Dycom Industries (NYSE:DY - Free Report) had its target price lifted by Wells Fargo & Company from $200.00 to $215.00 in a research note published on Friday,Benzinga reports. Wells Fargo & Company currently has an overweight rating on the construction company's stock.
A number of other equities research analysts have also issued reports on the stock. Bank of America upped their price objective on shares of Dycom Industries from $198.00 to $204.00 and gave the company a "buy" rating in a report on Friday, August 23rd. B. Riley upped their target price on shares of Dycom Industries from $205.00 to $208.00 and gave the company a "buy" rating in a research report on Thursday, August 22nd. StockNews.com cut shares of Dycom Industries from a "buy" rating to a "hold" rating in a research report on Friday, July 26th. Finally, KeyCorp upped their target price on shares of Dycom Industries from $200.00 to $227.00 and gave the company an "overweight" rating in a research report on Tuesday, October 8th. One investment analyst has rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Buy" and an average price target of $205.57.
Read Our Latest Stock Analysis on DY
Dycom Industries Stock Performance
DY traded up $2.93 during trading on Friday, reaching $187.59. 571,774 shares of the company's stock were exchanged, compared to its average volume of 290,885. Dycom Industries has a 1 year low of $84.83 and a 1 year high of $207.20. The company has a debt-to-equity ratio of 0.81, a current ratio of 3.44 and a quick ratio of 3.25. The stock has a market capitalization of $5.46 billion, a P/E ratio of 23.30, a price-to-earnings-growth ratio of 1.54 and a beta of 1.44. The company's fifty day simple moving average is $188.73 and its 200-day simple moving average is $177.48.
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 for the quarter, beating the consensus estimate of $2.26 by $0.20. Dycom Industries had a net margin of 5.37% and a return on equity of 22.28%. The firm had revenue of $1.20 billion during the quarter, compared to analyst estimates of $1.20 billion. During the same period in the previous year, the firm earned $2.03 EPS. The business's quarterly revenue was up 15.5% on a year-over-year basis. As a group, research analysts predict that Dycom Industries will post 7.96 earnings per share for the current fiscal year.
Institutional Trading of Dycom Industries
Several hedge funds have recently added to or reduced their stakes in DY. UniSuper Management Pty Ltd purchased a new position in Dycom Industries in the first quarter valued at approximately $794,000. Interval Partners LP acquired a new stake in shares of Dycom Industries during the first quarter worth $5,247,000. Janus Henderson Group PLC lifted its holdings in shares of Dycom Industries by 168.5% during the first quarter. Janus Henderson Group PLC now owns 36,835 shares of the construction company's stock worth $5,287,000 after purchasing an additional 23,117 shares during the period. Hsbc Holdings PLC lifted its holdings in shares of Dycom Industries by 193.7% during the second quarter. Hsbc Holdings PLC now owns 7,819 shares of the construction company's stock worth $1,317,000 after purchasing an additional 5,157 shares during the period. Finally, Assenagon Asset Management S.A. lifted its holdings in Dycom Industries by 2,353.9% in the second 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 period. Institutional investors and hedge funds own 98.33% of the company's stock.
About Dycom Industries
(
Get Free Report)
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.
Featured Stories
Before you consider Dycom Industries, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Dycom Industries wasn't on the list.
While Dycom Industries currently has a "Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Options trading isn’t just for the Wall Street elite; it’s an accessible strategy for anyone armed with the proper knowledge. Think of options as a strategic toolkit, with each tool designed for a specific financial task. Keep reading to learn how options trading can help you use the market’s volatility to your advantage.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
