Citigroup Has Lowered Expectations for Ducommun (NYSE:DCO) Stock Price

Ducommun (NYSE:DCO) had its target price decreased by investment analysts at Citigroup from $143.00 to $141.00 in a research note issued to investors on Thursday,Benzinga reports. The firm currently has a “buy” rating on the aerospace company’s stock. Citigroup’s price target would indicate a potential upside of 10.67% from the stock’s current price.

Several other analysts also recently issued reports on the stock. B. Riley Financial reaffirmed a “buy” rating on shares of Ducommun in a report on Wednesday, January 28th. Truist Financial lifted their price objective on Ducommun from $124.00 to $136.00 and gave the stock a “buy” rating in a research report on Friday, February 27th. Zacks Research raised Ducommun from a “strong sell” rating to a “hold” rating in a research note on Monday, December 8th. Royal Bank Of Canada increased their target price on Ducommun from $142.00 to $150.00 and gave the company an “outperform” rating in a report on Friday, March 13th. Finally, Wall Street Zen cut Ducommun from a “strong-buy” rating to a “buy” rating in a report on Sunday, February 15th. Five investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, Ducommun has an average rating of “Moderate Buy” and a consensus price target of $139.75.

Ducommun Stock Performance

NYSE:DCO opened at $127.41 on Thursday. The firm’s fifty day simple moving average is $123.49 and its 200-day simple moving average is $105.52. The company has a quick ratio of 2.47, a current ratio of 3.50 and a debt-to-equity ratio of 0.45. The stock has a market cap of $1.91 billion, a PE ratio of -55.16 and a beta of 1.00. Ducommun has a fifty-two week low of $51.76 and a fifty-two week high of $140.02.

Ducommun (NYSE:DCO) last issued its earnings results on Thursday, February 26th. The aerospace company reported $1.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.91 by $0.14. The company had revenue of $215.80 million during the quarter, compared to analysts’ expectations of $217.42 million. Ducommun had a negative net margin of 4.11% and a positive return on equity of 8.47%. The firm’s quarterly revenue was up 9.4% compared to the same quarter last year. During the same period last year, the company posted $0.75 earnings per share. Analysts expect that Ducommun will post 3.21 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, Director Richard A. Baldridge sold 10,440 shares of Ducommun stock in a transaction on Tuesday, March 10th. The stock was sold at an average price of $130.83, for a total value of $1,365,865.20. Following the completion of the sale, the director owned 20,100 shares of the company’s stock, valued at $2,629,683. The trade was a 34.18% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 5.00% of the company’s stock.

Hedge Funds Weigh In On Ducommun

A number of institutional investors have recently made changes to their positions in the business. Hsbc Holdings PLC raised its holdings in Ducommun by 84.5% in the fourth quarter. Hsbc Holdings PLC now owns 5,822 shares of the aerospace company’s stock valued at $553,000 after acquiring an additional 2,667 shares in the last quarter. XTX Topco Ltd acquired a new stake in shares of Ducommun in the 4th quarter valued at about $628,000. VARCOV Co. bought a new position in shares of Ducommun during the fourth quarter worth about $536,000. Voloridge Investment Management LLC acquired a new position in Ducommun in the fourth quarter worth about $421,000. Finally, Wellington Management Group LLP increased its holdings in Ducommun by 1.8% in the fourth quarter. Wellington Management Group LLP now owns 103,934 shares of the aerospace company’s stock valued at $9,887,000 after buying an additional 1,795 shares during the last quarter. 92.15% of the stock is owned by institutional investors and hedge funds.

Ducommun Company Profile

Ducommun Incorporated, through its Electronics and Structures segments, provides engineered products and integrated systems for the global aerospace, defense and space markets. The Electronics segment focuses on high-reliability electronic assemblies, cable and wire harnesses, connector systems and harsh environment electronics for flight-critical applications. In the Structures segment, Ducommun manufactures complex metallic and composite components such as flight control surfaces, skin panels, heat exchangers and other aerostructures for commercial and military platforms.

Founded in 1849 in California as a hardware and stagecoach parts supplier, Ducommun expanded into aerospace manufacturing during World War II and has since grown its capabilities through targeted acquisitions and organic investments.