Ducommun (NYSE:DCO) Hits New 12-Month High - Time to Buy?

Key Points

• Ducommun hit a new 52-week high, trading as high as $187.07 as investors continued to bid up the aerospace stock. The shares were last seen near $184.69, well above recent moving averages.
• Wall Street sentiment remains constructive, with several analysts raising price targets and multiple firms maintaining Buy ratings. The stock now carries an average rating of Moderate Buy and an average price target of $162.00.
• The company posted better-than-expected quarterly results, including EPS of $0.75 versus $0.68 expected and revenue of $209.02 million, up 7.7% year over year. Ducommun also reported a solid balance sheet, with a quick ratio of 2.59 and current ratio of 3.67.

Ducommun Incorporated (NYSE:DCO - Get Free Report) reached a new 52-week high on Wednesday . The company traded as high as $187.07 and last traded at $184.6870, with a volume of 282417 shares. The stock had previously closed at $184.42.

Analysts Set New Price Targets

Several research analysts have recently issued reports on DCO shares. B. Riley Financial upped their price target on shares of Ducommun from $155.00 to $187.00 and gave the stock a "buy" rating in a report on Wednesday, May 13th. Citigroup raised their price objective on Ducommun from $141.00 to $167.00 and gave the company a "buy" rating in a report on Monday, May 18th. The Goldman Sachs Group boosted their price objective on Ducommun from $134.00 to $151.00 and gave the stock a "buy" rating in a research report on Monday, April 20th. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Ducommun in a report on Wednesday, June 24th. Finally, Wall Street Zen upgraded Ducommun from a "hold" rating to a "buy" rating in a research report on Saturday, June 13th. Five research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, Ducommun currently has an average rating of "Moderate Buy" and an average price target of $162.00.

Ducommun Price Performance

The company has a debt-to-equity ratio of 0.44, a quick ratio of 2.59 and a current ratio of 3.67. The business has a 50 day moving average price of $151.83 and a 200-day moving average price of $129.67. The company has a market capitalization of $2.79 billion, a price-to-earnings ratio of -78.26 and a beta of 1.06.

Ducommun (NYSE:DCO - Get Free Report) last released its earnings results on Tuesday, May 12th. The aerospace company reported $0.75 EPS for the quarter, topping the consensus estimate of $0.68 by $0.07. The business had revenue of $209.02 million during the quarter, compared to analysts' expectations 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 was up 7.7% on a year-over-year basis. During the same quarter last year, the firm posted $0.83 earnings per share. Research analysts predict that Ducommun Incorporated will post 4.07 EPS for the current fiscal year.

Insider Activity at Ducommun

In related news, VP Rajiv A. Tata sold 1,612 shares of the stock in a transaction on Wednesday, May 20th. The shares were sold at an average price of $145.00, for a total transaction of $233,740.00. Following the transaction, 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 ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Jerry L. Redondo sold 5,682 shares of the firm's stock in a transaction on Thursday, May 14th. The stock was 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. The trade was a 8.39% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 7,883 shares of company stock worth $1,200,336 in the last quarter. Company insiders own 5.00% of the company's stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Optiver Holding B.V. acquired a new stake in Ducommun in the first quarter valued at approximately $27,000. Bank of America Corp DE raised its position in shares of Ducommun by 18.5% during the first quarter. Bank of America Corp DE now owns 50,637 shares of the aerospace company's stock worth $6,178,000 after purchasing an additional 7,922 shares during the period. Parvin Asset Management LLC raised its position in shares of Ducommun by 8.9% during the first quarter. Parvin Asset Management LLC now owns 1,340 shares of the aerospace company's stock worth $163,000 after purchasing an additional 110 shares during the period. California State Teachers Retirement System lifted its holdings in shares of Ducommun by 32.6% in the 1st quarter. California State Teachers Retirement System now owns 17,985 shares of the aerospace company's stock worth $2,194,000 after purchasing an additional 4,419 shares in the last quarter. Finally, Quantinno Capital Management LP lifted its holdings in shares of Ducommun by 10.6% in the 1st quarter. Quantinno Capital Management LP now owns 5,019 shares of the aerospace company's stock worth $612,000 after purchasing an additional 481 shares in the last quarter. Institutional investors own 92.15% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.