here’s What Happened

Ducommun Incorporated (NYSE:DCO)’s stock price traded down 5.5% on Tuesday . The stock traded as low as $163.09 and last traded at $163.29. 16,245 shares were traded during trading, a decline of 93% from the average session volume of 221,373 shares. The stock had previously closed at $172.73.

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. The Goldman Sachs Group reiterated a “buy” rating on shares of Ducommun in a report on Monday, August 10th. B. Riley Financial restated a “buy” rating on shares of Ducommun in a research note on Friday, August 7th. Truist Financial upped their target price on Ducommun from $150.00 to $209.00 and gave the stock a “buy” rating in a research report on Thursday, August 13th. Citigroup reiterated a “buy” rating on shares of Ducommun in a research note on Wednesday, August 12th. Finally, Royal Bank Of Canada raised their target price on Ducommun from $175.00 to $200.00 and gave the company a “sector performer” rating in a report on Friday, August 7th. One research 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 stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $192.60.

Ducommun Stock Up 3.4%

The stock has a market capitalization of $2.60 billion, a price-to-earnings ratio of -91.97 and a beta of 1.04. The firm’s fifty day moving average is $179.79 and its 200-day moving average is $157.44. The company has a debt-to-equity ratio of 0.39, a current ratio of 3.36 and a quick ratio of 2.38.

Ducommun (NYSE:DCO) last issued its earnings results on Thursday, August 6th. The aerospace company reported $1.18 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.98 by $0.20. The firm had revenue of $224.49 million for the quarter, compared to analysts’ expectations of $214.32 million. Ducommun had a negative net margin of 3.10% and a positive return on equity of 9.20%. Ducommun’s revenue was up 11.0% on a year-over-year basis. During the same quarter last year, the company posted $0.88 earnings per share. On average, sell-side analysts predict that Ducommun Incorporated will post 4.26 earnings per share for the current year.

Insider Buying and Selling at Ducommun

In related news, CEO Stephen Oswald sold 2,500 shares of Ducommun stock in a transaction dated Tuesday, August 18th. The shares were sold at an average price of $203.95, for a total value of $509,875.00. Following the sale, the chief executive officer directly owned 383,864 shares in the company, valued at $78,289,062.80. This trade represents a 0.65% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 5.00% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Ducommun

Hedge funds and other institutional investors have recently made changes to their positions in the business. Parvin Asset Management LLC raised its holdings in Ducommun by 8.9% in the 1st quarter. Parvin Asset Management LLC now owns 1,340 shares of the aerospace company’s stock valued at $163,000 after acquiring an additional 110 shares in the last quarter. Allworth Financial LP bought a new position in Ducommun in the second quarter worth $26,000. ProShare Advisors LLC boosted its stake in Ducommun by 6.9% during the fourth quarter. ProShare Advisors LLC now owns 2,523 shares of the aerospace company’s stock worth $240,000 after buying an additional 163 shares in the last quarter. Public Employees Retirement System of Ohio bought a new stake in Ducommun in the 2nd quarter valued at $33,000. Finally, Optiver Holding B.V. acquired a new position in shares of Ducommun in the 1st quarter valued at $27,000. 92.15% of the stock is currently owned by institutional investors and hedge funds.

Ducommun Company Profile

Ducommun Incorporated is a diversified manufacturing company that provides engineered products and production services primarily for the aerospace and defense industries. The company supplies components and assemblies used in commercial aircraft, military platforms, space systems and other specialized applications.

Ducommun’s Electronic Systems business produces electronic and electromechanical assemblies, interconnect systems, high-reliability components, RF and microwave products, and other systems used in avionics, communications, radar and defense applications.