Dycom Industries (NYSE:DY) PT Raised to $179.00

Dycom Industries (NYSE:DY) had its price objective raised by KeyCorp from $169.00 to $179.00 in a report published on Thursday, Benzinga reports. KeyCorp currently has an overweight rating on the construction company’s stock.

Other analysts have also issued research reports about the company. Wells Fargo & Company upped their price objective on Dycom Industries from $165.00 to $175.00 and gave the company an overweight rating in a research note on Monday, May 20th. B. Riley upgraded shares of 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 research report on Friday, March 8th. Eight analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of Buy and a consensus price target of $175.86.

Dycom Industries Trading Up 1.4 %

Shares of NYSE DY 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 $123.92. The company has a debt-to-equity ratio of 0.78, a current ratio of 3.17 and a quick ratio of 2.85. Dycom Industries has a fifty-two week low of $78.42 and a fifty-two week high of $181.60. The firm has a market capitalization of $5.23 billion, a P/E ratio of 23.16, a P/E/G ratio of 2.35 and a beta of 1.37.

Dycom Industries (NYSE:DY) last issued its quarterly earnings data on Wednesday, May 22nd. The construction company reported $2.12 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.39 by $0.73. The business had revenue of $1.14 billion during the quarter, compared to analyst estimates of $1.09 billion. Dycom Industries had a return on equity of 22.15% and a net margin of 5.38%. Dycom Industries’s quarterly revenue was up 9.3% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.73 EPS. On average, analysts predict that Dycom Industries will post 7.62 EPS for the current year.

Insider Transactions at Dycom Industries

In related news, VP Jason T. Lawson sold 220 shares of the stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $140.27, for a total transaction of $30,859.40. Following the completion of the sale, the vice president now directly owns 7,793 shares of the company’s stock, valued at $1,093,124.11. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 4.28% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Cubic Asset Management LLC raised its holdings in shares of Dycom Industries by 171.6% in the 4th quarter. Cubic Asset Management LLC now owns 11,882 shares of the construction company’s stock worth $1,367,000 after purchasing an additional 7,507 shares during the period. International Assets Investment Management LLC purchased a new position in shares of Dycom Industries during the 4th quarter valued at $6,623,000. Peconic Partners LLC increased its holdings in Dycom Industries by 2.9% in the 3rd quarter. Peconic Partners LLC now owns 3,244,047 shares of the construction company’s stock worth $288,720,000 after acquiring an additional 91,093 shares during the last quarter. Invesco Ltd. raised its stake in Dycom Industries by 7.3% in the 3rd quarter. Invesco Ltd. now owns 122,809 shares of the construction company’s stock valued at $10,930,000 after acquiring an additional 8,316 shares during the period. Finally, abrdn plc raised its stake in Dycom Industries by 275.0% in the 3rd quarter. abrdn plc now owns 15,000 shares of the construction company’s stock valued at $1,335,000 after acquiring an additional 11,000 shares during the period. 98.33% of the stock is currently 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.