Ducommun (NYSE:DCO) Reaches New 1-Year High Following Earnings Beat

Ducommun Incorporated (NYSE:DCO)’s share price reached a new 52-week high on Wednesday following a stronger than expected earnings report. The company traded as high as $150.54 and last traded at $148.3840, with a volume of 33086 shares changing hands. The stock had previously closed at $145.03.

The aerospace company reported $0.75 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.68 by $0.07. The firm had revenue of $209.02 million during the quarter, compared to analyst estimates of $199.61 million. Ducommun had a positive return on equity of 8.47% and a negative net margin of 4.11%.The business’s revenue was up 7.7% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.83 EPS.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the stock. Wall Street Zen downgraded Ducommun from a “buy” rating to a “hold” rating in a research note on Saturday. Citigroup dropped their target price on Ducommun from $143.00 to $141.00 and set a “buy” rating on the stock in a report on Thursday, April 2nd. Truist Financial upgraded Ducommun to a “strong-buy” rating in a report on Friday, May 1st. The Goldman Sachs Group lifted their price target on Ducommun from $134.00 to $151.00 and gave the stock a “buy” rating in a research report on Monday, April 20th. Finally, Royal Bank Of Canada increased their price objective on shares of Ducommun from $142.00 to $150.00 and gave the company an “outperform” rating in a research report on Friday, March 13th. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $144.50.

Insider Activity

In related news, Director Richard A. Baldridge sold 10,440 shares of the stock in a transaction that occurred on Tuesday, March 10th. The shares were sold at an average price of $130.83, for a total transaction of $1,365,865.20. Following the transaction, the director owned 20,100 shares in the company, valued at $2,629,683. This represents a 34.18% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 5.00% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Ducommun

A number of large investors have recently added to or reduced their stakes in DCO. AQR Capital Management LLC boosted its stake in shares of Ducommun by 14.5% in the 1st quarter. AQR Capital Management LLC now owns 83,479 shares of the aerospace company’s stock worth $4,844,000 after buying an additional 10,574 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in Ducommun by 4.1% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 8,050 shares of the aerospace company’s stock valued at $467,000 after acquiring an additional 319 shares during the last quarter. EverSource Wealth Advisors LLC lifted its holdings in Ducommun by 618.8% in the second quarter. EverSource Wealth Advisors LLC now owns 345 shares of the aerospace company’s stock valued at $29,000 after acquiring an additional 297 shares during the period. First Trust Advisors LP lifted its holdings in Ducommun by 10.0% in the second quarter. First Trust Advisors LP now owns 5,809 shares of the aerospace company’s stock valued at $480,000 after acquiring an additional 528 shares during the period. Finally, Marshall Wace LLP boosted its position in Ducommun by 7.9% in the second quarter. Marshall Wace LLP now owns 71,545 shares of the aerospace company’s stock worth $5,912,000 after purchasing an additional 5,212 shares during the last quarter. Institutional investors own 92.15% of the company’s stock.

Ducommun Trading Up 2.9%

The firm has a market capitalization of $2.25 billion, a P/E ratio of -64.45 and a beta of 1.06. The company has a current ratio of 3.50, a quick ratio of 2.47 and a debt-to-equity ratio of 0.45. The stock has a 50 day simple moving average of $133.32 and a 200-day simple moving average of $113.70.

About Ducommun

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.