Brokerages Set Dycom Industries, Inc. (NYSE:DY) Price Target at $203.43

Shares of Dycom Industries, Inc. (NYSE:DY) have received an average recommendation of “Buy” from the seven research firms that are covering the stock, MarketBeat Ratings reports. Six investment 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 brokerages that have updated their coverage on the stock in the last year is $203.43.

Several research analysts have recently issued reports on DY shares. Wells Fargo & Company raised their price objective on Dycom Industries from $185.00 to $200.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 17th. StockNews.com lowered shares of Dycom Industries from a “buy” rating to a “hold” rating in a research report on Friday, July 26th. KeyCorp upped their price objective on shares of Dycom Industries from $200.00 to $227.00 and gave the company an “overweight” rating in a report on Tuesday, October 8th. Bank of America increased their price objective on shares of Dycom Industries from $198.00 to $204.00 and gave the stock a “buy” rating in a research note on Friday, August 23rd. Finally, B. Riley upped their price target on shares of Dycom Industries from $205.00 to $208.00 and gave the company a “buy” rating in a report on Thursday, August 22nd.

Dycom Industries Stock Up 0.3 %

NYSE:DY opened at $195.29 on Tuesday. The company’s 50 day moving average is $187.01 and its two-hundred day moving average is $172.54. The company has a market cap of $5.68 billion, a PE ratio of 25.17, a P/E/G ratio of 1.57 and a beta of 1.41. Dycom Industries has a twelve month low of $78.42 and a twelve month high of $207.20. The company has a current ratio of 3.44, a quick ratio of 3.25 and a debt-to-equity ratio of 0.81.

Dycom Industries (NYSE:DY) last released its earnings results on Wednesday, August 21st. The construction company reported $2.46 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.26 by $0.20. Dycom Industries had a return on equity of 22.28% and a net margin of 5.37%. The firm had revenue of $1.20 billion for the quarter, compared to the consensus estimate of $1.20 billion. During the same period in the prior year, the firm earned $2.03 EPS. The firm’s revenue was up 15.5% on a year-over-year basis. Analysts anticipate that Dycom Industries will post 8.02 EPS for the current year.

Institutional Trading of Dycom Industries

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Annapolis Financial Services LLC purchased a new stake in shares of Dycom Industries during the 3rd quarter worth about $29,000. Allspring Global Investments Holdings LLC acquired a new position in Dycom Industries in the 1st quarter worth about $28,000. Anchor Investment Management LLC boosted its position in Dycom Industries by 50.4% during the second quarter. Anchor Investment Management LLC now owns 194 shares of the construction company’s stock worth $33,000 after purchasing an additional 65 shares in the last quarter. GAMMA Investing LLC grew its holdings in Dycom Industries by 107.8% in the second quarter. GAMMA Investing LLC now owns 293 shares of the construction company’s stock valued at $49,000 after purchasing an additional 152 shares during the period. Finally, Signaturefd LLC increased its position in shares of Dycom Industries by 196.7% in the second quarter. Signaturefd LLC now owns 359 shares of the construction company’s stock valued at $61,000 after buying an additional 238 shares in the last quarter. Institutional investors and hedge funds own 98.33% of the company’s stock.

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.