Ducommun (NYSE:DCO) Posts Earnings Results, Beats Expectations By $0.07 EPS

Ducommun (NYSE:DCO) announced its quarterly earnings data on Tuesday. The aerospace company reported $0.75 EPS for the quarter, topping analysts’ consensus estimates of $0.68 by $0.07, FiscalAI reports. The business had revenue of $209.02 million during the quarter, compared to analysts’ expectations of $199.61 million. Ducommun had a positive return on equity of 8.47% and a negative net margin of 4.11%.The firm’s quarterly revenue was up 7.7% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.83 earnings per share.

Ducommun Stock Down 2.6%

NYSE DCO traded down $3.69 during trading hours on Tuesday, hitting $136.99. 90,009 shares of the company traded hands, compared to its average volume of 183,138. The company has a debt-to-equity ratio of 0.45, a quick ratio of 2.47 and a current ratio of 3.50. The business’s 50-day moving average is $132.90 and its 200-day moving average is $113.36. The stock has a market capitalization of $2.05 billion, a price-to-earnings ratio of -59.41 and a beta of 1.06. Ducommun has a twelve month low of $65.16 and a twelve month high of $148.82.

Analyst Ratings Changes

DCO has been the subject of several research analyst reports. Citigroup reduced their price target on shares of Ducommun from $143.00 to $141.00 and set a “buy” rating for the company in a report on Thursday, April 2nd. Truist Financial raised shares of Ducommun to a “strong-buy” rating in a research report on Friday, May 1st. The Goldman Sachs Group increased their target price on Ducommun from $134.00 to $151.00 and gave the stock a “buy” rating in a report on Monday, April 20th. Wall Street Zen lowered Ducommun from a “buy” rating to a “hold” rating in a report on Saturday. Finally, B. Riley Financial reaffirmed a “buy” rating on shares of Ducommun in a research report on Wednesday, January 28th. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, Ducommun has an average rating of “Moderate Buy” and an average target price of $144.50.

Insider Activity at Ducommun

In related news, Director Richard A. Baldridge sold 10,440 shares of the business’s stock in a transaction on Tuesday, March 10th. The shares were sold at an average price of $130.83, for a total transaction of $1,365,865.20. Following the transaction, the director directly owned 20,100 shares in the company, valued at approximately $2,629,683. The trade was a 34.18% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 5.00% of the company’s stock.

Institutional Investors Weigh In On Ducommun

Several hedge funds have recently bought and sold shares of the company. AQR Capital Management LLC raised its stake in Ducommun by 14.5% in the first quarter. AQR Capital Management LLC now owns 83,479 shares of the aerospace company’s stock valued at $4,844,000 after buying an additional 10,574 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of Ducommun by 4.1% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 8,050 shares of the aerospace company’s stock worth $467,000 after acquiring an additional 319 shares during the last quarter. EverSource Wealth Advisors LLC raised its stake in Ducommun by 618.8% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 345 shares of the aerospace company’s stock valued at $29,000 after acquiring an additional 297 shares during the period. First Trust Advisors LP raised its stake in Ducommun by 10.0% in the 2nd quarter. First Trust Advisors LP now owns 5,809 shares of the aerospace company’s stock valued at $480,000 after acquiring an additional 528 shares during the period. Finally, Marshall Wace LLP lifted its holdings in Ducommun by 7.9% during the 2nd quarter. Marshall Wace LLP now owns 71,545 shares of the aerospace company’s stock valued at $5,912,000 after purchasing an additional 5,212 shares during the last quarter. 92.15% of the stock is currently 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.