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

Key Points

• Ducommun Incorporated recently reached a new 52-week high of $95.00, closing at $90.18 with significant trading activity.
• Multiple brokerage firms have upgraded Ducommun's stock ratings, with Goldman Sachs and Truist Financial boosting their target prices to $94.00 and $95.00, respectively.
• Ducommun reported an earnings per share (EPS) of $0.88 for the last quarter, surpassing analysts' expectations and showing a revenue growth of 2.7% year-over-year.

Ducommun Incorporated (NYSE:DCO - Get Free Report)'s share price reached a new 52-week high on Friday . The stock traded as high as $95.00 and last traded at $90.18, with a volume of 154 shares traded. The stock had previously closed at $89.34.

Analysts Set New Price Targets

A number of equities analysts have commented on the company. Truist Financial lifted their price target on Ducommun from $87.00 to $95.00 and gave the stock a "buy" rating in a research note on Friday, July 11th. Wall Street Zen upgraded shares of Ducommun from a "buy" rating to a "strong-buy" rating in a report on Sunday, August 10th. Citigroup reaffirmed a "buy" rating and set a $101.00 price target (up previously from $91.00) on shares of Ducommun in a research note on Monday, July 14th. Zacks Research raised shares of Ducommun to a "hold" rating in a research note on Monday, August 11th. Finally, The Goldman Sachs Group boosted their target price on shares of Ducommun from $84.00 to $94.00 and gave the stock a "buy" rating in a research note on Monday, June 23rd. Five equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $97.50.

Ducommun Stock Performance

The company has a quick ratio of 2.17, a current ratio of 3.24 and a debt-to-equity ratio of 0.31. The firm has a market capitalization of $1.39 billion, a P/E ratio of 35.33 and a beta of 1.38. The stock has a fifty day moving average of $87.84 and a 200-day moving average of $71.24.

Ducommun (NYSE:DCO - Get Free Report) last posted its quarterly earnings results on Thursday, August 7th. The aerospace company reported $0.88 earnings per share for the quarter, beating analysts' consensus estimates of $0.80 by $0.08. The company had revenue of $202.26 million for the quarter, compared to the consensus estimate of $199.29 million. Ducommun had a net margin of 5.03% and a return on equity of 7.61%. The firm's quarterly revenue was up 2.7% compared to the same quarter last year. During the same period last year, the company posted $0.52 EPS. On average, research analysts anticipate that Ducommun Incorporated will post 3.21 EPS for the current year.

Institutional Trading of Ducommun

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Alliancebernstein L.P. raised its stake in shares of Ducommun by 1,993.3% during the second quarter. Alliancebernstein L.P. now owns 302,969 shares of the aerospace company's stock worth $25,034,000 after acquiring an additional 288,496 shares in the last quarter. Ophir Asset Management Pty Ltd bought a new stake in Ducommun in the 2nd quarter worth about $22,151,000. Brown Advisory Inc. purchased a new position in Ducommun in the 2nd quarter worth about $17,025,000. Nuveen LLC purchased a new stake in shares of Ducommun during the 1st quarter valued at about $5,097,000. Finally, LPL Financial LLC bought a new stake in shares of Ducommun in the first quarter worth approximately $5,052,000. Hedge funds and other institutional investors own 92.15% of the company's stock.

About Ducommun

Ducommun Incorporated provides engineering and manufacturing services for products and applications used primarily in the aerospace and defense, industrial, medical, and other industries in the United States. The company operates through two segments, Electronic Systems and Structural Systems. The Electronic Systems segment provides cable assemblies and interconnect systems; printed circuit board assemblies; electronic, electromechanical, and mechanical components and assemblies, as well as lightning diversion systems; and radar enclosures, aircraft avionics racks, shipboard communications and control enclosures, printed circuit board assemblies, cable assemblies, wire harnesses, interconnect systems, lightning diversion strips, surge suppressors, conformal shields, and other assemblies.