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

Key Points

• Ducommun Incorporated's stock reached a new 52-week high of $96.49 on Tuesday, up from a previous close of $93.44, with volume totaling 103,364 shares traded.
• Several analysts have recently revised their price targets for Ducommun, with Truist Financial and Royal Bank of Canada setting prices at $95.00 and $100.00, respectively, both maintaining "buy" ratings.
• The company reported earnings of $0.88 per share for the last quarter, exceeding expectations of $0.80, with revenue rising 2.7% year-over-year to $202.26 million.

Shares of Ducommun Incorporated (NYSE:DCO - Get Free Report) reached a new 52-week high on Tuesday . The stock traded as high as $96.49 and last traded at $96.20, with a volume of 103364 shares traded. The stock had previously closed at $93.44.

Analysts Set New Price Targets

DCO has been the subject of several research analyst reports. Truist Financial boosted their price objective on shares of Ducommun from $87.00 to $95.00 and gave the stock a "buy" rating in a research report on Friday, July 11th. Royal Bank Of Canada upped their target price on shares of Ducommun from $95.00 to $100.00 and gave the company an "outperform" rating in a research report on Friday, August 8th. The Goldman Sachs Group upped their target price on shares of Ducommun from $84.00 to $94.00 and gave the company a "buy" rating in a research report on Monday, June 23rd. Wall Street Zen upgraded shares of Ducommun from a "buy" rating to a "strong-buy" rating in a research report on Sunday, August 10th. Finally, Citigroup reiterated a "buy" rating and set a $101.00 target price (up previously from $91.00) on shares of Ducommun in a research report on Monday, July 14th. Five research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat, Ducommun presently has an average rating of "Moderate Buy" and a consensus target price of $97.50.

Ducommun Stock Performance

The stock's 50 day moving average is $91.58 and its two-hundred day moving average is $76.62. The stock has a market capitalization of $1.44 billion, a price-to-earnings ratio of 36.58 and a beta of 1.41. The company has a current ratio of 3.24, a quick ratio of 2.17 and a debt-to-equity ratio of 0.31.

Ducommun (NYSE:DCO - Get Free Report) last released its earnings results on Thursday, August 7th. The aerospace company reported $0.88 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 5.03%.The company's revenue was up 2.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.52 EPS. Analysts expect that Ducommun Incorporated will post 3.21 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Ducommun

Large investors have recently added to or reduced their stakes in the company. EverSource Wealth Advisors LLC increased its holdings in Ducommun by 618.8% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 345 shares of the aerospace company's stock worth $29,000 after purchasing an additional 297 shares in the last quarter. Traub Capital Management LLC bought a new position in Ducommun during the 2nd quarter worth about $35,000. CWM LLC increased its holdings in Ducommun by 27.7% during the 2nd quarter. CWM LLC now owns 687 shares of the aerospace company's stock worth $57,000 after purchasing an additional 149 shares in the last quarter. Central Pacific Bank Trust Division increased its holdings in Ducommun by 200.0% during the 1st quarter. Central Pacific Bank Trust Division now owns 1,500 shares of the aerospace company's stock worth $87,000 after purchasing an additional 1,000 shares in the last quarter. Finally, CANADA LIFE ASSURANCE Co acquired a new position in shares of Ducommun during the 2nd quarter worth about $145,000. 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.

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