Dycom Industries (NYSE:DY) Price Target Raised to $179.00

Dycom Industries (NYSE:DYFree Report) had its price objective increased by KeyCorp from $169.00 to $179.00 in a report issued on Thursday, Benzinga reports. The brokerage currently has an overweight rating on the construction company’s stock.

Several other research firms have also issued reports on DY. Wells Fargo & Company raised their price target on Dycom Industries from $165.00 to $175.00 and gave the stock an overweight rating in a research report on Monday, May 20th. B. Riley upgraded Dycom Industries from a neutral rating to a buy rating and raised their target price for the stock from $101.00 to $172.00 in a report on Friday, March 8th. Eight investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of Buy and an average price target of $175.86.

View Our Latest Research Report on Dycom Industries

Dycom Industries Stock Performance

Shares of NYSE:DY opened at $179.73 on Thursday. The company has a current ratio of 3.17, a quick ratio of 2.85 and a debt-to-equity ratio of 0.78. Dycom Industries has a 1-year low of $78.42 and a 1-year high of $181.60. The stock has a market capitalization of $5.23 billion, a P/E ratio of 23.16, a P/E/G ratio of 2.32 and a beta of 1.37. The business has a 50-day moving average price of $144.46 and a two-hundred day moving average price of $123.63.

Dycom Industries (NYSE:DYGet Free Report) last issued its quarterly earnings results on Wednesday, May 22nd. The construction company reported $2.12 EPS for the quarter, topping the consensus estimate of $1.39 by $0.73. Dycom Industries had a net margin of 5.38% and a return on equity of 22.15%. The company had revenue of $1.14 billion during the quarter, compared to analysts’ expectations of $1.09 billion. During the same quarter in the previous year, the company earned $1.73 EPS. Dycom Industries’s revenue was up 9.3% on a year-over-year basis. Equities analysts predict that Dycom Industries will post 7.14 earnings per share for the current year.

Insider Activity

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

Institutional Trading of Dycom Industries

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC bought a new position in shares of Dycom Industries in the 1st quarter valued at about $28,000. Headlands Technologies LLC acquired a new stake in Dycom Industries in the 1st quarter valued at about $72,000. Quadrant Capital Group LLC grew its holdings in Dycom Industries by 26.4% during the fourth quarter. Quadrant Capital Group LLC now owns 770 shares of the construction company’s stock worth $89,000 after purchasing an additional 161 shares during the period. Principal Securities Inc. acquired a new position in Dycom Industries during the fourth quarter worth approximately $142,000. Finally, Strs Ohio raised its stake in Dycom Industries by 50.0% in the fourth quarter. Strs Ohio now owns 1,500 shares of the construction company’s stock valued at $172,000 after buying an additional 500 shares during the period. 98.33% of the stock is owned by institutional investors.

Dycom Industries Company Profile

(Get Free Report)

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.

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Analyst Recommendations for Dycom Industries (NYSE:DY)

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