Ducommun (NYSE:DCO) Issues Quarterly Earnings Results

Ducommun (NYSE:DCO) announced its quarterly earnings results on Thursday. The aerospace company reported $0.99 earnings per share for the quarter, topping the consensus estimate of $0.95 by $0.04, Zacks reports. Ducommun had a net margin of 5.03% and a return on equity of 7.61%. The firm had revenue of $212.56 million during the quarter, compared to analysts’ expectations of $211.41 million. During the same quarter in the prior year, the company earned $0.67 EPS. The company’s revenue was up 5.6% compared to the same quarter last year.

Ducommun Stock Performance

Shares of NYSE:DCO traded up $0.34 on Friday, hitting $89.49. 109,958 shares of the company were exchanged, compared to its average volume of 109,400. The firm has a market capitalization of $1.34 billion, a P/E ratio of 34.03 and a beta of 1.38. The company has a current ratio of 3.24, a quick ratio of 2.17 and a debt-to-equity ratio of 0.31. Ducommun has a 1-year low of $51.76 and a 1-year high of $101.47. The stock’s 50 day moving average price is $93.49 and its 200 day moving average price is $84.12.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of DCO. Alliancebernstein L.P. lifted 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 worth $25,034,000 after purchasing an additional 288,496 shares during the period. Man Group plc purchased a new position in Ducommun during the 2nd quarter worth approximately $954,000. AQR Capital Management LLC lifted its stake in Ducommun by 14.5% during the 1st quarter. AQR Capital Management LLC now owns 83,479 shares of the aerospace company’s stock valued at $4,844,000 after acquiring an additional 10,574 shares during the period. Cerity Partners LLC purchased a new stake in shares of Ducommun in the 2nd quarter valued at $822,000. Finally, Balyasny Asset Management L.P. acquired a new stake in shares of Ducommun in the second quarter worth $703,000. 92.15% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the stock. Royal Bank Of Canada lifted their price objective on shares of Ducommun from $95.00 to $100.00 and gave the company an “outperform” rating in a report on Friday, August 8th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Ducommun in a report on Wednesday, October 8th. Zacks Research upgraded Ducommun to a “hold” rating in a research note on Monday, August 11th. Wall Street Zen raised Ducommun from a “buy” rating to a “strong-buy” rating in a research report on Sunday, November 2nd. Finally, Truist Financial boosted their target price on shares of Ducommun from $87.00 to $95.00 and gave the stock a “buy” rating in a report on Friday, July 11th. Six analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $97.50.

Ducommun Company Profile

Ducommun Incorporated provides engineering and manufacturing services for products and applications used primarily in the aerospace and defense, industrial, medical, and other industries in the United States. The company operates through two segments, Electronic Systems and Structural Systems. The Electronic Systems segment provides cable assemblies and interconnect systems; printed circuit board assemblies; electronic, electromechanical, and mechanical components and assemblies, as well as lightning diversion systems; and radar enclosures, aircraft avionics racks, shipboard communications and control enclosures, printed circuit board assemblies, cable assemblies, wire harnesses, interconnect systems, lightning diversion strips, surge suppressors, conformal shields, and other assemblies.