Ducommun (NYSE:DCO) Hits New 12-Month High – Still a Buy?

Ducommun Incorporated (NYSE:DCO)’s share price hit a new 52-week high during trading on Thursday . The company traded as high as $169.80 and last traded at $170.00, with a volume of 7732 shares changing hands. The stock had previously closed at $165.31.

Analysts Set New Price Targets

DCO has been the topic of several research reports. Royal Bank Of Canada upped their price objective on shares of Ducommun from $150.00 to $155.00 and gave the stock an “outperform” rating in a report on Wednesday, May 13th. Wall Street Zen upgraded shares of Ducommun from a “hold” rating to a “buy” rating in a report on Saturday, June 13th. Weiss Ratings reissued a “hold (c)” rating on shares of Ducommun in a research report on Wednesday. Truist Financial boosted their price target on shares of Ducommun from $136.00 to $150.00 and gave the company a “buy” rating in a research report on Tuesday, May 26th. Finally, B. Riley Financial upped their target price on shares of Ducommun from $155.00 to $187.00 and gave the stock a “buy” rating in a research report on Wednesday, May 13th. Five analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Ducommun presently has a consensus rating of “Moderate Buy” and an average target price of $162.00.

Ducommun Stock Up 3.7%

The company has a quick ratio of 2.59, a current ratio of 3.67 and a debt-to-equity ratio of 0.44. The company has a market cap of $2.67 billion, a PE ratio of -74.90 and a beta of 1.06. The business has a 50-day simple moving average of $149.95 and a 200-day simple moving average of $128.10.

Ducommun (NYSE:DCO) last released its earnings results on Tuesday, May 12th. The aerospace company reported $0.75 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.68 by $0.07. The business had revenue of $209.02 million during the quarter, compared to analyst estimates of $199.61 million. Ducommun had a negative net margin of 4.11% and a positive return on equity of 8.41%. The company’s revenue for the quarter was up 7.7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.83 earnings per share. Equities research analysts anticipate that Ducommun Incorporated will post 4.07 EPS for the current year.

Insider Activity at Ducommun

In related news, VP Laureen S. Gonzalez sold 589 shares of the stock in a transaction dated Thursday, May 28th. The shares were sold at an average price of $151.99, for a total value of $89,522.11. Following the sale, the vice president directly owned 11,172 shares of the company’s stock, valued at approximately $1,698,032.28. This represents a 5.01% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Jerry L. Redondo sold 5,682 shares of Ducommun stock in a transaction dated Thursday, May 14th. The stock was sold at an average price of $154.36, for a total transaction of $877,073.52. Following the sale, the vice president owned 62,034 shares of the company’s stock, valued at approximately $9,575,568.24. This trade represents a 8.39% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 7,883 shares of company stock worth $1,200,336 in the last 90 days. 5.00% of the stock is owned by insiders.

Institutional Investors Weigh In On Ducommun

Hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. lifted its stake in shares of Ducommun by 2.3% in the fourth quarter. Vanguard Group Inc. now owns 842,368 shares of the aerospace company’s stock worth $80,134,000 after acquiring an additional 19,143 shares in the last quarter. State Street Corp increased its stake in shares of Ducommun by 10.4% in the fourth quarter. State Street Corp now owns 670,966 shares of the aerospace company’s stock worth $63,829,000 after buying an additional 63,070 shares during the last quarter. Geode Capital Management LLC grew its holdings in Ducommun by 1.8% during the 4th quarter. Geode Capital Management LLC now owns 333,371 shares of the aerospace company’s stock worth $31,720,000 after acquiring an additional 5,899 shares in the last quarter. GW&K Investment Management LLC lifted its position in shares of Ducommun by 2.0% during the fourth quarter. GW&K Investment Management LLC now owns 319,772 shares of the aerospace company’s stock worth $30,420,000 after purchasing an additional 6,192 shares during the last quarter. Finally, Alliancebernstein L.P. raised its stake in Ducommun by 5.4% during the third quarter. Alliancebernstein L.P. now owns 319,470 shares of the aerospace company’s stock valued at $30,711,000 after buying an additional 16,501 shares in the last quarter. 92.15% of the stock is currently owned by hedge funds and other institutional investors.

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.