Brokerages Set Dycom Industries, Inc. (NYSE:DY) PT at $205.57

Shares of Dycom Industries, Inc. (NYSE:DY) have received an average rating of “Buy” from the seven research firms that are presently covering the firm, MarketBeat reports. Six research analysts have rated the stock with a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month price objective among brokerages that have updated their coverage on the stock in the last year is $205.57.

DY has been the topic of a number of recent analyst reports. Bank of America upped 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. Wells Fargo & Company upped their price target on Dycom Industries from $200.00 to $215.00 and gave the company an “overweight” rating in a research note on Friday. B. Riley increased their price target on Dycom Industries from $205.00 to $208.00 and gave the stock a “buy” rating in a report on Thursday, August 22nd. StockNews.com lowered shares of Dycom Industries from a “buy” rating to a “hold” rating in a report on Friday, July 26th. Finally, KeyCorp increased their target price on shares of Dycom Industries from $200.00 to $227.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 8th.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. increased its holdings in 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 purchasing an additional 12,395 shares during the period. Millennium Management LLC raised its holdings in Dycom Industries by 6.3% in the second quarter. Millennium Management LLC now owns 1,631,453 shares of the construction company’s stock valued at $275,324,000 after acquiring an additional 96,846 shares in the last quarter. State Street Corp lifted its stake 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 worth $228,357,000 after acquiring an additional 44,321 shares during the last quarter. FMR LLC grew its holdings in Dycom Industries by 2.4% during the 3rd quarter. FMR LLC now owns 772,666 shares of the construction company’s stock worth $152,292,000 after acquiring an additional 17,862 shares in the last quarter. Finally, Hill City Capital LP increased its position in shares of Dycom Industries by 2.3% in the 3rd quarter. Hill City Capital LP now owns 679,784 shares of the construction company’s stock valued at $133,985,000 after purchasing an additional 15,000 shares during the last quarter. Institutional investors and hedge funds own 98.33% of the company’s stock.

Dycom Industries Stock Up 4.4 %

Shares of NYSE:DY opened at $195.83 on Friday. Dycom Industries has a 52-week low of $84.83 and a 52-week high of $207.20. The stock has a market cap of $5.70 billion, a P/E ratio of 24.33, a PEG ratio of 1.55 and a beta of 1.44. The business has a fifty day moving average of $188.73 and a two-hundred day moving average of $178.01. The company has a quick ratio of 3.25, a current ratio of 3.44 and a debt-to-equity ratio of 0.81.

Dycom Industries (NYSE:DY) last announced its quarterly earnings data on Wednesday, August 21st. The construction company reported $2.46 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.26 by $0.20. The firm had revenue of $1.20 billion during the quarter, compared to analyst estimates of $1.20 billion. Dycom Industries had a net margin of 5.37% and a return on equity of 22.28%. Dycom Industries’s quarterly revenue was up 15.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.03 earnings per share. On average, research analysts expect that Dycom Industries will post 7.96 earnings per share for the current year.

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.