Ducommun (NYSE:DCO) Hits New 52-Week High on Analyst Upgrade

Ducommun Incorporated (NYSE:DCO)’s share price reached a new 52-week high on Monday after Truist Financial raised their price target on the stock from $124.00 to $136.00. Truist Financial currently has a buy rating on the stock. Ducommun traded as high as $131.31 and last traded at $130.1780, with a volume of 42573 shares trading hands. The stock had previously closed at $123.59.

A number of other analysts have also recently issued reports on the company. B. Riley Financial reissued a “buy” rating on shares of Ducommun in a report on Wednesday, January 28th. Citigroup upped their price target on shares of Ducommun from $110.00 to $125.00 and gave the stock a “buy” rating in a report on Tuesday, January 13th. Royal Bank Of Canada lifted their price objective on Ducommun from $100.00 to $142.00 and gave the company an “outperform” rating in a research note on Friday, February 20th. Zacks Research upgraded Ducommun from a “strong sell” rating to a “hold” rating in a research note on Monday, December 8th. Finally, The Goldman Sachs Group raised their price target on Ducommun from $117.00 to $132.00 and gave the company a “buy” rating in a report on Tuesday, January 20th. Five investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $133.75.

Insider Buying and Selling

In related news, VP Jerry L. Redondo sold 2,000 shares of the company’s stock in a transaction that occurred on Wednesday, December 10th. The stock was sold at an average price of $92.86, for a total transaction of $185,720.00. Following the completion of the transaction, the vice president owned 65,269 shares in the company, valued at $6,060,879.34. This represents a 2.97% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 8.90% of the stock is owned by insiders.

Hedge Funds Weigh In On Ducommun

A number of institutional investors have recently added to or reduced their stakes in DCO. Principal Financial Group Inc. bought a new position in shares of Ducommun during the third quarter valued at $1,163,000. SG Americas Securities LLC purchased a new position in shares of Ducommun in the 3rd quarter worth $849,000. Hennion & Walsh Asset Management Inc. lifted its stake in shares of Ducommun by 39.7% in the 3rd quarter. Hennion & Walsh Asset Management Inc. now owns 39,132 shares of the aerospace company’s stock worth $3,762,000 after purchasing an additional 11,130 shares during the period. Gamco Investors INC. ET AL boosted its stake in shares of Ducommun by 6.5% during the 2nd quarter. Gamco Investors INC. ET AL now owns 626,611 shares of the aerospace company’s stock worth $51,777,000 after acquiring an additional 38,333 shares during the last quarter. Finally, Geode Capital Management LLC lifted its position in Ducommun by 1.8% during the second quarter. Geode Capital Management LLC now owns 325,079 shares of the aerospace company’s stock valued at $26,865,000 after purchasing an additional 5,725 shares in the last quarter. Institutional investors own 92.15% of the company’s stock.

Ducommun Trading Up 5.3%

The stock has a market capitalization of $1.95 billion, a PE ratio of -56.35 and a beta of 1.03. The stock has a 50-day moving average price of $112.38 and a two-hundred day moving average price of $99.51. The company has a debt-to-equity ratio of 0.45, a quick ratio of 2.47 and a current ratio of 3.50.

Ducommun (NYSE:DCO) last issued its earnings results on Thursday, February 26th. The aerospace company reported $1.05 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.91 by $0.14. The company had revenue of $215.80 million for the quarter, compared to the consensus estimate of $217.42 million. Ducommun had a positive return on equity of 8.47% and a negative net margin of 4.11%.The firm’s quarterly revenue was up 9.4% on a year-over-year basis. During the same quarter last year, the company earned $0.75 EPS. As a group, equities analysts forecast that Ducommun Incorporated will post 3.21 earnings per share for the current year.

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.