Dycom Industries, Inc. (NYSE:DY) Receives $205.57 Consensus Target Price from Analysts

Shares of Dycom Industries, Inc. (NYSE:DY) have been assigned a consensus rating of “Buy” from the seven brokerages that are currently covering the company, MarketBeat Ratings reports. Six equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. The average 12 month price objective among brokerages that have issued ratings on the stock in the last year is $205.57.

A number of analysts have recently commented on the company. KeyCorp lifted 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. B. Riley lifted their price target on Dycom Industries from $205.00 to $208.00 and gave the stock a “buy” rating in a research report on Thursday, August 22nd. StockNews.com downgraded Dycom Industries from a “buy” rating to a “hold” rating in a report on Friday, July 26th. Wells Fargo & Company lifted their target price on shares of Dycom Industries from $200.00 to $215.00 and gave the company an “overweight” rating in a report on Friday. Finally, Bank of America raised their price objective 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.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. 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. Renaissance Technologies LLC grew its position in Dycom Industries by 2,543.6% during the second quarter. Renaissance Technologies LLC now owns 103,100 shares of the construction company’s stock worth $17,399,000 after buying an additional 99,200 shares during the period. International Assets Investment Management LLC purchased a new position in Dycom Industries in the third quarter valued at about $19,424,000. Millennium Management LLC boosted its stake in shares of Dycom Industries by 6.3% during the 2nd quarter. Millennium Management LLC now owns 1,631,453 shares of the construction company’s stock worth $275,324,000 after acquiring an additional 96,846 shares in the last quarter. Finally, Appian Way Asset Management LP grew its holdings in shares of Dycom Industries by 84.2% in the 1st quarter. Appian Way Asset Management LP now owns 197,364 shares of the construction company’s stock worth $28,328,000 after acquiring an additional 90,198 shares during the period. 98.33% of the stock is owned by hedge funds and other institutional investors.

Dycom Industries Price Performance

DY stock opened at $195.83 on Friday. The business has a 50 day moving average price of $188.73 and a 200 day moving average price of $178.01. 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 stock has a market cap of $5.70 billion, a price-to-earnings ratio of 24.33, a PEG ratio of 1.55 and a beta of 1.44. Dycom Industries has a fifty-two week low of $84.83 and a fifty-two week high of $207.20.

Dycom Industries (NYSE:DY) last issued 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 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 quarter in the prior year, the business posted $2.03 EPS. The company’s revenue for the quarter was up 15.5% on a year-over-year basis. Equities research analysts anticipate that Dycom Industries will post 7.96 earnings per share for the current fiscal year.

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.