Ducommun (NYSE:DCO) Reaches New 12-Month High on Better-Than-Expected Earnings

Ducommun Incorporated (NYSE:DCO)’s stock price reached a new 52-week high during trading on Wednesday following a better than expected earnings announcement. The stock 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, beating the consensus estimate of $0.68 by $0.07. Ducommun had a negative net margin of 4.11% and a positive return on equity of 8.47%. The company had revenue of $209.02 million during the quarter, compared to analyst estimates of $199.61 million. During the same period in the previous year, the business posted $0.83 earnings per share. The firm’s quarterly revenue was up 7.7% compared to the same quarter last year.

Analysts Set New Price Targets

DCO has been the topic of a number of recent research reports. Citigroup decreased 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. B. Riley Financial restated a “buy” rating on shares of Ducommun in a research report on Wednesday, January 28th. Truist Financial raised Ducommun to a “strong-buy” rating in a research note on Friday, May 1st. Wall Street Zen cut Ducommun from a “buy” rating to a “hold” rating in a research report on Saturday. Finally, The Goldman Sachs Group boosted their price objective on Ducommun from $134.00 to $151.00 and gave the company a “buy” rating in a research note on Monday, April 20th. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $144.50.

Insider Buying and Selling at Ducommun

In related news, Director Richard A. Baldridge sold 10,440 shares of the company’s stock in a transaction on Tuesday, March 10th. The shares were sold at an average price of $130.83, for a total value of $1,365,865.20. Following the completion of the transaction, the director owned 20,100 shares of the company’s stock, valued at approximately $2,629,683. This represents a 34.18% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 5.00% of the company’s stock.

Institutional Investors Weigh In On Ducommun

A number of institutional investors and hedge funds have recently bought and sold shares of DCO. Vanguard Group Inc. boosted 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 during the period. State Street Corp boosted its stake in Ducommun by 10.4% in the 4th quarter. State Street Corp now owns 670,966 shares of the aerospace company’s stock worth $63,829,000 after purchasing an additional 63,070 shares during the period. 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 valued at $31,720,000 after buying an additional 5,899 shares in the last quarter. GW&K Investment Management LLC raised 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 valued at $30,420,000 after buying an additional 6,192 shares during the last quarter. Finally, Alliancebernstein L.P. raised its position in shares of 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 during the last quarter. 92.15% of the stock is owned by institutional investors.

Ducommun Price Performance

The company has a quick ratio of 2.47, a current ratio of 3.50 and a debt-to-equity ratio of 0.45. The firm’s fifty day moving average price is $133.32 and its 200 day moving average price is $113.70. The stock has a market cap of $2.25 billion, a PE ratio of -64.45 and a beta of 1.06.

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.