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

Dycom Industries (NYSE:DY) had its target price increased by research analysts at Wells Fargo & Company from $200.00 to $215.00 in a report issued on Friday,Benzinga reports. The brokerage presently has an “overweight” rating on the construction company’s stock. Wells Fargo & Company‘s price target points to a potential upside of 14.65% from the company’s previous close.

A number of other equities analysts have also commented on DY. KeyCorp lifted their price objective on Dycom Industries from $200.00 to $227.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 8th. Bank of America raised their price objective on shares of Dycom Industries from $198.00 to $204.00 and gave the stock a “buy” rating in a report on Friday, August 23rd. StockNews.com downgraded Dycom Industries from a “buy” rating to a “hold” rating in a report on Friday, July 26th. Finally, B. Riley raised their target price on Dycom Industries from $205.00 to $208.00 and gave the stock a “buy” rating in a research report on Thursday, August 22nd. One investment analyst has rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of $205.57.

Dycom Industries Stock Performance

Shares of NYSE DY opened at $187.52 on Friday. The business’s 50-day simple moving average is $188.73 and its 200-day simple moving average is $177.74. The company has a debt-to-equity ratio of 0.81, a quick ratio of 3.25 and a current ratio of 3.44. Dycom Industries has a 52 week low of $84.83 and a 52 week high of $207.20. The firm has a market cap of $5.46 billion, a price-to-earnings ratio of 23.29, a P/E/G ratio of 1.54 and a beta of 1.44.

Dycom Industries (NYSE:DY) last announced its quarterly earnings results 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 return on equity of 22.28% and a net margin of 5.37%. The company had revenue of $1.20 billion for the quarter, compared to the consensus estimate of $1.20 billion. During the same quarter last year, the company posted $2.03 earnings per share. The company’s revenue for the quarter was up 15.5% compared to the same quarter last year. As a group, equities research analysts expect that Dycom Industries will post 7.96 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Dycom Industries

A number of hedge funds have recently added to or reduced their stakes in the stock. Accent Capital Management LLC bought a new position in Dycom Industries in the 3rd quarter valued at $25,000. Annapolis Financial Services LLC bought a new position in shares of Dycom Industries during the 3rd quarter valued at about $29,000. Legacy Investment Solutions LLC acquired a new position in shares of Dycom Industries in the 3rd quarter valued at approximately $28,000. Allspring Global Investments Holdings LLC bought a new stake in Dycom Industries during the 1st quarter worth approximately $28,000. Finally, Anchor Investment Management LLC raised its holdings in Dycom Industries by 50.4% during the 2nd quarter. Anchor Investment Management LLC now owns 194 shares of the construction company’s stock worth $33,000 after buying an additional 65 shares during the period. 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.