Dycom Industries (NYSE:DY) Stock Price Down 3.3% - What's Next?

Shares of Dycom Industries, Inc. (NYSE:DY - Get Free Report) fell 3.3% on Monday . The stock traded as low as $184.05 and last traded at $185.74. 181,773 shares changed hands during trading, a decline of 33% from the average session volume of 273,238 shares. The stock had previously closed at $192.06.

Analysts Set New Price Targets

Several analysts recently weighed in on the stock. Wells Fargo & Company lifted their price objective on shares of Dycom Industries from $185.00 to $200.00 and gave the company an "overweight" rating in a research report on Wednesday, July 17th. StockNews.com downgraded shares of Dycom Industries from a "buy" rating to a "hold" rating in a report on Friday, July 26th. Bank of America lifted their target price on shares of Dycom Industries from $198.00 to $204.00 and gave the stock a "buy" rating in a research report on Friday, August 23rd. B. Riley lifted their target price 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. Finally, KeyCorp lifted their target price on shares of Dycom Industries from $200.00 to $227.00 and gave the stock an "overweight" rating in a research report on Tuesday, October 8th. One 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 company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Buy" and an average price target of $203.43.

Dycom Industries Price Performance

The stock's 50 day moving average price is $186.98 and its two-hundred day moving average price is $173.35. 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 firm has a market capitalization of $5.48 billion, a price-to-earnings ratio of 24.75, a PEG ratio of 1.61 and a beta of 1.41.

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

Hedge Funds Weigh In On Dycom Industries

Several large investors have recently bought and sold shares of DY. Allspring Global Investments Holdings LLC bought a new stake in Dycom Industries in the 1st quarter valued at $28,000. Commonwealth Equity Services LLC increased its holdings in Dycom Industries by 4.2% in the 1st quarter. Commonwealth Equity Services LLC now owns 4,201 shares of the construction company's stock valued at $603,000 after buying an additional 168 shares during the period. BNP Paribas Financial Markets increased its holdings in Dycom Industries by 33.1% in the 1st quarter. BNP Paribas Financial Markets now owns 32,256 shares of the construction company's stock valued at $4,630,000 after buying an additional 8,028 shares during the period. Hussman Strategic Advisors Inc. bought a new stake in Dycom Industries in the 1st quarter valued at $1,808,000. Finally, Thompson Davis & CO. Inc. grew its holdings in shares of Dycom Industries by 2.9% in the 1st quarter. Thompson Davis & CO. Inc. now owns 2,675 shares of the construction company's stock worth $384,000 after purchasing an additional 75 shares during the last quarter. 98.33% of the stock is currently owned by institutional investors and hedge funds.

About Dycom Industries

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.

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