KeyCorp Raises Dycom Industries (NYSE:DY) Price Target to $179.00

Dycom Industries (NYSE:DY) had its price objective upped by equities research analysts at KeyCorp from $169.00 to $179.00 in a research note issued to investors on Thursday, Benzinga reports. The brokerage presently has an “overweight” rating on the construction company’s stock. KeyCorp’s target price would indicate a potential upside of 7.23% from the company’s current price.

DY has been the subject of a number of other research reports. B. Riley upgraded Dycom Industries from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $101.00 to $172.00 in a research report on Friday, March 8th. Wells Fargo & Company upped their target price on Dycom Industries from $165.00 to $175.00 and gave the company an “overweight” rating in a report on Monday. One investment 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 stock. According to data from MarketBeat.com, the company has an average rating of “Buy” and a consensus target price of $148.83.

Dycom Industries Stock Up 8.1 %

DY opened at $166.93 on Thursday. The company has a debt-to-equity ratio of 0.75, a current ratio of 3.06 and a quick ratio of 2.85. The stock has a market capitalization of $4.86 billion, a price-to-earnings ratio of 22.65, a price-to-earnings-growth ratio of 2.02 and a beta of 1.37. The business has a 50-day moving average of $142.97 and a two-hundred day moving average of $122.58. Dycom Industries has a 12 month low of $78.42 and a 12 month high of $170.39.

Dycom Industries (NYSE:DY) last released its quarterly earnings data 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). The firm had revenue of $952.50 million during the quarter, compared to analyst estimates of $968.87 million. Dycom Industries had a net margin of 5.24% and a return on equity of 22.06%. The business’s revenue for the quarter was up 3.8% on a year-over-year basis. During the same period in the prior year, the firm earned $0.83 earnings per share. On average, research analysts expect that Dycom Industries will post 7.14 earnings per share for the current year.

Insider Activity

In other news, VP Jason T. Lawson sold 220 shares of Dycom Industries stock in a transaction on Monday, April 1st. The stock was sold at an average price of $140.27, for a total value of $30,859.40. Following the completion of the sale, the vice president now directly owns 7,793 shares of the company’s stock, valued at approximately $1,093,124.11. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 4.28% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in DY. Peconic Partners LLC raised 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 purchasing an additional 21,635 shares during the period. Vanguard Group Inc. raised its stake in shares of Dycom Industries by 0.4% in the 1st 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 4th quarter. Dimensional Fund Advisors LP now owns 1,008,912 shares of the construction company’s stock valued at $116,117,000 after purchasing an additional 15,389 shares during the period. FMR LLC raised its stake in shares of Dycom Industries by 3.0% in the 3rd quarter. FMR LLC now owns 674,834 shares of the construction company’s stock valued at $60,060,000 after purchasing an additional 19,842 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its stake in shares of Dycom Industries by 4.5% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 418,969 shares of the construction company’s stock valued at $48,219,000 after purchasing an additional 18,063 shares during the period. 98.33% of the stock is currently owned by 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.