Ducommun’s (DCO) “Buy” Rating Reaffirmed at Canaccord Genuity
Canaccord Genuity reissued their buy rating on shares of Ducommun Incorporated (NYSE:DCO) in a research report report published on Tuesday. The firm currently has a $36.00 target price on the aerospace company’s stock.
A number of other research firms have also recently issued reports on DCO. BidaskClub cut Ducommun from a sell rating to a strong sell rating in a report on Tuesday, July 25th. Zacks Investment Research cut Ducommun from a strong-buy rating to a hold rating in a report on Tuesday, August 8th. ValuEngine raised Ducommun from a hold rating to a buy rating in a report on Monday. Noble Financial reaffirmed a hold rating on shares of Ducommun in a report on Friday, August 4th. Finally, B. Riley reaffirmed a buy rating and issued a $40.00 price target on shares of Ducommun in a report on Sunday, August 6th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and four have given a buy rating to the stock. The stock has a consensus rating of Hold and an average target price of $36.25.
Ducommun (NYSE:DCO) opened at 29.13 on Tuesday. The company has a market cap of $329.72 million, a price-to-earnings ratio of 24.23 and a beta of 0.80. The company has a 50-day moving average of $28.52 and a 200-day moving average of $30.20. Ducommun has a 12 month low of $18.70 and a 12 month high of $35.58.
Ducommun (NYSE:DCO) last issued its quarterly earnings data on Thursday, August 3rd. The aerospace company reported $0.33 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.30 by $0.03. Ducommun had a return on equity of 7.49% and a net margin of 2.50%. The company had revenue of $140.90 million during the quarter, compared to analysts’ expectations of $138.39 million. During the same period last year, the business earned $0.34 earnings per share. The business’s revenue was up 5.6% on a year-over-year basis. Analysts predict that Ducommun will post $1.32 EPS for the current year.
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In other Ducommun news, Director Anthony J. Reardon sold 1,996 shares of the business’s stock in a transaction dated Tuesday, September 5th. The stock was sold at an average price of $27.65, for a total transaction of $55,189.40. Following the completion of the sale, the director now directly owns 117,602 shares of the company’s stock, valued at approximately $3,251,695.30. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Stephen G. Oswald acquired 10,000 shares of the company’s stock in a transaction on Thursday, June 29th. The shares were purchased at an average cost of $28.56 per share, with a total value of $285,600.00. Following the completion of the acquisition, the chief executive officer now directly owns 55,700 shares in the company, valued at approximately $1,590,792. The disclosure for this purchase can be found here. Insiders sold 24,223 shares of company stock valued at $704,150 over the last ninety days. 8.20% of the stock is currently owned by company insiders.
A number of large investors have recently made changes to their positions in DCO. Teachers Advisors LLC raised its holdings in Ducommun by 25.0% during the 4th quarter. Teachers Advisors LLC now owns 19,804 shares of the aerospace company’s stock worth $506,000 after purchasing an additional 3,956 shares during the last quarter. Wells Fargo & Company MN raised its holdings in Ducommun by 39.6% during the 1st quarter. Wells Fargo & Company MN now owns 73,453 shares of the aerospace company’s stock worth $2,115,000 after purchasing an additional 20,854 shares during the last quarter. Bank of New York Mellon Corp raised its holdings in Ducommun by 8.7% during the 1st quarter. Bank of New York Mellon Corp now owns 49,145 shares of the aerospace company’s stock worth $1,415,000 after purchasing an additional 3,915 shares during the last quarter. Oxford Asset Management bought a new stake in Ducommun during the 1st quarter worth about $681,000. Finally, Alambic Investment Management L.P. raised its holdings in Ducommun by 18.9% during the 1st quarter. Alambic Investment Management L.P. now owns 15,100 shares of the aerospace company’s stock worth $435,000 after purchasing an additional 2,400 shares during the last quarter. 81.16% of the stock is owned by hedge funds and other institutional investors.
Ducommun Incorporated is a global provider of engineering and manufacturing services for various products and failure applications used primarily in the aerospace, defense, industrial, natural resources, medical and other industries. The Company is a solution-based provider, offering a range of value-added products and services in its primary businesses of electronics, structures and integrated solutions.
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