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

Ducommun Incorporated (NYSE:DCO)’s share price hit a new 52-week high during trading on Tuesday . The company traded as high as $156.38 and last traded at $155.6630, with a volume of 249096 shares changing hands. The stock had previously closed at $150.04.

Analyst Ratings Changes

DCO has been the subject of a number of research analyst reports. Royal Bank Of Canada increased their target price on Ducommun from $150.00 to $155.00 and gave the company an “outperform” rating in a report on Wednesday, May 13th. The Goldman Sachs Group upped their price target on Ducommun from $134.00 to $151.00 and gave the company a “buy” rating in a research report on Monday, April 20th. Wall Street Zen lowered Ducommun from a “buy” rating to a “hold” rating in a research report on Monday, May 25th. Truist Financial upped their price target on 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 price target on Ducommun from $155.00 to $187.00 and gave the company a “buy” rating in a research report on Wednesday, May 13th. Five investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $162.00.

Ducommun Stock Up 7.1%

The company has a market capitalization of $2.49 billion, a PE ratio of -69.84 and a beta of 1.06. 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 firm has a 50-day moving average of $142.40 and a two-hundred day moving average of $121.95.

Ducommun (NYSE:DCO) last issued its quarterly earnings data on Tuesday, May 12th. The aerospace company reported $0.75 earnings per share for the quarter, topping the consensus estimate of $0.68 by $0.07. The company 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 8.41% and a negative net margin of 4.11%.The firm’s revenue for the quarter was up 7.7% compared to the same quarter last year. During the same period in the prior year, the business posted $0.83 earnings per share. Equities research analysts predict that Ducommun Incorporated will post 4.07 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, VP Jerry L. Redondo sold 5,682 shares of the stock in a transaction that occurred on Thursday, May 14th. The stock was sold at an average price of $154.36, for a total value of $877,073.52. Following the completion of the transaction, the vice president directly owned 62,034 shares in the company, valued at approximately $9,575,568.24. This represents a 8.39% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, VP Rajiv A. Tata sold 1,612 shares of the stock in a transaction that occurred on Wednesday, May 20th. The stock was sold at an average price of $145.00, for a total value of $233,740.00. Following the completion of the transaction, the vice president owned 33,171 shares of the company’s stock, valued at $4,809,795. The trade was a 4.63% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 7,883 shares of company stock worth $1,200,336. Company insiders own 5.00% of the company’s stock.

Institutional Inflows and Outflows

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

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.