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

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

Analyst Ratings Changes

DCO has been the topic of a number of analyst reports. Wall Street Zen cut shares of Ducommun from a “buy” rating to a “hold” rating in a research report on Saturday, July 18th. B. Riley Financial raised their target price on shares of Ducommun from $155.00 to $187.00 and gave the stock a “buy” rating in a report on Wednesday, May 13th. Weiss Ratings raised shares of Ducommun from a “hold (c-)” rating to a “hold (c)” rating in a research note on Tuesday, July 21st. Citigroup upped their price target on shares of Ducommun from $167.00 to $216.00 and gave the company a “buy” rating in a report on Wednesday, July 1st. Finally, Royal Bank Of Canada lowered shares of Ducommun from an “outperform” rating to a “sector perform” rating and increased their price objective for the stock from $155.00 to $175.00 in a research report on Thursday, July 9th. Four equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Ducommun presently has an average rating of “Moderate Buy” and an average target price of $175.80.

Ducommun Stock Performance

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

Ducommun (NYSE:DCO) last released its 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. The business had revenue of $209.02 million during the quarter, compared to the consensus estimate of $199.61 million. Ducommun had a positive return on equity of 8.41% and a negative net margin of 4.11%.The business’s revenue for the quarter was up 7.7% compared to the same quarter last year. During the same period last year, the company earned $0.83 earnings per share. As a group, equities research analysts forecast that Ducommun Incorporated will post 4.07 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Ducommun news, VP Laureen S. Gonzalez sold 589 shares of the company’s stock in a transaction dated Thursday, May 28th. The shares were sold at an average price of $151.99, for a total value of $89,522.11. Following the transaction, the vice president directly owned 11,172 shares in the company, valued at $1,698,032.28. This represents a 5.01% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Jerry L. Redondo sold 5,682 shares of the company’s stock in a transaction dated Thursday, May 14th. The stock was sold at an average price of $154.36, for a total transaction of $877,073.52. Following the completion of the transaction, the vice president owned 62,034 shares in the company, valued at $9,575,568.24. This represents a 8.39% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 7,883 shares of company stock valued at $1,200,336 in the last 90 days. Company insiders own 5.00% of the company’s stock.

Institutional Trading of Ducommun

A number of large investors have recently modified their holdings of DCO. Vanguard Group Inc. grew its stake in Ducommun by 2.3% in the fourth quarter. Vanguard Group Inc. now owns 842,368 shares of the aerospace company’s stock worth $80,134,000 after purchasing an additional 19,143 shares in the last quarter. State Street Corp raised its position in Ducommun by 10.4% during the 4th quarter. State Street Corp now owns 670,966 shares of the aerospace company’s stock valued at $63,829,000 after purchasing an additional 63,070 shares in the last quarter. Geode Capital Management LLC raised its position in Ducommun by 1.8% during the 4th quarter. Geode Capital Management LLC now owns 333,371 shares of the aerospace company’s stock valued at $31,720,000 after purchasing an additional 5,899 shares in the last quarter. GW&K Investment Management LLC lifted its holdings in shares of Ducommun by 2.0% in the 4th quarter. GW&K Investment Management LLC now owns 319,772 shares of the aerospace company’s stock worth $30,420,000 after buying an additional 6,192 shares during the period. Finally, Alliancebernstein L.P. lifted its holdings in shares of Ducommun by 5.4% in the 3rd quarter. Alliancebernstein L.P. now owns 319,470 shares of the aerospace company’s stock worth $30,711,000 after buying an additional 16,501 shares during the period. Hedge funds and other institutional investors own 92.15% of the company’s stock.

Ducommun Company Profile

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.