Dycom Industries (NYSE:DY) Sets New 52-Week High – What’s Next?

Shares of Dycom Industries, Inc. (NYSE:DY) hit a new 52-week high during trading on Monday . The stock traded as high as $205.00 and last traded at $205.00, with a volume of 30999 shares. The stock had previously closed at $198.33.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the company. Wells Fargo & Company lifted their price target on Dycom Industries from $185.00 to $200.00 and gave the company an “overweight” rating in a research note on Wednesday, July 17th. B. Riley raised their price objective on Dycom Industries from $205.00 to $208.00 and gave the company a “buy” rating in a report on Thursday, August 22nd. KeyCorp upped their target price on Dycom Industries from $200.00 to $227.00 and gave the stock an “overweight” rating in a report on Tuesday, October 8th. Bank of America increased their price objective on Dycom Industries from $198.00 to $204.00 and gave the company a “buy” rating in a report on Friday, August 23rd. Finally, StockNews.com lowered shares of Dycom Industries from a “buy” rating to a “hold” rating in a research note on Friday, July 26th. One investment analyst has rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of $203.43.

Dycom Industries Price Performance

The company has a fifty day simple moving average of $186.14 and a two-hundred day simple moving average of $171.40. The stock has a market capitalization of $5.80 billion, a price-to-earnings ratio of 25.56, a PEG ratio of 1.57 and a beta of 1.41. The company has a debt-to-equity ratio of 0.81, a quick ratio of 3.25 and a current ratio of 3.44.

Dycom Industries (NYSE:DY) last posted its quarterly earnings results on Wednesday, August 21st. The construction company reported $2.46 EPS for the quarter, beating analysts’ consensus estimates 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%. Dycom Industries’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 earned $2.03 earnings per share. As a group, equities research analysts expect that Dycom Industries, Inc. will post 8.02 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Dycom Industries

A number of large investors have recently modified their holdings of DY. Assenagon Asset Management S.A. grew its stake in shares of Dycom Industries by 2,353.9% during the second quarter. Assenagon Asset Management S.A. now owns 158,988 shares of the construction company’s stock worth $26,831,000 after buying an additional 152,509 shares during the last quarter. Renaissance Technologies LLC grew its stake in shares of Dycom Industries by 2,543.6% in the 2nd quarter. Renaissance Technologies LLC now owns 103,100 shares of the construction company’s stock valued at $17,399,000 after buying an additional 99,200 shares during the period. Millennium Management LLC increased its stake in Dycom Industries by 6.3% during the 2nd quarter. Millennium Management LLC now owns 1,631,453 shares of the construction company’s stock valued at $275,324,000 after purchasing an additional 96,846 shares in the last quarter. Appian Way Asset Management LP lifted its holdings in shares of Dycom Industries by 84.2% in the first quarter. Appian Way Asset Management LP now owns 197,364 shares of the construction company’s stock valued at $28,328,000 after purchasing an additional 90,198 shares in the last quarter. Finally, Vanguard Group Inc. boosted its position in shares of Dycom Industries by 1.3% during the fourth quarter. Vanguard Group Inc. now owns 3,183,646 shares of the construction company’s stock valued at $366,406,000 after buying an additional 42,121 shares during the last quarter. Institutional investors and hedge funds 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.