Dycom Industries (NYSE:DY) Upgraded to “Overweight” at Wells Fargo & Company

Wells Fargo & Company upgraded shares of Dycom Industries (NYSE:DY – Get Rating) from an equal weight rating to an overweight rating in a report issued on Thursday, The Fly reports. Wells Fargo & Company currently has $120.00 price objective on the construction company’s stock, up from their prior price objective of $105.00.

A number of other analysts have also recently issued reports on DY. Craig Hallum lifted their target price on shares of Dycom Industries from $110.00 to $124.00 and gave the company a buy rating in a research note on Thursday, March 2nd. UBS Group lifted their target price on shares of Dycom Industries from $124.00 to $125.00 and gave the company a buy rating in a research note on Thursday, March 2nd. Finally, StockNews.com started coverage on shares of Dycom Industries in a research note on Thursday, May 18th. They issued a buy rating for the company. Six research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock currently has a consensus rating of Buy and an average price target of $128.80.

Dycom Industries Stock Performance

DY stock opened at $100.50 on Thursday. The company has a debt-to-equity ratio of 0.93, a quick ratio of 2.93 and a current ratio of 3.18. The stock has a market cap of $2.95 billion, a P/E ratio of 21.20 and a beta of 1.30. The firm has a 50 day simple moving average of $93.81 and a 200 day simple moving average of $93.67. Dycom Industries has a 52 week low of $77.33 and a 52 week high of $122.13.

Dycom Industries (NYSE:DY – Get Rating) last posted its quarterly earnings results on Wednesday, May 24th. The construction company reported $1.73 EPS for the quarter, topping the consensus estimate of $0.70 by $1.03. The business had revenue of $1.05 billion during the quarter, compared to analysts’ expectations of $940.22 million. Dycom Industries had a net margin of 3.73% and a return on equity of 16.43%. The firm’s quarterly revenue was up 19.3% compared to the same quarter last year. During the same period last year, the company posted $0.51 earnings per share. Research analysts anticipate that Dycom Industries will post 5.37 earnings per share for the current fiscal year.

Insider Transactions at Dycom Industries

In other news, VP Ryan F. Urness sold 3,300 shares of the business’s stock in a transaction on Thursday, March 30th. The shares were sold at an average price of $94.90, for a total value of $313,170.00. Following the completion of the sale, the vice president now directly owns 26,242 shares in the company, valued at $2,490,365.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, VP Ryan F. Urness sold 3,300 shares of the business’s stock in a transaction on Thursday, March 30th. The shares were sold at an average price of $94.90, for a total transaction of $313,170.00. Following the transaction, the vice president now owns 26,242 shares of the company’s stock, valued at $2,490,365.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO H Andrew Deferrari sold 10,282 shares of the business’s stock in a transaction on Thursday, March 30th. The stock was sold at an average price of $94.11, for a total transaction of $967,639.02. Following the transaction, the chief financial officer now directly owns 148,425 shares in the company, valued at approximately $13,968,276.75. The disclosure for this sale can be found here. 4.25% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Dycom Industries

A number of institutional investors and hedge funds have recently bought and sold shares of DY. Credit Agricole S A bought a new position in Dycom Industries during the third quarter worth $33,000. CWM LLC increased its holdings in Dycom Industries by 35.2% in the 1st quarter. CWM LLC now owns 430 shares of the construction company’s stock valued at $40,000 after buying an additional 112 shares during the period. Rockefeller Capital Management L.P. increased its holdings in Dycom Industries by 114.0% in the 4th quarter. Rockefeller Capital Management L.P. now owns 490 shares of the construction company’s stock valued at $45,000 after buying an additional 261 shares during the period. Lazard Asset Management LLC bought a new stake in Dycom Industries in the 3rd quarter valued at $54,000. Finally, Gyon Technologies Capital Management LP bought a new stake in Dycom Industries in the 4th quarter valued at $68,000. Institutional investors own 92.82% of the company’s stock.

About Dycom Industries

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Dycom Industries, Inc provides contracting services throughout the United States. Its services include engineering, construction, maintenance and installation services to telecommunications providers, underground facility locating services to various utilities, including other construction and maintenance services to electric and gas utilities, and others.