Dycom Industries, Inc. (NYSE:DY) Receives Average Recommendation of "Buy" from Analysts

Dycom Industries, Inc. (NYSE:DY - Get Free Report) has earned a consensus rating of "Buy" from the seven analysts that are currently covering the company, Marketbeat Ratings reports. Six analysts have rated the stock with a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month price objective among analysts that have updated their coverage on the stock in the last year is $205.57.

Several brokerages recently weighed in on DY. Wells Fargo & Company lifted their price target on Dycom Industries from $200.00 to $215.00 and gave the company an "overweight" rating in a research report on Friday. Bank of America boosted their target price on shares of Dycom Industries from $198.00 to $204.00 and gave the company a "buy" rating in a research note on Friday, August 23rd. StockNews.com lowered shares of Dycom Industries from a "buy" rating to a "hold" rating in a research report on Friday, July 26th. KeyCorp raised their target price on Dycom Industries from $200.00 to $227.00 and gave the company an "overweight" rating in a research report on Tuesday, October 8th. Finally, B. Riley upped their price target on Dycom Industries from $205.00 to $208.00 and gave the stock a "buy" rating in a report on Thursday, August 22nd.

Institutional Investors Weigh In On Dycom Industries

Large investors have recently modified their holdings of the business. UniSuper Management Pty Ltd purchased a new stake in shares of Dycom Industries in the first quarter valued at approximately $794,000. Interval Partners LP purchased a new stake in Dycom Industries in the 1st quarter valued at $5,247,000. Janus Henderson Group PLC raised its holdings in shares of Dycom Industries by 168.5% during the 1st quarter. Janus Henderson Group PLC now owns 36,835 shares of the construction company's stock worth $5,287,000 after acquiring an additional 23,117 shares during the period. Hsbc Holdings PLC raised its holdings in shares of Dycom Industries by 193.7% during the 2nd quarter. Hsbc Holdings PLC now owns 7,819 shares of the construction company's stock worth $1,317,000 after acquiring an additional 5,157 shares during the period. Finally, Assenagon Asset Management S.A. boosted its position in shares of Dycom Industries by 2,353.9% during the 2nd quarter. Assenagon Asset Management S.A. now owns 158,988 shares of the construction company's stock valued at $26,831,000 after acquiring an additional 152,509 shares during the last quarter. Hedge funds and other institutional investors own 98.33% of the company's stock.

Dycom Industries Stock Performance

DY traded up $2.86 during trading on Friday, reaching $187.52. 571,774 shares of the company's stock were exchanged, compared to its average volume of 290,885. The company has a debt-to-equity ratio of 0.81, a current ratio of 3.44 and a quick ratio of 3.25. Dycom Industries has a 1 year low of $84.83 and a 1 year high of $207.20. The company's fifty day simple moving average is $188.73 and its 200-day simple moving average is $177.74. The stock has a market capitalization of $5.46 billion, a P/E ratio of 23.29, a price-to-earnings-growth ratio of 1.54 and a beta of 1.44.

Dycom Industries (NYSE:DY - Get Free Report) last posted its earnings results on Wednesday, August 21st. The construction company reported $2.46 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.26 by $0.20. The company had revenue of $1.20 billion during the quarter, compared to the consensus estimate of $1.20 billion. Dycom Industries had a net margin of 5.37% and a return on equity of 22.28%. The firm's quarterly revenue was up 15.5% on a year-over-year basis. During the same period in the previous year, the firm posted $2.03 earnings per share. As a group, research analysts predict that Dycom Industries will post 7.96 earnings per share for the current fiscal year.

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.