Wells Fargo & Company Issues Positive Forecast for Dycom Industries (NYSE:DY) Stock Price

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

DY has been the topic of several other research reports. KeyCorp raised their price target on 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 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 raised their price objective on shares of Dycom Industries from $205.00 to $208.00 and gave the company a “buy” rating in a research report on Thursday, August 22nd. Finally, StockNews.com lowered shares of Dycom Industries from a “buy” rating to a “hold” rating in a research report on Friday, July 26th. One investment analyst has rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Dycom Industries presently has an average rating of “Buy” and an average target price of $205.57.

Dycom Industries Stock Up 1.5 %

Shares of NYSE DY traded up $2.86 during mid-day trading on Friday, reaching $187.52. 571,774 shares of the company’s stock traded hands, compared to its average volume of 290,885. 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 business has a 50-day simple moving average of $188.73 and a 200 day simple moving average of $177.48. The stock has a market cap of $5.46 billion, a P/E ratio of 23.30, a PEG ratio of 1.54 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, beating analysts’ consensus estimates of $2.26 by $0.20. The business had revenue of $1.20 billion for the quarter, compared to analysts’ expectations of $1.20 billion. Dycom Industries had a net margin of 5.37% and a return on equity of 22.28%. The business’s revenue for the quarter was up 15.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.03 EPS. On average, analysts expect that Dycom Industries will post 7.96 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in DY. Accent Capital Management LLC bought a new position in Dycom Industries in the 3rd quarter valued at approximately $25,000. Annapolis Financial Services LLC purchased a new position in Dycom Industries in the 3rd quarter worth about $29,000. Legacy Investment Solutions LLC bought a new position in Dycom Industries during the 3rd quarter valued at about $28,000. Allspring Global Investments Holdings LLC purchased a new stake in shares of Dycom Industries during the 1st quarter valued at about $28,000. Finally, Anchor Investment Management LLC boosted its holdings in shares of Dycom Industries by 50.4% during the 2nd quarter. Anchor Investment Management LLC now owns 194 shares of the construction company’s stock valued at $33,000 after acquiring an additional 65 shares during the last quarter. Hedge funds and other institutional investors 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.