Dycom Industries (NYSE:DY) Price Target Raised to $215.00 at Wells Fargo & Company

Dycom Industries (NYSE:DY) had its price objective increased by Wells Fargo & Company from $200.00 to $215.00 in a report released on Friday,Benzinga reports. They currently have an overweight rating on the construction company’s stock.

DY has been the subject of a number of other research reports. B. Riley lifted their target price on Dycom Industries from $205.00 to $208.00 and gave the stock a “buy” rating in a 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. Bank of America boosted their target price on Dycom Industries from $198.00 to $204.00 and gave the stock a “buy” rating in a research report on Friday, August 23rd. Finally, KeyCorp lifted their price target on shares of Dycom Industries from $200.00 to $227.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 8th. One analyst has rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus target price of $205.57.

Dycom Industries Price Performance

Shares of NYSE:DY opened at $195.83 on Friday. The business has a fifty day moving average price of $188.73 and a 200-day moving average price of $178.01. 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 company has a market capitalization of $5.70 billion, a PE ratio of 24.33, a PEG ratio of 1.55 and a beta of 1.44. Dycom Industries has a 1-year low of $84.83 and a 1-year 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, topping 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 period in the previous year, the company earned $2.03 earnings per share. The business’s revenue for the quarter was up 15.5% compared to the same quarter last year. As a group, equities analysts expect that Dycom Industries will post 7.96 EPS for the current fiscal year.

Institutional Trading of Dycom Industries

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in DY. Allspring Global Investments Holdings LLC bought a new stake in shares of Dycom Industries during the 1st quarter valued at $28,000. Avantax Advisory Services Inc. bought a new stake in Dycom Industries during the first quarter valued at about $220,000. ProShare Advisors LLC raised its stake in shares of Dycom Industries by 7.4% in the first quarter. ProShare Advisors LLC now owns 5,796 shares of the construction company’s stock worth $832,000 after buying an additional 399 shares during the period. Vanguard Group Inc. raised its stake in shares of Dycom Industries by 0.4% in the first quarter. Vanguard Group Inc. now owns 3,196,041 shares of the construction company’s stock worth $458,728,000 after buying an additional 12,395 shares during the period. Finally, O Shaughnessy Asset Management LLC bought a new position in shares of Dycom Industries during the 1st quarter valued at approximately $250,000. 98.33% of the stock is owned by hedge funds and other institutional investors.

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.