Dycom Industries (NYSE:DY) Hits New 1-Year High at $148.87

Dycom Industries, Inc. (NYSE:DY)’s share price reached a new 52-week high during mid-day trading on Tuesday . The company traded as high as $148.87 and last traded at $147.00, with a volume of 13288 shares trading hands. The stock had previously closed at $145.37.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the stock. KeyCorp boosted their target price on shares of Dycom Industries from $136.00 to $149.00 and gave the stock an “overweight” rating in a report on Thursday, February 29th. B. Riley upgraded Dycom Industries from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $101.00 to $172.00 in a research report on Friday, March 8th. One research analyst has rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Dycom Industries presently has an average rating of “Buy” and a consensus price target of $135.50.

Dycom Industries Price Performance

The company has a current ratio of 3.06, a quick ratio of 2.85 and a debt-to-equity ratio of 0.75. The company has a market capitalization of $4.32 billion, a PE ratio of 19.71, a price-to-earnings-growth ratio of 1.88 and a beta of 1.37. The stock’s 50-day moving average is $138.66 and its two-hundred day moving average is $117.18.

Dycom Industries (NYSE:DY) last issued its quarterly earnings results on Wednesday, February 28th. The construction company reported $0.79 earnings per share for the quarter, missing the consensus estimate of $0.94 by ($0.15). Dycom Industries had a return on equity of 22.06% and a net margin of 5.24%. The business had revenue of $952.50 million during the quarter, compared to analysts’ expectations of $968.87 million. During the same quarter in the previous year, the company posted $0.83 earnings per share. The company’s quarterly revenue was up 3.8% compared to the same quarter last year. On average, equities analysts predict that Dycom Industries, Inc. will post 7.14 EPS for the current year.

Insider Transactions at Dycom Industries

In related news, VP Jason T. Lawson sold 220 shares of Dycom Industries stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $140.27, for a total transaction of $30,859.40. Following the completion of the sale, the vice president now owns 7,793 shares in the company, valued at approximately $1,093,124.11. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 4.28% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Thompson Davis & CO. Inc. grew its position in shares of Dycom Industries by 2.9% during the 1st quarter. Thompson Davis & CO. Inc. now owns 2,675 shares of the construction company’s stock worth $384,000 after buying an additional 75 shares in the last quarter. First Bank & Trust lifted its position in shares of Dycom Industries by 5.7% in the 1st quarter. First Bank & Trust now owns 2,013 shares of the construction company’s stock worth $289,000 after purchasing an additional 108 shares during the period. Allspring Global Investments Holdings LLC boosted its stake in shares of Dycom Industries by 15.7% during the third quarter. Allspring Global Investments Holdings LLC now owns 974 shares of the construction company’s stock valued at $87,000 after purchasing an additional 132 shares in the last quarter. Quadrant Capital Group LLC increased 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 valued at $89,000 after buying an additional 161 shares during the period. Finally, Commonwealth Equity Services LLC raised its stake in Dycom Industries by 4.2% in the first quarter. Commonwealth Equity Services LLC now owns 4,201 shares of the construction company’s stock worth $603,000 after buying an additional 168 shares in the last quarter. 98.33% of the stock is currently owned by hedge funds and other institutional investors.

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.