Dycom Industries (NYSE:DY) Price Target Raised to $195.00 at Raymond James

Dycom Industries (NYSE:DY) had its target price increased by equities researchers at Raymond James from $143.00 to $195.00 in a research report issued on Thursday, Benzinga reports. The brokerage presently has a “strong-buy” rating on the construction company’s stock. Raymond James’ price objective indicates a potential upside of 12.23% from the company’s previous close.

Several other equities research analysts also recently issued reports on the company. KeyCorp increased their price objective on Dycom Industries from $169.00 to $179.00 and gave the stock an “overweight” rating in a research note on Thursday. 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 note on Monday. Finally, B. Riley raised Dycom Industries from a “neutral” rating to a “buy” rating and increased their price objective for the company from $101.00 to $172.00 in a report on Friday, March 8th. One research 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 company. Based on data from MarketBeat, Dycom Industries currently has a consensus rating of “Buy” and an average price target of $173.50.

Dycom Industries Price Performance

DY stock traded up $6.61 during trading hours on Thursday, hitting $173.75. 79,701 shares of the stock traded hands, compared to its average volume of 248,167. The stock has a 50-day simple moving average of $142.97 and a 200 day simple moving average of $122.58. Dycom Industries has a one year low of $78.42 and a one year high of $174.60. The company has a market cap of $5.05 billion, a P/E ratio of 23.63, a P/E/G ratio of 2.02 and a beta of 1.37. The company has a current ratio of 3.06, a quick ratio of 2.85 and a debt-to-equity ratio of 0.75.

Dycom Industries (NYSE:DY) last announced its earnings results on Wednesday, May 22nd. The construction company reported $2.12 EPS for the quarter, beating the consensus estimate of $1.39 by $0.73. Dycom Industries had a return on equity of 22.06% and a net margin of 5.24%. The business had revenue of $1.14 billion during the quarter, compared to the consensus estimate of $1.09 billion. During the same period in the prior year, the business posted $1.73 earnings per share. Dycom Industries’s revenue was up 9.3% compared to the same quarter last year. Equities analysts forecast that Dycom Industries will post 7.14 earnings per share for the current year.

Insider Buying and Selling

In related news, VP Jason T. Lawson sold 220 shares of the firm’s 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 owns 7,793 shares in the company, valued at approximately $1,093,124.11. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 4.28% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Dycom Industries

Several institutional investors have recently bought and sold shares of DY. Peconic Partners LLC increased its stake in shares of Dycom Industries by 0.7% in the 4th quarter. Peconic Partners LLC now owns 3,265,682 shares of the construction company’s stock valued at $375,847,000 after buying an additional 21,635 shares during the period. Vanguard Group Inc. grew its stake in shares of Dycom Industries by 0.4% during the first quarter. Vanguard Group Inc. now owns 3,196,041 shares of the construction company’s stock worth $458,728,000 after purchasing an additional 12,395 shares during the period. Dimensional Fund Advisors LP grew its stake in shares of Dycom Industries by 1.5% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,008,912 shares of the construction company’s stock worth $116,117,000 after purchasing an additional 15,389 shares during the period. FMR LLC grew its stake in shares of Dycom Industries by 3.0% during the third quarter. FMR LLC now owns 674,834 shares of the construction company’s stock worth $60,060,000 after purchasing an additional 19,842 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its stake in shares of Dycom Industries by 4.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 418,969 shares of the construction company’s stock worth $48,219,000 after purchasing an additional 18,063 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.