Ducommun (NYSE:DCO) Shares Gap Down – Here’s What Happened

Ducommun Incorporated (NYSE:DCO) gapped down before the market opened on Thursday . The stock had previously closed at $61.36, but opened at $57.71. Ducommun shares last traded at $56.56, with a volume of 18,754 shares.

Analyst Upgrades and Downgrades

DCO has been the subject of several recent analyst reports. Royal Bank of Canada assumed coverage on Ducommun in a research note on Tuesday, December 31st. They set an “outperform” rating and a $72.00 target price for the company. StockNews.com raised shares of Ducommun from a “buy” rating to a “strong-buy” rating in a report on Tuesday, November 12th. Finally, Truist Financial increased their price objective on Ducommun from $80.00 to $82.00 and gave the company a “buy” rating in a report on Tuesday, January 14th.

Ducommun Trading Down 7.7 %

The firm’s 50-day moving average price is $65.03 and its 200-day moving average price is $64.65. 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 cap of $837.14 million, a P/E ratio of 28.41 and a beta of 1.40.

Ducommun (NYSE:DCO) last posted its earnings results on Thursday, February 27th. The aerospace company reported $0.75 EPS for the quarter, topping the consensus estimate of $0.70 by $0.05. Ducommun had a return on equity of 7.40% and a net margin of 3.82%. As a group, equities research analysts expect that Ducommun Incorporated will post 3.21 earnings per share for the current fiscal year.

Insider Activity

In related 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 transaction, the director now directly owns 409,900 shares of the company’s stock, valued at approximately $28,488,050. This trade represents a 0.24 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 8.80% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of DCO. Wellington Management Group LLP bought a new stake in shares of Ducommun in the 3rd quarter worth approximately $8,990,000. Gibson Capital LLC purchased a new position in Ducommun in the 4th quarter worth $6,763,000. Raymond James Financial Inc. bought a new stake in Ducommun in the fourth quarter worth $6,737,000. Kennedy Capital Management LLC boosted its position in Ducommun by 60.9% during the fourth quarter. Kennedy Capital Management LLC now owns 273,517 shares of the aerospace company’s stock valued at $17,412,000 after buying an additional 103,570 shares during the period. Finally, Oberweis Asset Management Inc. bought a new position in shares of Ducommun during the fourth quarter valued at about $6,092,000. 92.15% of the stock is currently owned by 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.