Dycom Industries (NYSE:DY) Price Target Raised to $215.00

Dycom Industries (NYSE:DY) had its target price lifted by Wells Fargo & Company from $200.00 to $215.00 in a report released on Friday morning,Benzinga reports. Wells Fargo & Company currently has an overweight rating on the construction company’s stock.

Several other equities analysts also recently weighed in on DY. Bank of America boosted their target price on Dycom Industries from $198.00 to $204.00 and gave the company a “buy” rating in a research report on Friday, August 23rd. B. Riley lifted their price target on shares of Dycom Industries from $205.00 to $208.00 and gave the stock a “buy” rating in a research note on Thursday, August 22nd. KeyCorp increased their price objective on shares of Dycom Industries from $200.00 to $227.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 8th. Finally, StockNews.com lowered Dycom Industries from a “buy” rating to a “hold” rating in a research report on Friday, July 26th. One equities research analyst has rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of $205.57.

Dycom Industries Price Performance

Shares of NYSE:DY traded up $2.86 during trading on Friday, hitting $187.52. 571,774 shares of the company’s stock were exchanged, compared to its average volume of 290,885. The business’s 50-day simple moving average is $188.73 and its 200 day simple moving average is $177.48. The company has a market cap of $5.46 billion, a price-to-earnings ratio of 23.30, a PEG ratio of 1.54 and a beta of 1.44. Dycom Industries has a 52-week low of $84.83 and a 52-week high of $207.20. The company has a debt-to-equity ratio of 0.81, a current ratio of 3.44 and a quick ratio of 3.25.

Dycom Industries (NYSE:DY) last released its quarterly earnings data on Wednesday, August 21st. The construction company reported $2.46 EPS for the quarter, beating the consensus estimate of $2.26 by $0.20. Dycom Industries had a net margin of 5.37% and a return on equity of 22.28%. The business had revenue of $1.20 billion during the quarter, compared to analyst estimates of $1.20 billion. During the same quarter last year, the business earned $2.03 earnings per share. Dycom Industries’s quarterly revenue was up 15.5% compared to the same quarter last year. As a group, equities analysts predict that Dycom Industries will post 7.96 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in DY. Accent Capital Management LLC bought a new stake in Dycom Industries during the third quarter valued at about $25,000. Allspring Global Investments Holdings LLC acquired a new stake in shares of Dycom Industries in the 1st quarter worth $28,000. Legacy Investment Solutions LLC purchased a new position in Dycom Industries during the 3rd quarter worth $28,000. Annapolis Financial Services LLC purchased a new stake in Dycom Industries in the third quarter valued at about $29,000. Finally, Anchor Investment Management LLC boosted its holdings in Dycom Industries by 50.4% in the second quarter. Anchor Investment Management LLC now owns 194 shares of the construction company’s stock worth $33,000 after acquiring an additional 65 shares in the last quarter. Hedge funds and other institutional investors own 98.33% of the company’s stock.

Dycom Industries Company Profile

Dycom Industries, Inc provides specialty contracting services to the telecommunications infrastructure and utility industries in the United States. The company offers engineering services to telecommunications providers, including the planning and design of aerial, underground, and buried fiber optic, copper, and coaxial cable systems; wireless networks in connection with the deployment of macro cell and new small cell sites; and program and project management and inspection personnel.