Brokerages Set Dycom Industries, Inc. (NYSE:DY) Price Target at $206.13

Dycom Industries, Inc. (NYSE:DY) has earned a consensus recommendation of “Buy” from the eight ratings firms that are presently covering the stock, Marketbeat.com reports. Seven equities research analysts have rated the stock with a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month target price among brokers that have covered the stock in the last year is $206.13.

Several brokerages have issued reports on DY. Bank of America raised their price target on Dycom Industries from $198.00 to $204.00 and gave the company a “buy” rating in a report on Friday, August 23rd. KeyCorp raised 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. B. Riley upped their price target 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. Wells Fargo & Company raised their price objective on shares of Dycom Industries from $200.00 to $215.00 and gave the stock an “overweight” rating in a research report on Friday, November 15th. Finally, DA Davidson reaffirmed a “buy” rating and issued a $210.00 target price on shares of Dycom Industries in a research report on Tuesday, November 19th.

Hedge Funds Weigh In On Dycom Industries

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Millennium Management LLC boosted its position in shares of 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 acquiring an additional 96,846 shares in the last quarter. State Street Corp lifted its stake in Dycom Industries by 4.0% during the third quarter. State Street Corp now owns 1,158,585 shares of the construction company’s stock worth $228,357,000 after purchasing an additional 44,321 shares during the last quarter. FMR LLC boosted its holdings in shares of Dycom Industries by 2.4% in 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. Hill City Capital LP increased its stake 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. Finally, Principal Financial Group Inc. raised its holdings in shares of Dycom Industries by 4.3% during the 3rd quarter. Principal Financial Group Inc. now owns 666,051 shares of the construction company’s stock worth $131,278,000 after buying an additional 27,370 shares in the last quarter. 98.33% of the stock is owned by institutional investors and hedge funds.

Dycom Industries Stock Performance

DY opened at $179.48 on Wednesday. The company has a quick ratio of 2.93, a current ratio of 3.12 and a debt-to-equity ratio of 0.89. Dycom Industries has a 12-month low of $107.53 and a 12-month high of $207.20. The business has a 50 day moving average of $186.75 and a 200-day moving average of $181.92. The stock has a market cap of $5.24 billion, a price-to-earnings ratio of 23.62, a PEG ratio of 1.45 and a beta of 1.41.

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.