Dycom Industries (NYSE:DY) PT Raised to $175.00 at Wells Fargo & Company

Dycom Industries (NYSE:DY) had its price objective increased by Wells Fargo & Company from $165.00 to $175.00 in a research note released on Monday, Benzinga reports. They currently have an overweight rating on the construction company’s stock.

A number of other equities analysts also recently issued reports on DY. KeyCorp lifted their price objective on shares of Dycom Industries from $158.00 to $169.00 and gave the stock an overweight rating in a report on Monday, May 13th. B. Riley raised shares of Dycom Industries from a neutral rating to a buy rating and lifted their price objective for the stock from $101.00 to $172.00 in a report on Friday, March 8th. Eight investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of Buy and an average price target of $175.86.

Dycom Industries Stock Performance

Shares of DY stock opened at $177.23 on Monday. The firm has a market capitalization of $5.16 billion, a PE ratio of 24.05, a price-to-earnings-growth ratio of 2.02 and a beta of 1.37. The firm has a fifty day simple moving average of $143.72 and a two-hundred day simple moving average of $122.96. The company has a current ratio of 3.06, a quick ratio of 2.85 and a debt-to-equity ratio of 0.75. Dycom Industries has a 12 month low of $78.42 and a 12 month high of $177.27.

Dycom Industries (NYSE:DY) last posted its quarterly earnings data on Wednesday, May 22nd. The construction company reported $2.12 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.39 by $0.73. The firm had revenue of $1.14 billion for the quarter, compared to the consensus estimate of $1.09 billion. Dycom Industries had a net margin of 5.24% and a return on equity of 22.06%. The business’s revenue for the quarter 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. Analysts forecast that Dycom Industries will post 7.14 EPS for the current fiscal year.

Insider Buying and Selling

In related news, VP Jason T. Lawson sold 220 shares of the business’s stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $140.27, for a total value of $30,859.40. Following the transaction, the vice president now directly owns 7,793 shares of the company’s stock, valued at approximately $1,093,124.11. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 4.28% of the stock is owned by insiders.

Institutional Investors Weigh In On Dycom Industries

Institutional investors have recently added to or reduced their stakes in the business. Allspring Global Investments Holdings LLC purchased a new stake in Dycom Industries during the first quarter valued at about $28,000. Headlands Technologies LLC purchased a new stake in Dycom Industries during the first quarter valued at about $72,000. Quadrant Capital Group LLC lifted its holdings in Dycom Industries by 26.4% during the fourth quarter. Quadrant Capital Group LLC now owns 770 shares of the construction company’s stock valued at $89,000 after purchasing an additional 161 shares during the last quarter. Principal Securities Inc. purchased a new stake in Dycom Industries during the fourth quarter valued at about $142,000. Finally, Strs Ohio lifted its holdings in Dycom Industries by 50.0% during the fourth quarter. Strs Ohio now owns 1,500 shares of the construction company’s stock valued at $172,000 after purchasing an additional 500 shares during the last quarter. 98.33% of the stock is owned by hedge funds and other institutional investors.

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.