Ducommun (NYSE:DCO) Reaches New 1-Year High on Strong Earnings

Ducommun Incorporated (NYSE:DCO)’s share price reached a new 52-week high on Wednesday following a better than expected earnings announcement. The company 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 EPS for the quarter, topping 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 company had revenue of $190.90 million for the quarter, compared to analysts’ expectations of $189.20 million. During the same period last year, the firm earned $0.63 EPS. Ducommun’s revenue for the quarter was up 5.4% compared to the same quarter last year.

Analyst Ratings Changes

A number of equities analysts recently commented on DCO shares. B. Riley reaffirmed a “buy” rating and issued a $72.00 target price on shares of Ducommun in a report on Friday, February 16th. Truist Financial cut their price target on Ducommun from $69.00 to $65.00 and set a “buy” rating for the company in a research note on Friday, February 16th. Royal Bank of Canada reiterated an “outperform” rating and issued a $60.00 price target on shares of Ducommun in a research note on Friday, February 16th. Finally, StockNews.com upgraded Ducommun from a “hold” rating to a “buy” rating in a research note on Thursday. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $62.80.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in DCO. Bank of New York Mellon Corp grew its position in shares of Ducommun by 11.2% during the third quarter. Bank of New York Mellon Corp now owns 62,098 shares of the aerospace company’s stock valued at $2,702,000 after purchasing an additional 6,233 shares in the last quarter. Advisor Partners II LLC purchased a new position in shares of Ducommun during the third quarter valued at about $211,000. Teacher Retirement System of Texas grew its position in Ducommun by 42.0% in the third quarter. Teacher Retirement System of Texas now owns 33,714 shares of the aerospace company’s stock worth $1,467,000 after acquiring an additional 9,972 shares in the last quarter. Annex Advisory Services LLC grew its position in Ducommun by 19.8% in the third quarter. Annex Advisory Services LLC now owns 13,099 shares of the aerospace company’s stock worth $570,000 after acquiring an additional 2,163 shares in the last quarter. Finally, Diamond Hill Capital Management Inc. purchased a new position in Ducommun in the third quarter worth about $2,704,000. Hedge funds and other institutional investors own 92.15% of the company’s stock.

Ducommun Trading Up 1.1 %

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