Dycom Industries (NYSE:DY) Price Target Raised to $190.00 at Craig Hallum

Dycom Industries (NYSE:DY) had its target price lifted by analysts at Craig Hallum from $145.00 to $190.00 in a research note issued on Thursday, Benzinga reports. The firm currently has a “buy” rating on the construction company’s stock. Craig Hallum’s target price points to a potential upside of 7.77% from the stock’s previous close.

A number of other analysts also recently weighed in on DY. B. Riley upgraded Dycom Industries from a “neutral” rating to a “buy” rating and lifted their price target for the company from $101.00 to $172.00 in a research note on Friday, March 8th. Wells Fargo & Company lifted their price objective on Dycom Industries from $165.00 to $175.00 and gave the stock an “overweight” rating in a report on Monday. Raymond James boosted their price target on Dycom Industries from $143.00 to $195.00 and gave the stock a “strong-buy” rating in a report on Thursday. KeyCorp boosted their price target on Dycom Industries from $169.00 to $179.00 and gave the stock an “overweight” rating in a report on Thursday. Finally, UBS Group boosted their price target on Dycom Industries from $175.00 to $200.00 and gave the stock a “buy” rating in a report on Thursday. One research analyst has rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Dycom Industries has a consensus rating of “Buy” and a consensus price target of $175.86.

Dycom Industries Stock Performance

Shares of DY stock traded up $9.16 during midday trading on Thursday, hitting $176.30. The company had a trading volume of 228,980 shares, compared to its average volume of 249,901. The company has a debt-to-equity ratio of 0.75, a current ratio of 3.06 and a quick ratio of 2.85. Dycom Industries has a 52-week low of $78.42 and a 52-week high of $176.55. The stock has a market cap of $5.13 billion, a price-to-earnings ratio of 23.92, a PEG ratio of 2.02 and a beta of 1.37. The company’s 50 day simple moving average is $142.97 and its 200 day simple moving average is $122.58.

Dycom Industries (NYSE:DY) last posted its quarterly earnings results on Wednesday, May 22nd. The construction company reported $2.12 earnings per share for the quarter, beating analysts’ consensus estimates of $1.39 by $0.73. Dycom Industries had a return on equity of 22.06% and a net margin of 5.24%. The firm had revenue of $1.14 billion for the quarter, compared to the consensus estimate of $1.09 billion. During the same period in the previous year, the business earned $1.73 earnings per share. The company’s revenue for the quarter was up 9.3% compared to the same quarter last year. Research analysts anticipate that Dycom Industries will post 7.14 earnings per share for the current fiscal year.

Insider Activity at Dycom Industries

In related news, VP Jason T. Lawson sold 220 shares of the company’s stock in a transaction on Monday, April 1st. The stock was sold at an average price of $140.27, for a total value of $30,859.40. Following the completion of the transaction, the vice president now directly owns 7,793 shares in the company, valued at $1,093,124.11. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 4.28% of the company’s stock.

Institutional Investors Weigh In On Dycom Industries

A number of institutional investors have recently added to or reduced their stakes in DY. Cubic Asset Management LLC boosted its position in shares of Dycom Industries by 171.6% in the fourth quarter. Cubic Asset Management LLC now owns 11,882 shares of the construction company’s stock worth $1,367,000 after buying an additional 7,507 shares during the period. International Assets Investment Management LLC purchased a new stake in shares of Dycom Industries in the fourth quarter worth about $6,623,000. Peconic Partners LLC boosted its position in shares of Dycom Industries by 2.9% in the third quarter. Peconic Partners LLC now owns 3,244,047 shares of the construction company’s stock worth $288,720,000 after buying an additional 91,093 shares during the period. Invesco Ltd. boosted its position in shares of Dycom Industries by 7.3% in the third quarter. Invesco Ltd. now owns 122,809 shares of the construction company’s stock worth $10,930,000 after buying an additional 8,316 shares during the period. Finally, abrdn plc boosted its position in shares of Dycom Industries by 275.0% in the third quarter. abrdn plc now owns 15,000 shares of the construction company’s stock worth $1,335,000 after buying an additional 11,000 shares during the period. Hedge funds and other institutional investors own 98.33% of the company’s stock.

About Dycom Industries

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.