Raymond James Raises Dycom Industries (NYSE:DY) Price Target to $195.00

Dycom Industries (NYSE:DY) had its price objective increased by Raymond James from $143.00 to $195.00 in a report issued on Thursday morning, Benzinga reports. The brokerage currently has a strong-buy rating on the construction company’s stock.

A number of other equities analysts have also recently commented on DY. B. Riley upgraded Dycom Industries from a neutral rating to a buy rating and raised their target price for the company from $101.00 to $172.00 in a report on Friday, March 8th. KeyCorp raised their price objective on shares of Dycom Industries from $169.00 to $179.00 and gave the company an overweight rating in a research note on Thursday. Finally, Wells Fargo & Company upped their target price on shares of Dycom Industries from $165.00 to $175.00 and gave the stock an overweight rating in a research note on Monday, May 20th. Eight research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of Buy and an average target price of $175.86.

Dycom Industries Price Performance

Dycom Industries stock opened at $179.73 on Thursday. The company’s 50 day simple moving average is $144.46 and its 200-day simple moving average is $123.63. The company has a debt-to-equity ratio of 0.78, a quick ratio of 2.85 and a current ratio of 3.17. Dycom Industries has a 1 year low of $78.42 and a 1 year high of $181.60. The company has a market capitalization of $5.23 billion, a price-to-earnings ratio of 23.16, a price-to-earnings-growth ratio of 2.32 and a beta of 1.37.

Dycom Industries (NYSE:DY) last announced its earnings results on Wednesday, May 22nd. The construction company reported $2.12 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.39 by $0.73. Dycom Industries had a return on equity of 22.15% and a net margin of 5.38%. The company had revenue of $1.14 billion for the quarter, compared to analyst estimates of $1.09 billion. During the same quarter in the previous year, the company earned $1.73 earnings per share. The firm’s quarterly revenue was up 9.3% compared to the same quarter last year. As a group, equities research analysts expect that Dycom Industries will post 7.14 earnings per share for the current year.

Insider Buying and Selling

In related news, VP Jason T. Lawson sold 220 shares of Dycom Industries stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $140.27, for a total value of $30,859.40. Following the completion of the transaction, the vice president now owns 7,793 shares in the company, valued at $1,093,124.11. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 4.28% of the company’s stock.

Hedge Funds Weigh In On Dycom Industries

Several large investors have recently bought and sold shares of DY. Allspring Global Investments Holdings LLC acquired a new position in shares of Dycom Industries during the 1st quarter worth about $28,000. Headlands Technologies LLC purchased a new position in Dycom Industries in the first quarter valued at approximately $72,000. Quadrant Capital Group LLC raised its holdings in Dycom Industries by 26.4% during the fourth quarter. Quadrant Capital Group LLC now owns 770 shares of the construction company’s stock worth $89,000 after purchasing an additional 161 shares in the last quarter. Principal Securities Inc. purchased a new stake in shares of Dycom Industries during the 4th quarter worth approximately $142,000. Finally, Strs Ohio boosted its holdings in shares of Dycom Industries by 50.0% in the 4th quarter. Strs Ohio now owns 1,500 shares of the construction company’s stock valued at $172,000 after buying an additional 500 shares in the last quarter. Hedge funds and other institutional investors own 98.33% of the company’s stock.

Dycom Industries Company Profile

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.