Ducommun (NYSE:DCO) Reaches New 1-Year High – Time to Buy?

Ducommun Incorporated (NYSE:DCO) hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $143.33 and last traded at $141.6410, with a volume of 30670 shares changing hands. The stock had previously closed at $134.40.

Analysts Set New Price Targets

Several brokerages have issued reports on DCO. Citigroup reduced their price target on shares of Ducommun from $143.00 to $141.00 and set a “buy” rating on the stock in a report on Thursday, April 2nd. Royal Bank Of Canada upped their price objective on shares of Ducommun from $142.00 to $150.00 and gave the company an “outperform” rating in a research note on Friday, March 13th. B. Riley Financial reissued a “buy” rating on shares of Ducommun in a research note on Wednesday, January 28th. Truist Financial upped their price objective on shares of Ducommun from $124.00 to $136.00 and gave the company a “buy” rating in a research note on Friday, February 27th. Finally, Weiss Ratings reissued a “hold (c-)” rating on shares of Ducommun in a research note on Monday, December 29th. Five equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat.com, Ducommun currently has a consensus rating of “Moderate Buy” and an average price target of $139.75.

Ducommun Stock Performance

The stock’s 50 day simple moving average is $125.50 and its two-hundred day simple moving average is $106.68. The company has a market cap of $2.11 billion, a PE ratio of -60.93 and a beta of 1.00. The company has a quick ratio of 2.47, a current ratio of 3.50 and a debt-to-equity ratio of 0.45.

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 negative net margin of 4.11% and a positive return on equity of 8.47%. The company had revenue of $215.80 million during the quarter, compared to analyst estimates of $217.42 million. During the same quarter in the prior year, the business earned $0.75 earnings per share. The business’s quarterly revenue was up 9.4% compared to the same quarter last year. As a group, research analysts anticipate that Ducommun Incorporated will post 3.21 earnings per share for the current year.

Insider Activity

In other news, Director Richard A. Baldridge sold 10,440 shares of the 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 sale, the director owned 20,100 shares of the company’s stock, valued at $2,629,683. This represents a 34.18% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 5.00% of the stock is owned by insiders.

Institutional Investors Weigh In On Ducommun

Several large investors have recently made changes to their positions in the business. Wealth Enhancement Advisory Services LLC grew its holdings in Ducommun by 16.4% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 759 shares of the aerospace company’s stock valued at $72,000 after purchasing an additional 107 shares in the last quarter. Envestnet Asset Management Inc. grew 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 valued at $311,000 after purchasing an additional 117 shares in the last quarter. Ameriprise Financial Inc. grew its holdings in Ducommun by 2.3% during the 3rd quarter. Ameriprise Financial Inc. now owns 6,836 shares of the aerospace company’s stock valued at $657,000 after purchasing an additional 153 shares in the last quarter. The Manufacturers Life Insurance Company grew its holdings in Ducommun by 3.2% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 5,014 shares of the aerospace company’s stock valued at $414,000 after purchasing an additional 155 shares in the last quarter. Finally, ProShare Advisors LLC grew its holdings in Ducommun by 6.9% during the 4th quarter. ProShare Advisors LLC now owns 2,523 shares of the aerospace company’s stock valued at $240,000 after purchasing an additional 163 shares in the last quarter. 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.