Ducommun (NYSE:DCO) Hits New 52-Week High – Time to Buy?

Ducommun Incorporated (NYSE:DCO) shares hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $196.80 and last traded at $194.71, with a volume of 40078 shares traded. The stock had previously closed at $191.86.

Analyst Ratings Changes

Several research firms have recently issued reports on DCO. The Goldman Sachs Group boosted their target price on Ducommun from $134.00 to $151.00 and gave the stock a “buy” rating in a research report on Monday, April 20th. B. Riley Financial reissued a “buy” rating on shares of Ducommun in a research note on Friday. Royal Bank Of Canada cut shares of Ducommun from an “outperform” rating to a “sector perform” rating and boosted their price objective for the company from $155.00 to $175.00 in a report on Thursday, July 9th. Truist Financial upped their target price on shares of Ducommun from $136.00 to $150.00 and gave the company a “buy” rating in a research note on Tuesday, May 26th. Finally, Weiss Ratings lowered shares of Ducommun from a “hold (c)” rating to a “hold (c-)” rating in a report on Tuesday. Four analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat.com, Ducommun presently has an average rating of “Moderate Buy” and an average price target of $175.80.

Ducommun Trading Down 2.2%

The business has a 50 day simple moving average of $170.60 and a 200-day simple moving average of $144.60. The stock has a market capitalization of $2.97 billion, a price-to-earnings ratio of -83.38 and a beta of 1.04. The company has a debt-to-equity ratio of 0.44, a current ratio of 3.67 and a quick ratio of 2.59.

Ducommun (NYSE:DCO) last released its quarterly earnings results on Thursday, August 6th. The aerospace company reported $1.18 EPS for the quarter, topping analysts’ consensus estimates of $0.98 by $0.20. Ducommun had a positive return on equity of 8.41% and a negative net margin of 4.11%.The company had revenue of $224.49 million for the quarter, compared to analyst estimates of $214.32 million. During the same quarter last year, the firm posted $0.88 earnings per share. Ducommun’s revenue was up 11.0% compared to the same quarter last year. As a group, equities analysts expect that Ducommun Incorporated will post 4.07 earnings per share for the current year.

Insiders Place Their Bets

In other news, VP Jerry L. Redondo sold 5,682 shares of the stock in a transaction on Thursday, May 14th. The shares were sold at an average price of $154.36, for a total transaction of $877,073.52. Following the completion of the sale, the vice president owned 62,034 shares of the company’s stock, valued at $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 Securities & Exchange Commission, which is available at this hyperlink. 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 on Wednesday, May 20th. The stock was sold at an average price of $145.00, for a total transaction of $233,740.00. Following the sale, the vice president directly owned 33,171 shares of the company’s stock, valued at $4,809,795. This represents a 4.63% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 7,883 shares of company stock worth $1,200,336. Company insiders own 5.00% of the company’s stock.

Hedge Funds Weigh In On Ducommun

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. AQR Capital Management LLC raised its stake in shares of Ducommun by 14.5% in the 1st quarter. AQR Capital Management LLC now owns 83,479 shares of the aerospace company’s stock valued at $4,844,000 after purchasing an additional 10,574 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of Ducommun by 4.1% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 8,050 shares of the aerospace company’s stock worth $467,000 after buying an additional 319 shares during the period. EverSource Wealth Advisors LLC boosted its position in shares of Ducommun by 618.8% during the second quarter. EverSource Wealth Advisors LLC now owns 345 shares of the aerospace company’s stock worth $29,000 after buying an additional 297 shares during the period. First Trust Advisors LP grew its holdings in shares of Ducommun by 10.0% during the second quarter. First Trust Advisors LP now owns 5,809 shares of the aerospace company’s stock worth $480,000 after buying an additional 528 shares in the last quarter. Finally, Marshall Wace LLP grew its holdings in shares of Ducommun by 7.9% during the second quarter. Marshall Wace LLP now owns 71,545 shares of the aerospace company’s stock worth $5,912,000 after buying an additional 5,212 shares in the last quarter. 92.15% of the stock is owned by institutional investors and hedge funds.

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.