Ducommun Incorporated (NYSE:DCO) Sees Large Decrease in Short Interest

Ducommun Incorporated (NYSE:DCO) was the target of a significant drop in short interest during the month of February. As of February 27th, there was short interest totaling 337,021 shares, a drop of 14.3% from the February 12th total of 393,159 shares. Based on an average daily volume of 152,829 shares, the short-interest ratio is presently 2.2 days. Currently, 2.5% of the company’s stock are sold short. Currently, 2.5% of the company’s stock are sold short. Based on an average daily volume of 152,829 shares, the short-interest ratio is presently 2.2 days.

Insider Activity at Ducommun

In related news, Director Richard A. Baldridge sold 10,440 shares of Ducommun stock in a transaction dated 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 transaction, the director directly owned 20,100 shares in the company, valued at approximately $2,629,683. This trade represents a 34.18% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 8.90% of the company’s stock.

Hedge Funds Weigh In On Ducommun

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Alliancebernstein L.P. raised its stake in shares of Ducommun by 1,993.3% in the 2nd quarter. Alliancebernstein L.P. now owns 302,969 shares of the aerospace company’s stock worth $25,034,000 after buying an additional 288,496 shares in the last quarter. Loomis Sayles & Co. L P bought a new position in Ducommun during the fourth quarter valued at about $26,028,000. Ophir Asset Management Pty Ltd bought a new position in Ducommun during the second quarter valued at about $22,151,000. Brown Advisory Inc. acquired a new position in Ducommun during the second quarter worth about $17,025,000. Finally, Aberdeen Group plc bought a new stake in shares of Ducommun in the 3rd quarter worth approximately $19,035,000. 92.15% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on DCO. Truist Financial boosted their price target on Ducommun from $124.00 to $136.00 and gave the company a “buy” rating in a report on Friday, February 27th. Weiss Ratings reissued a “hold (c-)” rating on shares of Ducommun in a report on Monday, December 29th. Royal Bank Of Canada upped 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. B. Riley Financial reiterated a “buy” rating on shares of Ducommun in a research report on Wednesday, January 28th. Finally, The Goldman Sachs Group raised their price target on Ducommun from $117.00 to $132.00 and gave the stock a “buy” rating in a report on Tuesday, January 20th. Five equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, Ducommun currently has a consensus rating of “Moderate Buy” and an average target price of $140.25.

Ducommun Stock Down 1.0%

DCO stock opened at $124.66 on Thursday. The company has a quick ratio of 2.47, a current ratio of 3.50 and a debt-to-equity ratio of 0.45. Ducommun has a fifty-two week low of $51.76 and a fifty-two week high of $140.02. The firm’s 50-day simple moving average is $120.70 and its 200 day simple moving average is $102.93. The stock has a market cap of $1.87 billion, a PE ratio of -53.96 and a beta of 1.03.

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

About Ducommun

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.