Ducommun (DCO) Upgraded to “Hold” by Zacks Investment Research
Zacks Investment Research upgraded shares of Ducommun (NYSE:DCO) from a strong sell rating to a hold rating in a report released on Wednesday morning.
According to Zacks, “Ducommun Incorporated manufactures components and assemblies principally for domestic and foreign commercial and military aircraft and space programs. Ducommun is a subcontractor to Lockheed Martin on the Space Shuttle external tank and a supplier of components for the Space Shuttle, as well as for the International Space Station. “
Several other equities analysts have also recently issued reports on DCO. ValuEngine raised shares of Ducommun from a hold rating to a buy rating in a research note on Monday, September 11th. Canaccord Genuity reaffirmed a buy rating and issued a $36.00 price objective on shares of Ducommun in a research note on Tuesday, September 12th. Sidoti cut shares of Ducommun from a buy rating to a neutral rating in a research note on Tuesday, October 17th. B. Riley set a $40.00 price objective on shares of Ducommun and gave the stock a buy rating in a research note on Monday, October 30th. Finally, Noble Financial reaffirmed a hold rating on shares of Ducommun in a research note on Friday, November 3rd. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and four have assigned a buy rating to the company’s stock. Ducommun presently has an average rating of Hold and a consensus price target of $36.80.
Ducommun (NYSE:DCO) last announced its quarterly earnings data on Wednesday, November 1st. The aerospace company reported $0.41 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.38 by $0.03. The company had revenue of $138.70 million for the quarter, compared to analysts’ expectations of $143.72 million. Ducommun had a net margin of 2.40% and a return on equity of 7.20%. The business’s revenue was up 4.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.44 EPS. equities research analysts forecast that Ducommun will post 0.59 earnings per share for the current fiscal year.
In other Ducommun news, Director Anthony J. Reardon sold 30,000 shares of the firm’s stock in a transaction dated Tuesday, November 14th. The shares were sold at an average price of $26.04, for a total value of $781,200.00. Following the completion of the transaction, the director now directly owns 82,603 shares in the company, valued at $2,150,982.12. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Stephen G. Oswald bought 10,000 shares of the firm’s stock in a transaction on Monday, November 6th. The stock was purchased at an average price of $27.39 per share, with a total value of $273,900.00. Following the completion of the acquisition, the chief executive officer now owns 65,700 shares of the company’s stock, valued at $1,799,523. The disclosure for this purchase can be found here. Company insiders own 8.20% of the company’s stock.
Several institutional investors and hedge funds have recently made changes to their positions in DCO. Tower Research Capital LLC TRC boosted its holdings in shares of Ducommun by 169.8% in the second quarter. Tower Research Capital LLC TRC now owns 3,400 shares of the aerospace company’s stock worth $107,000 after buying an additional 2,140 shares during the period. Alliancebernstein L.P. acquired a new stake in Ducommun in the second quarter valued at approximately $221,000. Macquarie Group Ltd. acquired a new stake in Ducommun in the third quarter valued at approximately $223,000. Mackenzie Financial Corp acquired a new stake in Ducommun in the third quarter valued at approximately $229,000. Finally, First Trust Advisors LP acquired a new stake in Ducommun in the third quarter valued at approximately $261,000. Institutional investors own 81.64% of the company’s stock.
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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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