Ducommun (NYSE:DCO) Hits New 12-Month High - Here's What Happened

Key Points

• Ducommun hit a new 52-week high, trading as high as $143.41 (last around $141.12) on Wednesday with about 27,354 shares changing hands.
• Analyst sentiment is broadly positive — five Buys and two Holds — with Goldman Sachs raising its target to $151 and an average price target of about $144.50.
• Fundamentals are mixed: Ducommun beat EPS expectations ($1.05 vs. $0.91) while revenue was slightly below estimates, the company has a negative net margin and a negative P/E (~-59.9), and an insider recently sold shares.

Ducommun Incorporated (NYSE:DCO - Get Free Report) reached a new 52-week high on Wednesday . The company traded as high as $143.41 and last traded at $141.1150, with a volume of 27354 shares. The stock had previously closed at $141.48.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on DCO shares. The Goldman Sachs Group upped their target price on Ducommun from $134.00 to $151.00 and gave the stock a "buy" rating in a research note on Monday. Royal Bank Of Canada increased their price objective on shares of Ducommun from $142.00 to $150.00 and gave the company an "outperform" rating in a report on Friday, March 13th. Citigroup cut their target price on shares of Ducommun from $143.00 to $141.00 and set a "buy" rating for the company in a research note on Thursday, April 2nd. Weiss Ratings reaffirmed a "hold (c-)" rating on shares of Ducommun in a research note on Monday, December 29th. Finally, Wall Street Zen upgraded Ducommun from a "hold" rating to a "buy" rating in a research note on Saturday. Five research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, Ducommun has an average rating of "Moderate Buy" and an average price target of $144.50.

Ducommun Price Performance

The stock's fifty day moving average price is $128.88 and its 200-day moving average price is $109.47. The firm has a market cap of $2.07 billion, a PE ratio of -59.92 and a beta of 1.00. The company has a debt-to-equity ratio of 0.45, a current ratio of 3.50 and a quick ratio of 2.47.

Ducommun (NYSE:DCO - Get Free Report) last posted its quarterly earnings results on Thursday, February 26th. The aerospace company reported $1.05 earnings per share 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 firm had revenue of $215.80 million for the quarter, compared to the consensus estimate of $217.42 million. During the same period last year, the firm posted $0.75 earnings per share. The company's revenue for the quarter was up 9.4% on a year-over-year basis. As a group, equities analysts expect that Ducommun Incorporated will post 4.1 EPS for the current fiscal year.

Insider Buying and Selling

In other Ducommun news, Director Richard A. Baldridge sold 10,440 shares of the business's stock in a transaction on Tuesday, March 10th. The stock was sold at an average price of $130.83, for a total transaction of $1,365,865.20. Following the transaction, the director owned 20,100 shares of the company's stock, valued at approximately $2,629,683. The trade was a 34.18% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 5.00% of the company's stock.

Hedge Funds Weigh In On Ducommun

A number of institutional investors have recently bought and sold shares of DCO. Cornerstone Planning Group LLC grew its stake in shares of Ducommun by 6,725.0% in the 3rd quarter. Cornerstone Planning Group LLC now owns 273 shares of the aerospace company's stock valued at $26,000 after buying an additional 269 shares during the period. EverSource Wealth Advisors LLC grew its position in Ducommun by 618.8% in the second quarter. EverSource Wealth Advisors LLC now owns 345 shares of the aerospace company's stock worth $29,000 after acquiring an additional 297 shares during the period. Financial Consulate Inc. acquired a new stake in Ducommun during the third quarter worth $48,000. Wealth Enhancement Advisory Services LLC purchased a new stake in Ducommun in the third quarter valued at $63,000. Finally, State of Alaska Department of Revenue acquired a new position in shares of Ducommun in the 3rd quarter valued at $79,000. 92.15% of the stock is owned by hedge funds and other institutional investors.

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.

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