Dycom Industries (NYSE:DY) Price Target Raised to $227.00

Dycom Industries (NYSE:DY) had its price objective raised by KeyCorp from $200.00 to $227.00 in a research note issued to investors on Tuesday morning, Benzinga reports. They currently have an overweight rating on the construction company’s stock.

Other equities analysts have also recently issued research reports about the stock. StockNews.com cut shares of Dycom Industries from a buy rating to a hold rating in a research note on Friday, July 26th. Bank of America boosted their price target 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 increased their price objective on Dycom Industries from $205.00 to $208.00 and gave the stock a buy rating in a research report on Thursday, August 22nd. Finally, Wells Fargo & Company lifted their price objective on Dycom Industries from $185.00 to $200.00 and gave the company an overweight rating in a research note on Wednesday, July 17th. One research analyst has rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of Buy and a consensus price target of $203.43.

Dycom Industries Price Performance

Dycom Industries stock opened at $188.84 on Tuesday. The firm has a market capitalization of $5.49 billion, a P/E ratio of 24.34, a PEG ratio of 1.57 and a beta of 1.41. Dycom Industries has a one year low of $78.42 and a one year high of $199.77. 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 fifty day moving average price of $184.50 and a 200-day moving average price of $169.17.

Dycom Industries (NYSE:DY) last issued its earnings results on Wednesday, August 21st. The construction company reported $2.46 EPS for the quarter, topping the consensus estimate of $2.26 by $0.20. The business had revenue of $1.20 billion during the quarter, compared to the consensus estimate of $1.20 billion. Dycom Industries had a return on equity of 22.28% and a net margin of 5.37%. The firm’s revenue was up 15.5% compared to the same quarter last year. During the same quarter last year, the company earned $2.03 EPS. As a group, equities research analysts forecast that Dycom Industries will post 8.02 EPS for the current year.

Institutional Investors Weigh In On Dycom Industries

Large investors have recently added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC bought a new position in Dycom Industries during the first quarter valued at approximately $28,000. Anchor Investment Management LLC boosted its stake in shares of Dycom Industries by 50.4% in the 2nd quarter. Anchor Investment Management LLC now owns 194 shares of the construction company’s stock valued at $33,000 after purchasing an additional 65 shares in the last quarter. GAMMA Investing LLC grew its holdings in shares of Dycom Industries by 107.8% during the 2nd 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 last quarter. Signaturefd LLC raised its position in Dycom Industries by 196.7% in the 2nd quarter. Signaturefd LLC now owns 359 shares of the construction company’s stock worth $61,000 after purchasing an additional 238 shares during the period. Finally, SJS Investment Consulting Inc. lifted its stake in Dycom Industries by 5,071.4% in the second quarter. SJS Investment Consulting Inc. now owns 362 shares of the construction company’s stock worth $61,000 after purchasing an additional 355 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.