Ducommun (NYSE:DCO) Sets New 1-Year High – Here’s Why

Ducommun Incorporated (NYSE:DCO) shares reached a new 52-week high during mid-day trading on Thursday . The stock traded as high as $70.50 and last traded at $69.73, with a volume of 210714 shares traded. The stock had previously closed at $66.40.

Analyst Upgrades and Downgrades

A number of brokerages have commented on DCO. StockNews.com raised Ducommun from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, November 12th. Truist Financial lifted their target price on shares of Ducommun from $71.00 to $80.00 and gave the stock a “buy” rating in a research note on Friday, November 8th. Finally, The Goldman Sachs Group raised shares of Ducommun from a “neutral” rating to a “buy” rating and increased their price target for the company from $64.00 to $80.00 in a research report on Tuesday, August 13th. Four investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Buy” and a consensus price target of $73.00.

Ducommun Trading Down 5.9 %

The company has a debt-to-equity ratio of 0.37, a quick ratio of 2.16 and a current ratio of 3.21. The stock has a market capitalization of $939.35 million, a P/E ratio of 31.94 and a beta of 1.41. The stock has a 50-day moving average price of $64.81 and a two-hundred day moving average price of $62.38.

Insider Activity at Ducommun

In other news, CEO Stephen G. Oswald sold 1,200 shares of Ducommun stock in a transaction dated Friday, September 20th. The shares were sold at an average price of $66.32, for a total transaction of $79,584.00. Following the sale, the chief executive officer now owns 341,151 shares of the company’s stock, valued at approximately $22,625,134.32. The trade was a 0.35 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Robert C. Ducommun sold 1,000 shares of the business’s stock in a transaction dated Thursday, December 5th. The shares were sold at an average price of $69.50, for a total transaction of $69,500.00. Following the transaction, the director now owns 409,900 shares in the company, valued at $28,488,050. This represents a 0.24 % decrease in their position. The disclosure for this sale can be found here. 8.80% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in DCO. Point72 DIFC Ltd grew its stake in Ducommun by 591.2% in the third quarter. Point72 DIFC Ltd now owns 788 shares of the aerospace company’s stock worth $52,000 after purchasing an additional 674 shares during the period. Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Ducommun in the 3rd quarter worth about $80,000. Eastern Bank bought a new position in shares of Ducommun in the 3rd quarter worth about $118,000. Quantbot Technologies LP purchased a new position in Ducommun during the 3rd quarter valued at about $132,000. Finally, Virtu Financial LLC bought a new stake in Ducommun during the third quarter worth about $204,000. Hedge funds and other institutional investors own 92.15% of the company’s stock.

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.