Ducommun (NYSE:DCO) Reaches New 52-Week High - Here's What Happened

Key Points

• Ducommun Incorporated reached a new 52-week high of $93.51 during trading, with positive trading volume of 46,513 shares.
• Several analysts have raised their price targets for Ducommun, with Royal Bank of Canada setting it at $100.00 and a consensus target price of $97.50 among research analysts.
• The company reported $0.88 earnings per share for the last quarter, surpassing analysts' expectations and showing a revenue increase of 2.7% year-over-year.

Ducommun Incorporated (NYSE:DCO - Get Free Report) reached a new 52-week high during trading on Wednesday . The stock traded as high as $93.43 and last traded at $93.51, with a volume of 46513 shares. The stock had previously closed at $92.54.

Analysts Set New Price Targets

Several research analysts have issued reports on the company. Royal Bank Of Canada increased their price target on Ducommun from $95.00 to $100.00 and gave the stock an "outperform" rating in a report on Friday, August 8th. B. Riley restated a "buy" rating on shares of Ducommun in a report on Wednesday, May 7th. Truist Financial raised their target price on Ducommun from $87.00 to $95.00 and gave the company a "buy" rating in a report on Friday, July 11th. Wall Street Zen upgraded Ducommun from a "buy" rating to a "strong-buy" rating in a report on Sunday. Finally, The Goldman Sachs Group lifted their price target on Ducommun from $84.00 to $94.00 and gave the stock a "buy" rating in a report on Monday, June 23rd. Five equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Buy" and a consensus target price of $97.50.

Ducommun Stock Performance

The company has a debt-to-equity ratio of 0.31, a quick ratio of 2.17 and a current ratio of 3.24. The business has a 50 day moving average price of $84.61 and a two-hundred day moving average price of $69.61. The company has a market cap of $1.38 billion, a P/E ratio of 35.16 and a beta of 1.38.

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

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Bank of America Corp DE raised its holdings in Ducommun by 49.0% in the 4th quarter. Bank of America Corp DE now owns 63,120 shares of the aerospace company's stock worth $4,018,000 after purchasing an additional 20,763 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in Ducommun by 36.9% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 25,456 shares of the aerospace company's stock worth $1,621,000 after acquiring an additional 6,866 shares during the last quarter. GSA Capital Partners LLP boosted its position in shares of Ducommun by 40.6% during the first quarter. GSA Capital Partners LLP now owns 24,653 shares of the aerospace company's stock valued at $1,431,000 after buying an additional 7,123 shares during the period. Two Sigma Investments LP boosted its position in shares of Ducommun by 76.9% during the fourth quarter. Two Sigma Investments LP now owns 73,990 shares of the aerospace company's stock valued at $4,710,000 after buying an additional 32,156 shares during the period. Finally, Northern Trust Corp boosted its holdings in shares of Ducommun by 5.4% in the fourth quarter. Northern Trust Corp now owns 130,177 shares of the aerospace company's stock valued at $8,287,000 after purchasing an additional 6,649 shares during the period. Institutional investors own 92.15% of the company's stock.

Ducommun Company Profile

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.

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