Dycom Industries (NYSE:DY) Price Target Raised to $190.00 at Craig Hallum

Dycom Industries (NYSE:DY) had its target price hoisted by Craig Hallum from $145.00 to $190.00 in a research note released on Thursday morning, Benzinga reports. The brokerage currently has a buy rating on the construction company’s stock.

A number of other equities analysts have also recently commented on DY. UBS Group boosted their price target on shares of Dycom Industries from $175.00 to $200.00 and gave the stock a buy rating in a research note on Thursday. Wells Fargo & Company increased their target price on Dycom Industries from $165.00 to $175.00 and gave the company an overweight rating in a research note on Monday, May 20th. KeyCorp lifted their price target on Dycom Industries from $169.00 to $179.00 and gave the stock an overweight rating in a research note on Thursday. Raymond James increased their price objective on Dycom Industries from $143.00 to $195.00 and gave the company a strong-buy rating in a research report on Thursday. Finally, B. Riley upgraded Dycom Industries from a neutral rating to a buy rating and boosted their target price for the stock from $101.00 to $172.00 in a research report on Friday, March 8th. Eight equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of Buy and a consensus price target of $175.86.

Dycom Industries Price Performance

NYSE:DY opened at $179.73 on Thursday. Dycom Industries has a 52-week low of $78.42 and a 52-week high of $181.60. The stock has a fifty day moving average of $144.46 and a 200 day moving average of $123.92. The company has a debt-to-equity ratio of 0.78, a quick ratio of 2.85 and a current ratio of 3.17. The firm has a market capitalization of $5.23 billion, a price-to-earnings ratio of 23.16, a P/E/G ratio of 2.35 and a beta of 1.37.

Dycom Industries (NYSE:DY) last issued its quarterly earnings results on Wednesday, May 22nd. The construction company reported $2.12 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.39 by $0.73. Dycom Industries had a return on equity of 22.15% and a net margin of 5.38%. The firm had revenue of $1.14 billion during the quarter, compared to the consensus estimate of $1.09 billion. During the same quarter last year, the company posted $1.73 EPS. The company’s revenue for the quarter was up 9.3% on a year-over-year basis. On average, research analysts expect that Dycom Industries will post 7.62 EPS for the current fiscal year.

Insider Activity at Dycom Industries

In other news, VP Jason T. Lawson sold 220 shares of the firm’s stock in a transaction that occurred on 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 owns 7,793 shares in the company, valued at $1,093,124.11. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 4.28% of the stock is currently owned by company insiders.

Institutional Trading of Dycom Industries

A number of institutional investors have recently modified their holdings of the company. Allspring Global Investments Holdings LLC raised its position in shares of Dycom Industries by 15.7% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 974 shares of the construction company’s stock worth $87,000 after acquiring an additional 132 shares in the last quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management purchased a new position in Dycom Industries in the 3rd quarter worth about $240,000. NBC Securities Inc. bought a new position in Dycom Industries during the 3rd quarter valued at about $698,000. Victory Capital Management Inc. lifted its position in Dycom Industries by 17.0% during the third quarter. Victory Capital Management Inc. now owns 8,633 shares of the construction company’s stock valued at $768,000 after purchasing an additional 1,253 shares during the period. Finally, Assenagon Asset Management S.A. grew its position in Dycom Industries by 791.3% in the 3rd quarter. Assenagon Asset Management S.A. now owns 117,864 shares of the construction company’s stock worth $10,490,000 after purchasing an additional 104,640 shares during the period. 98.33% of the stock is currently 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.