Wall Street Zen Upgrades Ducommun (NYSE:DCO) to Strong-Buy

Ducommun (NYSE:DCO) was upgraded by investment analysts at Wall Street Zen from a “buy” rating to a “strong-buy” rating in a note issued to investors on Sunday.

Several other equities research analysts have also commented on the stock. Weiss Ratings reissued a “buy (b-)” rating on shares of Ducommun in a research note on Wednesday, October 8th. Royal Bank Of Canada boosted their price objective on shares of Ducommun from $95.00 to $100.00 and gave the stock an “outperform” rating in a research note on Friday, August 8th. Citigroup reissued a “buy” rating and set a $101.00 price objective (up previously from $91.00) on shares of Ducommun in a research note on Monday, July 14th. Zacks Research raised shares of Ducommun to a “hold” rating in a research note on Monday, August 11th. Finally, Truist Financial boosted their price objective on shares of Ducommun from $87.00 to $95.00 and gave the stock a “buy” rating in a research note on Friday, July 11th. Six research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat.com, Ducommun has an average rating of “Moderate Buy” and a consensus target price of $97.50.

Ducommun Price Performance

Shares of NYSE DCO opened at $91.59 on Friday. Ducommun has a 1 year low of $51.76 and a 1 year high of $101.47. The company has a debt-to-equity ratio of 0.31, a current ratio of 3.24 and a quick ratio of 2.17. The company’s 50-day moving average is $93.65 and its 200 day moving average is $82.90. The stock has a market capitalization of $1.37 billion, a P/E ratio of 34.82 and a beta of 1.38.

Ducommun (NYSE:DCO) last announced its quarterly earnings results on Thursday, August 7th. The aerospace company reported $0.88 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.80 by $0.08. Ducommun had a net margin of 5.03% and a return on equity of 7.61%. The company had revenue of $202.26 million for the quarter, compared to analysts’ expectations of $199.29 million. During the same quarter in the previous year, the company earned $0.52 earnings per share. Ducommun’s quarterly revenue was up 2.7% on a year-over-year basis. On average, sell-side analysts expect that Ducommun will post 3.21 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in DCO. Teacher Retirement System of Texas raised its holdings in shares of Ducommun by 49.2% during the first quarter. Teacher Retirement System of Texas now owns 74,576 shares of the aerospace company’s stock valued at $4,328,000 after purchasing an additional 24,585 shares during the last quarter. Arizona State Retirement System raised its holdings in shares of Ducommun by 4.8% during the first quarter. Arizona State Retirement System now owns 3,815 shares of the aerospace company’s stock valued at $221,000 after purchasing an additional 176 shares during the last quarter. New York State Common Retirement Fund raised its holdings in shares of Ducommun by 25.0% during the first quarter. New York State Common Retirement Fund now owns 20,012 shares of the aerospace company’s stock valued at $1,161,000 after purchasing an additional 3,998 shares during the last quarter. MQS Management LLC purchased a new position in shares of Ducommun during the first quarter valued at approximately $400,000. Finally, AMH Equity Ltd purchased a new position in shares of Ducommun during the first quarter valued at approximately $1,567,000. 92.15% of the stock is owned by hedge funds and other institutional investors.

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.