Ducommun (NYSE:DCO) Hits New 12-Month High Following Analyst Upgrade

Ducommun Incorporated (NYSE:DCO) hit a new 52-week high during mid-day trading on Monday after Truist Financial raised their price target on the stock from $87.00 to $95.00. Truist Financial currently has a buy rating on the stock. Ducommun traded as high as $87.51 and last traded at $86.94, with a volume of 31333 shares traded. The stock had previously closed at $85.71.

Several other brokerages also recently commented on DCO. Royal Bank Of Canada upped their price objective on Ducommun from $72.00 to $95.00 and gave the company an “outperform” rating in a research report on Thursday, July 3rd. The Goldman Sachs Group upped their target price on shares of Ducommun from $84.00 to $94.00 and gave the stock a “buy” rating in a research note on Monday, June 23rd. Wall Street Zen raised shares of Ducommun from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, May 7th. Finally, B. Riley reiterated a “buy” rating on shares of Ducommun in a report on Wednesday, May 7th. Five investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Ducommun presently has a consensus rating of “Buy” and an average target price of $96.25.

Institutional Trading of Ducommun

A number of hedge funds have recently added to or reduced their stakes in the business. Sterling Capital Management LLC increased its position in Ducommun by 804.2% during the 4th quarter. Sterling Capital Management LLC now owns 434 shares of the aerospace company’s stock valued at $28,000 after purchasing an additional 386 shares during the period. Virtus Fund Advisers LLC bought a new position in shares of Ducommun during the fourth quarter valued at approximately $78,000. US Bancorp DE increased its holdings in Ducommun by 49.9% during the fourth quarter. US Bancorp DE now owns 1,327 shares of the aerospace company’s stock valued at $84,000 after buying an additional 442 shares during the period. Central Pacific Bank Trust Division raised its stake in Ducommun by 200.0% in the first quarter. Central Pacific Bank Trust Division now owns 1,500 shares of the aerospace company’s stock worth $87,000 after buying an additional 1,000 shares in the last quarter. Finally, Parvin Asset Management LLC purchased a new stake in Ducommun during the fourth quarter worth $98,000. 92.15% of the stock is owned by hedge funds and other institutional investors.

Ducommun Price Performance

The firm has a 50-day simple moving average of $75.72 and a 200-day simple moving average of $66.26. The firm has a market cap of $1.30 billion, a P/E ratio of 37.36 and a beta of 1.36. The company has a current ratio of 3.34, a quick ratio of 2.20 and a debt-to-equity ratio of 0.33.

Ducommun (NYSE:DCO) last issued its quarterly earnings data on Tuesday, May 6th. The aerospace company reported $0.83 earnings per share for the quarter, beating analysts’ consensus estimates of $0.63 by $0.20. Ducommun had a return on equity of 7.61% and a net margin of 4.45%. The company had revenue of $194.11 million for the quarter, compared to the consensus estimate of $192.30 million. During the same quarter last year, the company earned $0.70 earnings per share. The firm’s revenue for the quarter was up 1.7% compared to the same quarter last year. As a group, analysts forecast that Ducommun Incorporated will post 3.21 EPS for the current year.

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.