Dycom Industries (NYSE:DY) Price Target Increased to $120.00 by Analysts at B. Riley

Dycom Industries (NYSE:DY) had its price target hoisted by B. Riley from $86.00 to $120.00 in a research report released on Wednesday, The Fly reports. B. Riley currently has a buy rating on the construction company’s stock.

A number of other equities research analysts have also recently issued reports on DY. Wells Fargo & Company upped their price objective on Dycom Industries from $85.00 to $110.00 and gave the stock an overweight rating in a research note on Wednesday. KeyCorp increased their price target on shares of Dycom Industries from $104.00 to $115.00 and gave the company an overweight rating in a research note on Wednesday. Craig Hallum lifted their price objective on shares of Dycom Industries from $110.00 to $121.00 and gave the company a buy rating in a research report on Wednesday. DA Davidson upped their target price on shares of Dycom Industries from $85.00 to $115.00 and gave the company a buy rating in a report on Wednesday. Finally, Zacks Investment Research cut Dycom Industries from a hold rating to a sell rating and set a $74.00 price target for the company. in a report on Wednesday, August 4th. One research analyst has rated the stock with a sell rating and five have given a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of Buy and an average price target of $109.17.

Dycom Industries stock opened at $98.97 on Wednesday. The company has a current ratio of 3.30, a quick ratio of 3.15 and a debt-to-equity ratio of 1.07. Dycom Industries has a 1-year low of $61.50 and a 1-year high of $105.28. The company has a fifty day simple moving average of $76.98 and a 200 day simple moving average of $75.57. The company has a market cap of $2.99 billion, a P/E ratio of 64.27 and a beta of 1.59.

Dycom Industries (NYSE:DY) last announced its quarterly earnings data on Monday, November 22nd. The construction company reported $0.95 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.69 by $0.26. Dycom Industries had a return on equity of 5.95% and a net margin of 1.59%. The company had revenue of $854.00 million during the quarter, compared to analysts’ expectations of $815.89 million. During the same quarter last year, the company earned $1.06 EPS. Dycom Industries’s revenue for the quarter was up 5.4% compared to the same quarter last year. On average, equities research analysts forecast that Dycom Industries will post 1.35 EPS for the current year.

A number of institutional investors have recently added to or reduced their stakes in the business. American Century Companies Inc. increased its position in Dycom Industries by 103.3% during the 2nd quarter. American Century Companies Inc. now owns 1,130,061 shares of the construction company’s stock worth $84,223,000 after buying an additional 574,190 shares during the period. William Blair Investment Management LLC grew its stake in shares of Dycom Industries by 68,745.3% in the third quarter. William Blair Investment Management LLC now owns 444,052 shares of the construction company’s stock valued at $31,634,000 after acquiring an additional 443,407 shares in the last quarter. Goldman Sachs Group Inc. increased its position in Dycom Industries by 196.6% during the second quarter. Goldman Sachs Group Inc. now owns 665,087 shares of the construction company’s stock worth $49,569,000 after acquiring an additional 440,884 shares during the period. Point72 Asset Management L.P. acquired a new stake in Dycom Industries in the 3rd quarter worth about $25,440,000. Finally, Peconic Partners LLC boosted its holdings in Dycom Industries by 33.8% in the 2nd quarter. Peconic Partners LLC now owns 973,384 shares of the construction company’s stock valued at $72,546,000 after purchasing an additional 245,719 shares during the period. 92.20% of the stock is currently owned by hedge funds and other institutional investors.

Dycom Industries Company Profile

Dycom Industries, Inc provides contracting services throughout the United States. Its services include engineering, construction, maintenance and installation services to telecommunications providers, underground facility locating services to various utilities, including other construction and maintenance services to electric and gas utilities, and others.

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