Ducommun Inc. (NYSE:DCO) was downgraded by Zacks Investment Research from a “strong-buy” rating to a “hold” rating in a report released on Tuesday.
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. “
A number of other brokerages have also weighed in on DCO. B. Riley reaffirmed a “buy” rating and issued a $26.75 price target on shares of Ducommun in a research note on Thursday, August 11th. Canaccord Genuity reaffirmed a “buy” rating and issued a $25.00 price target on shares of Ducommun in a research note on Sunday, August 7th. Finally, FBR & Co reaffirmed a “buy” rating on shares of Ducommun in a research note on Friday, August 5th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and four have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $23.63.
Shares of Ducommun (NYSE:DCO) traded down 2.41% on Tuesday, hitting $20.65. The stock had a trading volume of 70,858 shares. Ducommun has a one year low of $12.28 and a one year high of $24.86. The stock’s market cap is $230.58 million. The company’s 50 day moving average is $22.27 and its 200 day moving average is $19.42.
Ducommun (NYSE:DCO) last issued its quarterly earnings results on Thursday, August 4th. The company reported $0.34 earnings per share for the quarter, topping analysts’ consensus estimates of $0.28 by $0.06. The company earned $133.40 million during the quarter, compared to analyst estimates of $141.54 million. Ducommun had a negative net margin of 9.38% and a positive return on equity of 3.45%. The business’s revenue for the quarter was down 23.7% compared to the same quarter last year. During the same period in the prior year, the business posted $0.16 EPS. Equities research analysts predict that Ducommun will post $1.43 EPS for the current fiscal year.
In other news, VP Rose F. Rogers sold 5,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 6th. The shares were sold at an average price of $24.29, for a total transaction of $121,450.00. Following the sale, the vice president now owns 32,816 shares in the company, valued at $797,100.64. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 9.10% of the company’s stock.
Several large investors have recently added to or reduced their stakes in the stock. First Manhattan Co. purchased a new stake in Ducommun during the second quarter worth about $113,000. Metropolitan Life Insurance Co. NY purchased a new stake in Ducommun during the second quarter worth about $175,000. American Financial Group Inc. purchased a new stake in Ducommun during the second quarter worth about $219,000. Emerald Mutual Fund Advisers Trust raised its stake in Ducommun by 24.9% in the second quarter. Emerald Mutual Fund Advisers Trust now owns 15,841 shares of the company’s stock worth $313,000 after buying an additional 3,159 shares in the last quarter. Finally, Nationwide Fund Advisors raised its stake in Ducommun by 106.3% in the second quarter. Nationwide Fund Advisors now owns 20,315 shares of the company’s stock worth $402,000 after buying an additional 10,469 shares in the last quarter. Institutional investors and hedge funds own 79.43% of the company’s stock.
Ducommun Company Profile
Ducommun Incorporated is a global provider of engineering and manufacturing services for various products and 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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Ducommun Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ducommun Inc. and related companies with MarketBeat.com's FREE daily email newsletter.