Analysts Set Dycom Industries, Inc. (NYSE:DY) PT at $199.57

Dycom Industries, Inc. (NYSE:DY) has been given a consensus recommendation of “Buy” by the seven brokerages that are presently covering the company, Marketbeat Ratings reports. Six equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. The average 1-year price objective among brokerages that have covered the stock in the last year is $199.57.

Several analysts have recently weighed in on DY shares. Wells Fargo & Company raised their target price on Dycom Industries from $185.00 to $200.00 and gave the company an “overweight” rating in a research note on Wednesday, July 17th. StockNews.com downgraded Dycom Industries from a “buy” rating to a “hold” rating in a report on Friday, July 26th. Bank of America increased their target price on Dycom Industries from $198.00 to $204.00 and gave the company a “buy” rating in a research note on Friday, August 23rd. KeyCorp lifted their price target on shares of Dycom Industries from $195.00 to $200.00 and gave the stock an “overweight” rating in a research note on Thursday, August 22nd. Finally, B. Riley increased their price objective on shares of Dycom Industries from $205.00 to $208.00 and gave the company a “buy” rating in a research note on Thursday, August 22nd.

Dycom Industries Stock Down 2.5 %

NYSE DY opened at $192.18 on Friday. The company has a quick ratio of 3.25, a current ratio of 3.44 and a debt-to-equity ratio of 0.81. Dycom Industries has a fifty-two week low of $78.42 and a fifty-two week high of $199.77. The business has a 50 day moving average price of $182.32 and a two-hundred day moving average price of $166.49. The stock has a market cap of $5.59 billion, a PE ratio of 24.77, a P/E/G ratio of 2.09 and a beta of 1.41.

Dycom Industries (NYSE:DY) last announced its earnings results on Wednesday, August 21st. The construction company reported $2.46 earnings per share for the quarter, beating 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 the consensus estimate of $1.20 billion. During the same period in the prior year, the firm earned $2.03 earnings per share. The business’s quarterly revenue was up 15.5% compared to the same quarter last year. As a group, sell-side analysts predict that Dycom Industries will post 8.02 EPS for the current fiscal year.

Insider Activity at Dycom Industries

In other news, VP Jason T. Lawson sold 856 shares of the firm’s stock in a transaction dated Thursday, July 11th. The shares were sold at an average price of $174.48, for a total value of $149,354.88. Following the transaction, the vice president now directly owns 6,937 shares in the company, valued at approximately $1,210,367.76. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 4.28% of the company’s stock.

Institutional Trading of Dycom Industries

Institutional investors and hedge funds have recently made changes to their positions in the stock. Allspring Global Investments Holdings LLC bought a new position in shares of Dycom Industries during the first quarter worth about $28,000. Anchor Investment Management LLC boosted its stake in 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 purchasing an additional 65 shares during the period. GAMMA Investing LLC grew its position in Dycom Industries by 107.8% in the 2nd quarter. GAMMA Investing LLC now owns 293 shares of the construction company’s stock worth $49,000 after purchasing an additional 152 shares during the last quarter. Signaturefd LLC increased its stake in shares of Dycom Industries by 196.7% in the second quarter. Signaturefd LLC now owns 359 shares of the construction company’s stock valued at $61,000 after purchasing an additional 238 shares during the period. Finally, SJS Investment Consulting Inc. raised its holdings in shares of Dycom Industries by 5,071.4% during the second quarter. SJS Investment Consulting Inc. now owns 362 shares of the construction company’s stock valued at $61,000 after buying an additional 355 shares during the last quarter. 98.33% of the stock is currently owned by institutional investors and hedge funds.

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.