Ducommun Incorporated (NYSE:DCO – Get Free Report)’s stock price was down 4.3% during trading on Friday after Truist Financial lowered their price target on the stock from $69.00 to $65.00. Truist Financial currently has a buy rating on the stock. Ducommun traded as low as $49.00 and last traded at $49.36. Approximately 26,049 shares traded hands during mid-day trading, a decline of 76% from the average daily volume of 108,590 shares. The stock had previously closed at $51.60.
Separately, Royal Bank of Canada boosted their target price on shares of Ducommun from $56.00 to $60.00 and gave the company an “outperform” rating in a research note on Thursday, November 9th. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, Ducommun presently has a consensus rating of “Moderate Buy” and a consensus target price of $62.80.
Insiders Place Their Bets
In related news, VP Jerry L. Redondo sold 1,559 shares of the firm’s stock in a transaction that occurred on Wednesday, December 6th. The shares were sold at an average price of $52.31, for a total value of $81,551.29. Following the completion of the sale, the vice president now owns 59,064 shares of the company’s stock, valued at $3,089,637.84. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 10.80% of the company’s stock.
Hedge Funds Weigh In On Ducommun
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Pinebridge Investments L.P. bought a new stake in shares of Ducommun in the 2nd quarter valued at about $27,000. FMR LLC boosted its position in shares of Ducommun by 197.1% during the 3rd quarter. FMR LLC now owns 621 shares of the aerospace company’s stock worth $27,000 after acquiring an additional 412 shares in the last quarter. Lazard Asset Management LLC acquired a new stake in Ducommun in the first quarter valued at approximately $34,000. Covestor Ltd boosted its position in Ducommun by 45.5% in the second quarter. Covestor Ltd now owns 809 shares of the aerospace company’s stock valued at $35,000 after buying an additional 253 shares in the last quarter. Finally, Tower Research Capital LLC TRC raised its stake in shares of Ducommun by 116.9% during the first quarter. Tower Research Capital LLC TRC now owns 655 shares of the aerospace company’s stock valued at $36,000 after acquiring an additional 353 shares during the last quarter. 85.89% of the stock is owned by institutional investors and hedge funds.
Ducommun Price Performance
The company’s 50 day moving average price is $50.75 and its 200-day moving average price is $47.89. The stock has a market cap of $716.86 million, a P/E ratio of 35.34 and a beta of 1.30. The company has a quick ratio of 1.80, a current ratio of 2.93 and a debt-to-equity ratio of 0.42.
About Ducommun
Ducommun Incorporated provides engineering and manufacturing products and services primarily to 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; higher-level 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.