Canaccord Genuity Reaffirms “Buy” Rating for Ducommun Incorporated (DCO)
Canaccord Genuity reaffirmed their buy rating on shares of Ducommun Incorporated (NYSE:DCO) in a research note released on Tuesday morning. Canaccord Genuity currently has a $36.00 price objective on the aerospace company’s stock.
Several other analysts have also recently commented on the stock. ValuEngine upgraded shares of Ducommun from a hold rating to a buy rating in a research note on Monday. Zacks Investment Research cut shares of Ducommun from a strong-buy rating to a hold rating in a research note on Tuesday, August 8th. B. Riley reiterated a buy rating and issued a $40.00 target price on shares of Ducommun in a research note on Sunday, August 6th. Noble Financial reiterated a hold rating on shares of Ducommun in a research note on Friday, August 4th. Finally, BidaskClub cut shares of Ducommun from a sell rating to a strong sell rating in a research note on Tuesday, July 25th. 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 company presently has an average rating of Hold and an average target price of $36.25.
Ducommun (NYSE DCO) traded up 0.576% on Tuesday, reaching $28.835. 23,170 shares of the company’s stock traded hands. The stock has a market cap of $326.38 million, a price-to-earnings ratio of 23.989 and a beta of 0.80. The stock has a 50 day moving average price of $28.35 and a 200 day moving average price of $30.16. Ducommun has a 12-month low of $18.70 and a 12-month high of $35.58.
Ducommun (NYSE:DCO) last announced its quarterly earnings data on Thursday, August 3rd. The aerospace company reported $0.33 EPS for the quarter, beating the consensus estimate of $0.30 by $0.03. Ducommun had a net margin of 2.50% and a return on equity of 7.49%. The business had revenue of $140.90 million during the quarter, compared to analysts’ expectations of $138.39 million. During the same period in the previous year, the business posted $0.34 EPS. The business’s quarterly revenue was up 5.6% compared to the same quarter last year. Analysts forecast that Ducommun will post $1.32 EPS for the current year.
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In other Ducommun news, VP Rose F. Rogers sold 1,000 shares of the company’s stock in a transaction on Monday, June 26th. The shares were sold at an average price of $32.18, for a total transaction of $32,180.00. Following the completion of the transaction, the vice president now directly owns 26,157 shares in the company, valued at $841,732.26. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Robert C. Ducommun sold 900 shares of the company’s stock in a transaction on Tuesday, June 20th. The stock was sold at an average price of $33.01, for a total transaction of $29,709.00. Following the transaction, the director now owns 421,600 shares of the company’s stock, valued at $13,917,016. The disclosure for this sale can be found here. Insiders have sold 24,223 shares of company stock valued at $704,150 over the last 90 days. 8.20% of the stock is currently owned by company insiders.
Institutional investors have recently added to or reduced their stakes in the company. Envestnet Asset Management Inc. grew its holdings in shares of Ducommun by 15.5% during the first quarter. Envestnet Asset Management Inc. now owns 3,627 shares of the aerospace company’s stock worth $104,000 after buying an additional 488 shares in the last quarter. Tower Research Capital LLC TRC grew its holdings in shares of Ducommun by 169.8% during 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 in the last quarter. O Shaughnessy Asset Management LLC purchased a new stake in shares of Ducommun during the first quarter worth $177,000. American International Group Inc. grew its holdings in shares of Ducommun by 7.1% during the first quarter. American International Group Inc. now owns 6,398 shares of the aerospace company’s stock worth $184,000 after buying an additional 422 shares in the last quarter. Finally, Alliancebernstein L.P. purchased a new stake in shares of Ducommun during the second quarter worth $221,000. 81.16% of the stock is owned by institutional investors and hedge funds.
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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