Dycom Industries (NYSE:DY) Reaches New 12-Month High - Still a Buy?

Shares of Dycom Industries, Inc. (NYSE:DY - Get Free Report) reached a new 52-week high on Monday . The company traded as high as $205.00 and last traded at $205.00, with a volume of 30999 shares. The stock had previously closed at $198.33.

Analysts Set New Price Targets

Several research analysts recently commented on the company. KeyCorp raised their target price on Dycom Industries from $200.00 to $227.00 and gave the stock an "overweight" rating in a research report on Tuesday, October 8th. Bank of America lifted their target price on shares of Dycom Industries from $198.00 to $204.00 and gave the company a "buy" rating in a research report on Friday, August 23rd. B. Riley increased their price target on shares of Dycom Industries from $205.00 to $208.00 and gave the stock a "buy" rating in a research report on Thursday, August 22nd. Wells Fargo & Company lifted their price objective on Dycom Industries from $185.00 to $200.00 and gave the company an "overweight" rating in a report on Wednesday, July 17th. Finally, StockNews.com cut Dycom Industries from a "buy" rating to a "hold" rating in a report on Friday, July 26th. One research analyst has rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, Dycom Industries has a consensus rating of "Buy" and an average price target of $203.43.

Dycom Industries Trading Up 2.2 %

The company's fifty day moving average price is $186.57 and its two-hundred day moving average price is $171.85. The company has a quick ratio of 3.25, a current ratio of 3.44 and a debt-to-equity ratio of 0.81. The company has a market cap of $5.90 billion, a price-to-earnings ratio of 26.13, a price-to-earnings-growth ratio of 1.57 and a beta of 1.41.

Dycom Industries (NYSE:DY - Get Free Report) last released its quarterly earnings results on Wednesday, August 21st. The construction company reported $2.46 earnings per share for the quarter, beating analysts' consensus estimates of $2.26 by $0.20. The firm had revenue of $1.20 billion during the quarter, compared to analysts' expectations of $1.20 billion. Dycom Industries had a return on equity of 22.28% and a net margin of 5.37%. The business's revenue was up 15.5% on a year-over-year basis. During the same period last year, the firm posted $2.03 EPS. Research analysts expect that Dycom Industries, Inc. will post 8.02 earnings per share for the current year.

Hedge Funds Weigh In On Dycom Industries

Large investors have recently modified their holdings of the stock. Vanguard Group Inc. raised its position in shares of Dycom Industries by 1.3% during the fourth quarter. Vanguard Group Inc. now owns 3,183,646 shares of the construction company's stock worth $366,406,000 after acquiring an additional 42,121 shares during the last quarter. Los Angeles Capital Management LLC raised its holdings in Dycom Industries by 143.5% during the 1st quarter. Los Angeles Capital Management LLC now owns 8,308 shares of the construction company's stock worth $1,192,000 after purchasing an additional 4,896 shares during the last quarter. First Bank & Trust lifted its position in Dycom Industries by 5.7% during the 1st quarter. First Bank & Trust now owns 2,013 shares of the construction company's stock valued at $289,000 after purchasing an additional 108 shares during the period. Allspring Global Investments Holdings LLC bought a new position in shares of Dycom Industries in the 1st quarter valued at about $28,000. Finally, Commonwealth Equity Services LLC grew its position in shares of Dycom Industries by 4.2% during the 1st 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 during the period. 98.33% of the stock is currently owned by institutional investors and hedge funds.

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.