Ducommun (NYSE:DCO) Hits New 1-Year High - Here's What Happened

Key Points

• Ducommun's stock price reached a new 52-week high of $92.64, closing at $92.43 with a trading volume of 88,554 shares.
• Analysts have upgraded their target prices for Ducommun, with a consensus rating of "Buy" and an average price target of $96.25, reflecting confidence in the company's performance.
• The company's latest earnings report showed an EPS of $0.83, exceeding estimates, with a revenue increase of 1.7% year-over-year.

Ducommun Incorporated (NYSE:DCO - Get Free Report) shares hit a new 52-week high on Monday . The company traded as high as $92.64 and last traded at $92.43, with a volume of 88554 shares trading hands. The stock had previously closed at $89.58.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the company. Royal Bank Of Canada raised their target price on Ducommun from $72.00 to $95.00 and gave the company an "outperform" rating in a report on Thursday, July 3rd. Truist Financial raised their price objective on shares of Ducommun from $87.00 to $95.00 and gave the company a "buy" rating in a research note on Friday, July 11th. The Goldman Sachs Group lifted their price objective on shares of Ducommun from $84.00 to $94.00 and gave the company a "buy" rating in a report on Monday, June 23rd. Wall Street Zen lowered shares of Ducommun from a "strong-buy" rating to a "buy" rating in a report on Saturday, August 2nd. Finally, B. Riley reaffirmed a "buy" rating on shares of Ducommun in a research report on Wednesday, May 7th. Six analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company presently has an average rating of "Buy" and a consensus price target of $96.25.

Ducommun Price Performance

The stock has a fifty day simple moving average of $83.42 and a 200-day simple moving average of $69.17. The company has a market capitalization of $1.33 billion, a PE ratio of 38.28 and a beta of 1.38. The company has a current ratio of 3.34, a quick ratio of 2.20 and a debt-to-equity ratio of 0.33.

Ducommun (NYSE:DCO - Get Free Report) last posted its earnings results on Thursday, August 7th. The aerospace company reported $0.88 earnings per share for the quarter, topping the consensus estimate of $0.80 by $0.08. The firm had revenue of $202.26 million during the quarter, compared to analysts' expectations of $199.29 million. Ducommun had a return on equity of 7.61% and a net margin of 4.45%. The firm's revenue was up 2.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.52 earnings per share. Equities analysts anticipate that Ducommun Incorporated will post 3.21 earnings per share for the current year.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of DCO. Sterling Capital Management LLC lifted its position in Ducommun by 804.2% in the fourth quarter. Sterling Capital Management LLC now owns 434 shares of the aerospace company's stock valued at $28,000 after acquiring an additional 386 shares during the last quarter. CWM LLC lifted its holdings in shares of Ducommun by 27.7% in the 2nd quarter. CWM LLC now owns 687 shares of the aerospace company's stock valued at $57,000 after purchasing an additional 149 shares during the last quarter. Virtus Fund Advisers LLC acquired a new stake in shares of Ducommun in the 4th quarter valued at about $78,000. Central Pacific Bank Trust Division boosted its position in shares of Ducommun by 200.0% in the 1st quarter. Central Pacific Bank Trust Division now owns 1,500 shares of the aerospace company's stock valued at $87,000 after purchasing an additional 1,000 shares during the period. Finally, Parvin Asset Management LLC purchased a new position in Ducommun during the 4th quarter worth approximately $98,000. Institutional investors and hedge funds 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.