Ducommun (NYSE:DCO) Hits New 1-Year High – Here’s Why

Shares of Ducommun Incorporated (NYSE:DCO) hit a new 52-week high on Wednesday . The company traded as high as $147.90 and last traded at $144.9770, with a volume of 6060 shares trading hands. The stock had previously closed at $142.56.

Analysts Set New Price Targets

DCO has been the subject of a number of research analyst reports. Citigroup decreased their price target on Ducommun from $143.00 to $141.00 and set a “buy” rating for the company in a research note on Thursday, April 2nd. Royal Bank Of Canada raised their target price on Ducommun from $142.00 to $150.00 and gave the stock an “outperform” rating in a report on Friday, March 13th. The Goldman Sachs Group raised their price objective on Ducommun from $134.00 to $151.00 and gave the company a “buy” rating in a report on Monday, April 20th. Truist Financial raised Ducommun to a “strong-buy” rating in a report on Friday, May 1st. Finally, B. Riley Financial reaffirmed a “buy” rating on shares of Ducommun in a research note on Wednesday, January 28th. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $144.50.

Ducommun Price Performance

The company has a 50 day moving average of $131.63 and a 200 day moving average of $112.04. The stock has a market capitalization of $2.19 billion, a price-to-earnings ratio of -63.37 and a beta of 1.06. The company has a debt-to-equity ratio of 0.45, a quick ratio of 2.47 and a current ratio of 3.50.

Ducommun (NYSE:DCO) last released its quarterly earnings data on Thursday, February 26th. The aerospace company reported $1.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.91 by $0.14. Ducommun had a positive return on equity of 8.47% and a negative net margin of 4.11%.The business had revenue of $215.80 million during the quarter, compared to analysts’ expectations of $217.42 million. During the same period in the prior year, the firm posted $0.75 EPS. The business’s quarterly revenue was up 9.4% compared to the same quarter last year. As a group, equities research analysts anticipate that Ducommun Incorporated will post 4.1 EPS for the current year.

Insider Activity

In related news, Director Richard A. Baldridge sold 10,440 shares of Ducommun stock in a transaction on Tuesday, March 10th. The stock was sold at an average price of $130.83, for a total transaction of $1,365,865.20. Following the completion of the transaction, the director directly owned 20,100 shares of the company’s stock, valued at approximately $2,629,683. The trade was a 34.18% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Company insiders own 5.00% of the company’s stock.

Institutional Investors Weigh In On Ducommun

Several hedge funds have recently made changes to their positions in the business. Wealth Enhancement Advisory Services LLC boosted its holdings in shares of Ducommun by 16.4% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 759 shares of the aerospace company’s stock worth $72,000 after purchasing an additional 107 shares during the last quarter. Envestnet Asset Management Inc. increased its holdings in Ducommun by 3.8% during the 3rd quarter. Envestnet Asset Management Inc. now owns 3,236 shares of the aerospace company’s stock worth $311,000 after purchasing an additional 117 shares during the last quarter. Ameriprise Financial Inc. grew its stake in Ducommun by 2.3% in the third quarter. Ameriprise Financial Inc. now owns 6,836 shares of the aerospace company’s stock worth $657,000 after purchasing an additional 153 shares in the last quarter. The Manufacturers Life Insurance Company grew its stake in Ducommun by 3.2% in the second quarter. The Manufacturers Life Insurance Company now owns 5,014 shares of the aerospace company’s stock worth $414,000 after purchasing an additional 155 shares in the last quarter. Finally, ProShare Advisors LLC boosted its stake in Ducommun by 6.9% in the fourth quarter. ProShare Advisors LLC now owns 2,523 shares of the aerospace company’s stock valued at $240,000 after acquiring an additional 163 shares during the period. Institutional investors and hedge funds own 92.15% of the company’s stock.

Ducommun Company Profile

Ducommun Incorporated, through its Electronics and Structures segments, provides engineered products and integrated systems for the global aerospace, defense and space markets. The Electronics segment focuses on high-reliability electronic assemblies, cable and wire harnesses, connector systems and harsh environment electronics for flight-critical applications. In the Structures segment, Ducommun manufactures complex metallic and composite components such as flight control surfaces, skin panels, heat exchangers and other aerostructures for commercial and military platforms.

Founded in 1849 in California as a hardware and stagecoach parts supplier, Ducommun expanded into aerospace manufacturing during World War II and has since grown its capabilities through targeted acquisitions and organic investments.