Dycom Industries (NYSE:DY) Stock Price Up 5.4% – Here’s Why

Shares of Dycom Industries, Inc. (NYSE:DY) traded up 5.4% during trading on Thursday . The company traded as high as $187.18 and last traded at $186.12. 139,628 shares were traded during mid-day trading, a decline of 53% from the average session volume of 298,686 shares. The stock had previously closed at $176.56.

Analysts Set New Price Targets

DY has been the topic of a number of research reports. KeyCorp boosted their price objective on Dycom Industries from $200.00 to $227.00 and gave the company an “overweight” rating in a research report on Tuesday, October 8th. Wells Fargo & Company increased their price objective on shares of Dycom Industries from $200.00 to $215.00 and gave the company an “overweight” rating in a research note on Friday, November 15th. B. Riley upped their target price 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. DA Davidson restated a “buy” rating and set a $210.00 target price on shares of Dycom Industries in a research report on Tuesday. Finally, StockNews.com downgraded shares of Dycom Industries from a “buy” rating to a “hold” rating in a research report on Friday, July 26th. One investment analyst has rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Dycom Industries currently has a consensus rating of “Buy” and an average price target of $206.13.

Dycom Industries Trading Up 4.7 %

The business has a 50 day moving average of $189.40 and a two-hundred day moving average of $178.80. The firm has a market cap of $5.38 billion, a P/E ratio of 23.19, a PEG ratio of 1.68 and a beta of 1.44. The company has a current ratio of 3.44, a quick ratio of 3.25 and a debt-to-equity ratio of 0.81.

Dycom Industries (NYSE:DY) last posted its earnings results on Wednesday, August 21st. The construction company reported $2.46 EPS for the quarter, beating the consensus estimate of $2.26 by $0.20. The company had revenue of $1.20 billion for 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 for the quarter was up 15.5% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.03 earnings per share. Analysts predict that Dycom Industries, Inc. will post 7.96 earnings per share for the current year.

Institutional Investors Weigh In On Dycom Industries

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Vanguard Group Inc. lifted its position in shares of Dycom Industries by 0.4% during the 1st quarter. Vanguard Group Inc. now owns 3,196,041 shares of the construction company’s stock worth $458,728,000 after buying an additional 12,395 shares during the last quarter. Millennium Management LLC raised its holdings 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 worth $275,324,000 after purchasing an additional 96,846 shares during the last quarter. State Street Corp lifted its holdings in Dycom Industries by 4.0% in the third quarter. State Street Corp now owns 1,158,585 shares of the construction company’s stock valued at $228,357,000 after buying an additional 44,321 shares during the period. FMR LLC boosted its position in shares of Dycom Industries by 2.4% during the 3rd quarter. FMR LLC now owns 772,666 shares of the construction company’s stock valued at $152,292,000 after purchasing an additional 17,862 shares in the last quarter. Finally, Hill City Capital LP boosted its holdings in shares of Dycom Industries by 2.3% during the 3rd quarter. Hill City Capital LP now owns 679,784 shares of the construction company’s stock worth $133,985,000 after buying an additional 15,000 shares in the last quarter. Institutional investors and hedge funds 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.