Ducommun (NYSE:DCO) Reaches New 12-Month High Following Strong Earnings

Ducommun Incorporated (NYSE:DCO)’s stock price reached a new 52-week high on Wednesday following a stronger than expected earnings report. The stock traded as high as $60.00 and last traded at $56.00, with a volume of 20564 shares traded. The stock had previously closed at $55.18.

The aerospace company reported $0.70 earnings per share for the quarter, beating analysts’ consensus estimates of $0.52 by $0.18. Ducommun had a return on equity of 5.94% and a net margin of 2.10%. The business had revenue of $190.90 million for the quarter, compared to the consensus estimate of $189.20 million. During the same quarter last year, the business posted $0.63 earnings per share. The company’s revenue for the quarter was up 5.4% on a year-over-year basis.

Analyst Upgrades and Downgrades

DCO has been the topic of several analyst reports. StockNews.com upgraded Ducommun from a “hold” rating to a “buy” rating in a report on Thursday. B. Riley restated a “buy” rating and set a $72.00 price target on shares of Ducommun in a report on Friday, February 16th. Truist Financial cut their price objective on Ducommun from $69.00 to $65.00 and set a “buy” rating on the stock in a research report on Friday, February 16th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $60.00 price objective on shares of Ducommun in a research report on Friday, February 16th. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $62.80.

Hedge Funds Weigh In On Ducommun

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Paradigm Capital Management Inc. NY raised its stake in Ducommun by 33.0% during the 3rd quarter. Paradigm Capital Management Inc. NY now owns 1,420,200 shares of the aerospace company’s stock valued at $61,793,000 after buying an additional 352,185 shares during the last quarter. GW&K Investment Management LLC purchased a new stake in Ducommun during the 4th quarter valued at $13,699,000. Charles Schwab Investment Management Inc. raised its stake in Ducommun by 106.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 178,273 shares of the aerospace company’s stock valued at $7,757,000 after buying an additional 92,007 shares during the last quarter. First Eagle Investment Management LLC raised its stake in Ducommun by 37.3% during the 3rd quarter. First Eagle Investment Management LLC now owns 247,689 shares of the aerospace company’s stock valued at $10,777,000 after buying an additional 67,226 shares during the last quarter. Finally, Diamond Hill Capital Management Inc. purchased a new stake in shares of Ducommun in the 3rd quarter worth $2,704,000. 92.15% of the stock is owned by institutional investors.

Ducommun Price Performance

The company has a current ratio of 2.99, a quick ratio of 1.91 and a debt-to-equity ratio of 0.40. The stock has a market capitalization of $837.26 million, a PE ratio of 49.73 and a beta of 1.26. The firm has a 50 day moving average price of $52.06 and a 200 day moving average price of $50.65.

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.