Citigroup Cuts Ducommun (NYSE:DCO) Price Target to $141.00

Ducommun (NYSE:DCO) had its price target reduced by Citigroup from $143.00 to $141.00 in a research note released on Thursday,Benzinga reports. Citigroup currently has a buy rating on the aerospace company’s stock.

A number of other research analysts have also recently issued reports on the company. B. Riley Financial reiterated a “buy” rating on shares of Ducommun in a research note on Wednesday, January 28th. Royal Bank Of Canada increased their target price on Ducommun from $142.00 to $150.00 and gave the stock an “outperform” rating in a research note on Friday, March 13th. Zacks Research upgraded Ducommun from a “strong sell” rating to a “hold” rating in a report on Monday, December 8th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Ducommun in a research report on Monday, December 29th. Finally, Wall Street Zen cut shares of Ducommun from a “strong-buy” rating to a “buy” rating in a research note on Sunday, February 15th. Five equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat, Ducommun currently has an average rating of “Moderate Buy” and a consensus price target of $139.75.

Ducommun Trading Up 0.3%

NYSE:DCO opened at $127.41 on Thursday. The firm has a market capitalization of $1.91 billion, a P/E ratio of -55.16 and a beta of 1.00. The company has a debt-to-equity ratio of 0.45, a current ratio of 3.50 and a quick ratio of 2.47. Ducommun has a one year low of $51.76 and a one year high of $140.02. The company’s 50-day simple moving average is $123.49 and its 200 day simple moving average is $105.61.

Ducommun (NYSE:DCO) last announced its earnings results on Thursday, February 26th. The aerospace company reported $1.05 earnings per share 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 business had revenue of $215.80 million during the quarter, compared to the consensus estimate of $217.42 million. During the same quarter last year, the firm earned $0.75 earnings per share. The business’s revenue for the quarter was up 9.4% on a year-over-year basis. As a group, analysts forecast that Ducommun will post 3.21 EPS for the current fiscal year.

Insider Buying and Selling

In other Ducommun news, Director Richard A. Baldridge sold 10,440 shares of Ducommun stock in a transaction that occurred 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 sale, the director owned 20,100 shares of the company’s stock, valued at approximately $2,629,683. The trade was a 34.18% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 5.00% of the company’s stock.

Hedge Funds Weigh In On Ducommun

A number of institutional investors and hedge funds have recently modified their holdings of DCO. Hsbc Holdings PLC grew its holdings in shares of Ducommun by 84.5% in the fourth quarter. Hsbc Holdings PLC now owns 5,822 shares of the aerospace company’s stock worth $553,000 after acquiring an additional 2,667 shares during the period. XTX Topco Ltd bought a new position in Ducommun in the fourth quarter valued at about $628,000. VARCOV Co. bought a new position in Ducommun in the fourth quarter valued at about $536,000. Voloridge Investment Management LLC purchased a new position in Ducommun in the fourth quarter worth about $421,000. Finally, Wellington Management Group LLP boosted its position in Ducommun by 1.8% in the fourth quarter. Wellington Management Group LLP now owns 103,934 shares of the aerospace company’s stock worth $9,887,000 after purchasing an additional 1,795 shares during the last quarter. 92.15% of the stock is currently owned by hedge funds and other institutional investors.

Ducommun Company Profile

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.