Ducommun Incorporated (NYSE:DCO) Sees Significant Growth in Short Interest

Ducommun Incorporated (NYSE:DCO) saw a large growth in short interest in the month of October. As of October 15th, there was short interest totaling 380,300 shares, a growth of 47.3% from the September 30th total of 258,100 shares. Currently, 2.8% of the company’s shares are sold short. Based on an average daily volume of 125,900 shares, the days-to-cover ratio is currently 3.0 days. Based on an average daily volume of 125,900 shares, the days-to-cover ratio is currently 3.0 days. Currently, 2.8% of the company’s shares are sold short.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on DCO. Royal Bank Of Canada lifted their price target on Ducommun from $95.00 to $100.00 and gave the company an “outperform” rating in a report on Friday, August 8th. Citigroup reaffirmed a “buy” rating and issued a $101.00 price target (up previously from $91.00) on shares of Ducommun in a report on Monday, July 14th. Zacks Research raised Ducommun to a “hold” rating in a research report on Monday, August 11th. Weiss Ratings reissued a “buy (b-)” rating on shares of Ducommun in a report on Wednesday, October 8th. Finally, Truist Financial boosted their price objective on Ducommun from $87.00 to $95.00 and gave the company a “buy” rating in a report on Friday, July 11th. Six research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $97.50.

Institutional Investors Weigh In On Ducommun

Large investors have recently bought and sold shares of the stock. Teacher Retirement System of Texas grew its stake in Ducommun by 49.2% during the 1st quarter. Teacher Retirement System of Texas now owns 74,576 shares of the aerospace company’s stock worth $4,328,000 after buying an additional 24,585 shares during the last quarter. Arizona State Retirement System raised its position in Ducommun by 4.8% during the 1st quarter. Arizona State Retirement System now owns 3,815 shares of the aerospace company’s stock worth $221,000 after buying an additional 176 shares during the last quarter. New York State Common Retirement Fund raised its holdings in Ducommun by 25.0% during the first quarter. New York State Common Retirement Fund now owns 20,012 shares of the aerospace company’s stock worth $1,161,000 after purchasing an additional 3,998 shares in the last quarter. MQS Management LLC purchased a new stake in Ducommun in the 1st quarter valued at approximately $400,000. Finally, AMH Equity Ltd acquired a new position in Ducommun during the first quarter worth $1,567,000. Hedge funds and other institutional investors own 92.15% of the company’s stock.

Ducommun Price Performance

DCO stock opened at $91.59 on Monday. Ducommun has a 52-week low of $51.76 and a 52-week high of $101.47. The business has a fifty day moving average of $93.65 and a two-hundred day moving average of $83.08. The stock has a market cap of $1.37 billion, a price-to-earnings ratio of 34.82 and a beta of 1.38. The company has a quick ratio of 2.17, a current ratio of 3.24 and a debt-to-equity ratio of 0.31.

Ducommun (NYSE:DCO) last announced its quarterly earnings results on Thursday, August 7th. The aerospace company reported $0.88 EPS for the quarter, beating the consensus estimate of $0.80 by $0.08. Ducommun had a return on equity of 7.61% and a net margin of 5.03%.The business had revenue of $202.26 million for the quarter, compared to analyst estimates of $199.29 million. During the same quarter in the prior year, the company posted $0.52 EPS. The company’s quarterly revenue was up 2.7% on a year-over-year basis. As a group, research analysts anticipate that Ducommun will post 3.21 earnings per share for the current year.

Ducommun Company Profile

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.