Citigroup Forecasts Strong Price Appreciation for Ducommun (NYSE:DCO) Stock

Ducommun (NYSE:DCO) had its target price boosted by research analysts at Citigroup from $125.00 to $143.00 in a note issued to investors on Monday,Benzinga reports. The brokerage presently has a “buy” rating on the aerospace company’s stock. Citigroup’s target price would indicate a potential upside of 10.09% from the stock’s current price.

DCO has been the topic of a number of other reports. Royal Bank Of Canada lifted their target price on Ducommun from $100.00 to $142.00 and gave the stock an “outperform” rating in a research report on Friday, February 20th. The Goldman Sachs Group raised their price objective on Ducommun from $117.00 to $132.00 and gave the company a “buy” rating in a research note on Tuesday, January 20th. Zacks Research raised Ducommun from a “strong sell” rating to a “hold” rating in a research report on Monday, December 8th. Truist Financial increased their target price on Ducommun from $124.00 to $136.00 and gave the company a “buy” rating in a research note on Friday. Finally, Weiss Ratings restated a “hold (c-)” rating on shares of Ducommun in a research note on Monday, December 29th. Five analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, Ducommun currently has an average rating of “Moderate Buy” and an average target price of $138.25.

Ducommun Stock Up 5.1%

Shares of DCO traded up $6.30 during mid-day trading on Monday, reaching $129.89. 173,137 shares of the stock traded hands, compared to its average volume of 159,631. The stock has a fifty day simple moving average of $112.38 and a 200 day simple moving average of $99.51. Ducommun has a 12-month low of $51.76 and a 12-month high of $132.00. The company has a quick ratio of 2.47, a current ratio of 3.50 and a debt-to-equity ratio of 0.45. The firm has a market cap of $1.95 billion, a price-to-earnings ratio of -56.23 and a beta of 1.03.

Ducommun (NYSE:DCO) last released its quarterly 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 analyst estimates of $217.42 million. During the same period last year, the business earned $0.75 EPS. The business’s revenue was up 9.4% on a year-over-year basis. Sell-side analysts expect that Ducommun will post 3.21 EPS for the current fiscal year.

Insiders Place Their Bets

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

Hedge Funds Weigh In On Ducommun

Large investors have recently bought and sold shares of the business. Alliancebernstein L.P. grew its holdings in shares of Ducommun by 1,993.3% during the second quarter. Alliancebernstein L.P. now owns 302,969 shares of the aerospace company’s stock valued at $25,034,000 after purchasing an additional 288,496 shares during the last quarter. Loomis Sayles & Co. L P acquired a new position in Ducommun during the 4th quarter valued at approximately $26,028,000. Ophir Asset Management Pty Ltd bought a new position in Ducommun during the 2nd quarter worth $22,151,000. Brown Advisory Inc. acquired a new stake in Ducommun in the second quarter worth $17,025,000. Finally, Aberdeen Group plc bought a new stake in Ducommun in the third quarter valued at $19,035,000. Institutional investors own 92.15% of the company’s stock.

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.