Ducommun (NYSE:DCO) Hits New 12-Month High – Time to Buy?

Ducommun Incorporated (NYSE:DCO)’s share price reached a new 52-week high on Wednesday . The company traded as high as $187.07 and last traded at $184.6870, with a volume of 282417 shares changing hands. The stock had previously closed at $184.42.

Wall Street Analysts Forecast Growth

DCO has been the subject of several recent research reports. B. Riley Financial boosted their target price on shares of Ducommun from $155.00 to $187.00 and gave the stock a “buy” rating in a research report on Wednesday, May 13th. Citigroup lifted their price target on Ducommun from $141.00 to $167.00 and gave the company a “buy” rating in a research note on Monday, May 18th. Wall Street Zen raised Ducommun from a “hold” rating to a “buy” rating in a report on Saturday, June 13th. The Goldman Sachs Group increased their price objective on Ducommun from $134.00 to $151.00 and gave the stock a “buy” rating in a research note on Monday, April 20th. Finally, Royal Bank Of Canada raised their target price on Ducommun from $150.00 to $155.00 and gave the company an “outperform” rating in a report on Wednesday, May 13th. Five research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $162.00.

Ducommun Stock Performance

The company has a debt-to-equity ratio of 0.44, a current ratio of 3.67 and a quick ratio of 2.59. The company has a 50 day simple moving average of $151.83 and a 200-day simple moving average of $129.67. The stock has a market capitalization of $2.79 billion, a P/E ratio of -78.26 and a beta of 1.06.

Ducommun (NYSE:DCO) last posted its quarterly 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. Ducommun had a positive return on equity of 8.41% and a negative net margin of 4.11%.The company had revenue of $209.02 million during the quarter, compared to the consensus estimate of $199.61 million. During the same quarter in the prior year, the company earned $0.83 EPS. The firm’s quarterly revenue was up 7.7% compared to the same quarter last year. On average, equities analysts forecast that Ducommun Incorporated will post 4.07 EPS for the current year.

Insider Buying and Selling at Ducommun

In other news, VP Rajiv A. Tata sold 1,612 shares of Ducommun stock in a transaction dated Wednesday, May 20th. The shares were sold at an average price of $145.00, for a total value of $233,740.00. Following the completion of the transaction, the vice president owned 33,171 shares in the company, valued at $4,809,795. This trade represents a 4.63% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Laureen S. Gonzalez sold 589 shares of the business’s stock in a transaction that occurred on Thursday, May 28th. The shares were sold at an average price of $151.99, for a total transaction of $89,522.11. Following the completion of the sale, the vice president directly owned 11,172 shares in the company, valued at approximately $1,698,032.28. This trade represents a 5.01% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 7,883 shares of company stock valued at $1,200,336 over the last three months. 5.00% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

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

About Ducommun

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.