Dycom Industries (NYSE:DY) Reaches New 1-Year High at $188.53

Dycom Industries, Inc. (NYSE:DY)’s share price reached a new 52-week high on Wednesday . The stock traded as high as $188.53 and last traded at $187.79, with a volume of 133933 shares traded. The stock had previously closed at $179.80.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the company. Craig Hallum lifted their price objective on Dycom Industries from $145.00 to $190.00 and gave the company a “buy” rating in a research note on Thursday, May 23rd. Wells Fargo & Company lifted their price target on Dycom Industries from $185.00 to $200.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 17th. StockNews.com cut shares of Dycom Industries from a “buy” rating to a “hold” rating in a research note on Friday, July 26th. Raymond James raised their price objective on shares of Dycom Industries from $143.00 to $195.00 and gave the company a “strong-buy” rating in a research note on Thursday, May 23rd. Finally, UBS Group upped their target price on shares of Dycom Industries from $175.00 to $200.00 and gave the stock a “buy” rating in a research note on Thursday, May 23rd. One investment analyst has rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Dycom Industries presently has a consensus rating of “Buy” and a consensus price target of $195.29.

Dycom Industries Price Performance

The firm has a 50-day moving average of $174.97 and a 200 day moving average of $147.21. The company has a debt-to-equity ratio of 0.78, a current ratio of 3.17 and a quick ratio of 2.97. The company has a market capitalization of $5.34 billion, a PE ratio of 23.66, a PEG ratio of 1.89 and a beta of 1.45.

Dycom Industries (NYSE:DY) last announced its quarterly earnings results on Wednesday, May 22nd. The construction company reported $2.12 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.39 by $0.73. Dycom Industries had a net margin of 5.38% and a return on equity of 22.15%. The firm had revenue of $1.14 billion for the quarter, compared to the consensus estimate of $1.09 billion. During the same quarter last year, the firm posted $1.73 EPS. The business’s quarterly revenue was up 9.3% compared to the same quarter last year. As a group, research analysts anticipate that Dycom Industries, Inc. will post 8.02 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Dycom Industries news, VP Jason T. Lawson sold 856 shares of the business’s stock in a transaction on Thursday, July 11th. The shares were sold at an average price of $174.48, for a total transaction of $149,354.88. Following the completion of the sale, the vice president now directly owns 6,937 shares in the company, valued at approximately $1,210,367.76. The sale was disclosed in a document filed with the SEC, which is available through this link. 4.28% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Dycom Industries

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Peconic Partners LLC grew its position in shares of Dycom Industries by 0.7% during the 4th quarter. Peconic Partners LLC now owns 3,265,682 shares of the construction company’s stock valued at $375,847,000 after acquiring an additional 21,635 shares during the period. Vanguard Group Inc. grew its holdings in Dycom Industries by 0.4% during the first quarter. Vanguard Group Inc. now owns 3,196,041 shares of the construction company’s stock valued at $458,728,000 after purchasing an additional 12,395 shares during the period. Dimensional Fund Advisors LP raised its stake in shares of Dycom Industries by 1.5% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,008,912 shares of the construction company’s stock worth $116,117,000 after buying an additional 15,389 shares during the period. Charles Schwab Investment Management Inc. raised its stake in shares of Dycom Industries by 4.5% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 418,969 shares of the construction company’s stock worth $48,219,000 after buying an additional 18,063 shares during the period. Finally, Norges Bank purchased a new position in shares of Dycom Industries during the 4th quarter valued at about $33,679,000. 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.