Ducommun (NYSE:DCO) Reaches New 52-Week High – Here’s Why

Ducommun Incorporated (NYSE:DCO) reached a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $102.15 and last traded at $101.69, with a volume of 2843 shares trading hands. The stock had previously closed at $101.04.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on DCO. Citigroup started coverage on Ducommun in a research report on Thursday, December 11th. They set a “buy” rating and a $110.00 target price on the stock. Wall Street Zen lowered Ducommun from a “strong-buy” rating to a “buy” rating in a research report on Monday, November 10th. Weiss Ratings reissued a “hold (c-)” rating on shares of Ducommun in a report on Monday, December 29th. Finally, Zacks Research upgraded shares of Ducommun from a “strong sell” rating to a “hold” rating in a research report on Monday, December 8th. Five research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $99.75.

Ducommun Stock Performance

The company has a quick ratio of 1.46, a current ratio of 2.04 and a debt-to-equity ratio of 0.33. The stock has a fifty day moving average price of $93.24 and a 200-day moving average price of $91.78. The firm has a market cap of $1.58 billion, a price-to-earnings ratio of -45.06 and a beta of 1.07.

Ducommun (NYSE:DCO) last posted its quarterly earnings data on Thursday, November 6th. The aerospace company reported $0.99 earnings per share for the quarter, beating analysts’ consensus estimates of $0.95 by $0.04. The firm had revenue of $212.56 million for the quarter, compared to analyst estimates of $211.41 million. Ducommun had a negative net margin of 4.29% and a positive return on equity of 7.70%. Ducommun’s quarterly revenue was up 5.6% on a year-over-year basis. During the same period last year, the firm posted $0.67 EPS. On average, analysts expect that Ducommun Incorporated will post 3.21 earnings per share for the current fiscal year.

Insider Buying and Selling at Ducommun

In other news, VP Jerry L. Redondo sold 2,000 shares of the business’s stock in a transaction dated Wednesday, December 10th. The shares were sold at an average price of $92.86, for a total transaction of $185,720.00. Following the transaction, the vice president directly owned 65,269 shares in the company, valued at $6,060,879.34. The trade was a 2.97% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 8.90% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Ducommun

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its holdings in shares of Ducommun by 2.1% in the 3rd quarter. Vanguard Group Inc. now owns 823,225 shares of the aerospace company’s stock valued at $79,137,000 after buying an additional 16,985 shares during the period. Gamco Investors INC. ET AL grew its holdings in Ducommun by 6.5% during the second quarter. Gamco Investors INC. ET AL now owns 626,611 shares of the aerospace company’s stock worth $51,777,000 after acquiring an additional 38,333 shares during the period. Geode Capital Management LLC raised its position in Ducommun by 1.8% in the second quarter. Geode Capital Management LLC now owns 325,079 shares of the aerospace company’s stock worth $26,865,000 after acquiring an additional 5,725 shares in the last quarter. Alliancebernstein L.P. lifted its holdings in Ducommun by 5.4% in the third quarter. Alliancebernstein L.P. now owns 319,470 shares of the aerospace company’s stock valued at $30,711,000 after acquiring an additional 16,501 shares during the period. Finally, Kennedy Capital Management LLC boosted its position in shares of Ducommun by 18.4% during the 3rd quarter. Kennedy Capital Management LLC now owns 287,298 shares of the aerospace company’s stock worth $27,618,000 after purchasing an additional 44,564 shares in the last quarter. Institutional investors and hedge funds 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.