Ducommun (NYSE:DCO) Shares Gap Down - Here's Why

Shares of Ducommun Incorporated (NYSE:DCO - Get Free Report) 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 traded.

Analyst Upgrades and Downgrades

Several research firms have issued reports on DCO. Royal Bank of Canada began 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. Truist Financial raised their target price on Ducommun from $80.00 to $82.00 and gave the stock a "buy" rating in a research note on Tuesday, January 14th. Finally, StockNews.com cut Ducommun from a "strong-buy" rating to a "buy" rating in a research note on Friday.

Ducommun Price Performance

The company has a debt-to-equity ratio of 0.37, a current ratio of 3.21 and a quick ratio of 2.16. The stock has a 50 day moving average price of $64.89 and a two-hundred day moving average price of $64.59. The firm has a market capitalization of $854.52 million, a price-to-earnings ratio of 29.06 and a beta of 1.40.

Insider Activity

In other news, Director Robert C. Ducommun sold 1,000 shares of Ducommun stock in a transaction on Thursday, December 5th. The stock was sold at an average price of $69.50, for a total value of $69,500.00. Following the completion of the sale, the director now directly owns 409,900 shares of the company's stock, valued at approximately $28,488,050. The trade was a 0.24 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders own 8.80% of the company's stock.

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Institutional Investors Weigh In On Ducommun

A number of institutional investors have recently modified their holdings of DCO. Van ECK Associates Corp grew its stake in Ducommun by 44.5% during the 3rd quarter. Van ECK Associates Corp now owns 6,616 shares of the aerospace company's stock worth $411,000 after purchasing an additional 2,038 shares in the last quarter. Diamond Hill Capital Management Inc. grew its stake in Ducommun by 15.7% during the 3rd quarter. Diamond Hill Capital Management Inc. now owns 130,384 shares of the aerospace company's stock worth $8,583,000 after purchasing an additional 17,720 shares in the last quarter. GSA Capital Partners LLP grew its stake in Ducommun by 14.3% during the 3rd quarter. GSA Capital Partners LLP now owns 20,598 shares of the aerospace company's stock worth $1,356,000 after purchasing an additional 2,570 shares in the last quarter. Victory Capital Management Inc. grew its stake in Ducommun by 1.6% during the 3rd quarter. Victory Capital Management Inc. now owns 18,900 shares of the aerospace company's stock worth $1,244,000 after purchasing an additional 300 shares in the last quarter. Finally, Pathstone Holdings LLC grew its stake in Ducommun by 1.1% during the 3rd quarter. Pathstone Holdings LLC now owns 28,375 shares of the aerospace company's stock worth $1,868,000 after purchasing an additional 319 shares in the last quarter. 92.15% of the stock is owned by institutional investors and hedge funds.

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.