Ducommun (NYSE:DCO) Earns Outperform Rating from Analysts at Royal Bank of Canada

Royal Bank of Canada initiated coverage on shares of Ducommun (NYSE:DCO) in a report released on Tuesday morning. The brokerage issued an outperform rating and a $72.00 price objective on the aerospace company’s stock.

Other research analysts have also issued reports about the stock. Truist Financial lifted their price objective on shares of Ducommun from $71.00 to $80.00 and gave the company a “buy” rating in a research note on Friday, November 8th. StockNews.com upgraded Ducommun from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, November 12th. Four equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and an average target price of $76.00.

Ducommun Price Performance

DCO opened at $63.66 on Tuesday. The firm has a 50-day moving average price of $64.11 and a 200-day moving average price of $62.97. Ducommun has a twelve month low of $47.53 and a twelve month high of $70.50. The company has a quick ratio of 2.16, a current ratio of 3.21 and a debt-to-equity ratio of 0.37. The company has a market capitalization of $940.83 million, a price-to-earnings ratio of 31.99 and a beta of 1.41.

Insiders Place Their Bets

In other Ducommun news, Director Robert C. Ducommun sold 1,000 shares of the firm’s stock in a transaction dated Thursday, December 5th. The stock was sold at an average price of $69.50, for a total transaction of $69,500.00. Following the sale, the director now owns 409,900 shares in the company, valued at $28,488,050. This trade represents a 0.24 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 8.80% of the company’s stock.

Hedge Funds Weigh In On Ducommun

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Point72 DIFC Ltd boosted its stake in shares of Ducommun by 591.2% in the 3rd quarter. Point72 DIFC Ltd now owns 788 shares of the aerospace company’s stock valued at $52,000 after purchasing an additional 674 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. bought a new stake in Ducommun in the third quarter worth $80,000. Eastern Bank bought a new stake in Ducommun in the third quarter worth $118,000. Quantbot Technologies LP purchased a new stake in Ducommun during the third quarter valued at about $132,000. Finally, Arizona State Retirement System bought a new position in shares of Ducommun during the second quarter valued at about $202,000. 92.15% of the stock is currently owned by hedge funds and other institutional investors.

About Ducommun

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.