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

Key Points

• Ducommun shares reached a new 52-week high of $196.80, closing above the prior session at $194.71 and bringing its market capitalization to approximately $2.89 billion.
• Analysts maintain a “Moderate Buy” consensus, with four Buy and three Hold ratings and an average price target of $175.80. Citigroup has the highest target at $216.
• The company beat quarterly expectations, reporting $0.75 in adjusted earnings per share versus a $0.68 estimate and revenue of $209.02 million, up 7.7% year over year. Insiders sold $1.2 million of stock over the past three months, while institutional investors own 92.15% of shares.

Ducommun Incorporated (NYSE:DCO - Get Free Report) hit a new 52-week high on Wednesday . The company traded as high as $196.80 and last traded at $194.71, with a volume of 40078 shares changing hands. The stock had previously closed at $191.86.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on DCO shares. Weiss Ratings upgraded Ducommun from a "hold (c-)" rating to a "hold (c)" rating in a research report on Tuesday, July 21st. B. Riley Financial lifted their target price on shares of Ducommun from $155.00 to $187.00 and gave the stock a "buy" rating in a research report on Wednesday, May 13th. Royal Bank Of Canada cut Ducommun from an "outperform" rating to a "sector perform" rating and lifted their price target for the stock from $155.00 to $175.00 in a research note on Thursday, July 9th. Truist Financial boosted their price objective on Ducommun from $136.00 to $150.00 and gave the company a "buy" rating in a research report on Tuesday, May 26th. Finally, Citigroup increased their price objective on Ducommun from $167.00 to $216.00 and gave the company a "buy" rating in a research note on Wednesday, July 1st. Four research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $175.80.

Ducommun Trading Down 0.1%

The firm has a market capitalization of $2.89 billion, a PE ratio of -81.18 and a beta of 1.04. The firm has a 50 day simple moving average of $168.75 and a 200 day simple moving average of $143.44. The company has a current ratio of 3.67, a quick ratio of 2.59 and a debt-to-equity ratio of 0.44.

Ducommun (NYSE:DCO - Get Free Report) last posted its quarterly earnings results on Tuesday, May 12th. The aerospace company reported $0.75 earnings per share for the quarter, topping the consensus estimate of $0.68 by $0.07. Ducommun had a positive return on equity of 8.41% and a negative net margin of 4.11%.The firm had revenue of $209.02 million during the quarter, compared to analysts' expectations of $199.61 million. During the same quarter in the previous year, the business earned $0.83 earnings per share. The company's revenue was up 7.7% on a year-over-year basis. Equities analysts expect that Ducommun Incorporated will post 4.07 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, VP Jerry L. Redondo sold 5,682 shares of the stock in a transaction on Thursday, May 14th. The shares were sold at an average price of $154.36, for a total value of $877,073.52. Following the completion of the sale, the vice president directly owned 62,034 shares of the company's stock, valued at $9,575,568.24. This represents a 8.39% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, VP Laureen S. Gonzalez sold 589 shares of the firm's stock in a transaction on Thursday, May 28th. The shares were sold at an average price of $151.99, for a total transaction of $89,522.11. Following the sale, the vice president owned 11,172 shares in the company, valued at $1,698,032.28. The trade was a 5.01% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 7,883 shares of company stock worth $1,200,336 over the last three months. 5.00% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Ducommun

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. increased its stake in Ducommun by 2.3% during the fourth quarter. Vanguard Group Inc. now owns 842,368 shares of the aerospace company's stock worth $80,134,000 after acquiring an additional 19,143 shares during the last quarter. Meros Investment Management LP lifted its stake in shares of Ducommun by 4.8% in the 4th quarter. Meros Investment Management LP now owns 174,485 shares of the aerospace company's stock valued at $16,599,000 after purchasing an additional 7,945 shares during the last quarter. Tudor Investment Corp ET AL lifted its stake in shares of Ducommun by 553.2% in the 3rd quarter. Tudor Investment Corp ET AL now owns 26,978 shares of the aerospace company's stock valued at $2,593,000 after purchasing an additional 22,848 shares during the last quarter. Calamos Advisors LLC purchased a new position in shares of Ducommun in the 1st quarter worth approximately $960,000. Finally, Hsbc Holdings PLC boosted its holdings in shares of Ducommun by 124.9% in the 1st quarter. Hsbc Holdings PLC now owns 13,091 shares of the aerospace company's stock worth $1,569,000 after purchasing an additional 7,269 shares during the period. 92.15% of the stock is owned by 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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