Brokerages Set Dycom Industries, Inc. (NYSE:DY) Target Price at $241.25

Shares of Dycom Industries, Inc. (NYSE:DY) have been assigned a consensus recommendation of “Buy” from the eight research firms that are currently covering the company, Marketbeat reports. Seven analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. The average 12 month price objective among brokerages that have covered the stock in the last year is $241.25.

Several research analysts have commented on the stock. Wall Street Zen upgraded shares of Dycom Industries from a “hold” rating to a “buy” rating in a research report on Saturday, June 14th. UBS Group increased their price objective on Dycom Industries from $234.00 to $258.00 and gave the stock a “buy” rating in a report on Thursday, May 22nd. Raymond James Financial lifted their target price on Dycom Industries from $215.00 to $255.00 and gave the company a “strong-buy” rating in a research note on Thursday, May 22nd. Wells Fargo & Company increased their price target on Dycom Industries from $215.00 to $250.00 and gave the stock an “overweight” rating in a research note on Tuesday, May 27th. Finally, KeyCorp lowered their price target on Dycom Industries from $201.00 to $183.00 and set an “overweight” rating on the stock in a report on Wednesday, April 16th.

Institutional Investors Weigh In On Dycom Industries

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Alyeska Investment Group L.P. acquired a new position in shares of Dycom Industries in the 4th quarter worth $80,584,000. OVERSEA CHINESE BANKING Corp Ltd lifted its stake in Dycom Industries by 851.6% during the first quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 475,637 shares of the construction company’s stock valued at $72,459,000 after buying an additional 425,652 shares in the last quarter. Norges Bank purchased a new stake in Dycom Industries during the fourth quarter valued at about $55,802,000. Assenagon Asset Management S.A. boosted its holdings in shares of Dycom Industries by 327.1% in the first quarter. Assenagon Asset Management S.A. now owns 399,226 shares of the construction company’s stock worth $60,818,000 after buying an additional 305,755 shares during the period. Finally, First Trust Advisors LP increased its position in shares of Dycom Industries by 142.9% in the fourth quarter. First Trust Advisors LP now owns 496,407 shares of the construction company’s stock worth $86,405,000 after acquiring an additional 292,050 shares in the last quarter. 98.33% of the stock is owned by institutional investors and hedge funds.

Dycom Industries Stock Up 1.3%

Shares of Dycom Industries stock opened at $250.36 on Friday. The stock has a market capitalization of $7.24 billion, a price-to-earnings ratio of 31.73, a PEG ratio of 1.41 and a beta of 1.32. Dycom Industries has a twelve month low of $131.37 and a twelve month high of $251.73. The company has a current ratio of 2.89, a quick ratio of 2.68 and a debt-to-equity ratio of 0.80. The business’s 50 day simple moving average is $216.28 and its 200-day simple moving average is $185.02.

Dycom Industries (NYSE:DY) last issued its earnings results on Wednesday, May 21st. The construction company reported $2.09 earnings per share for the quarter, topping the consensus estimate of $1.62 by $0.47. Dycom Industries had a return on equity of 20.04% and a net margin of 4.81%. The firm had revenue of $1.26 billion for the quarter, compared to analyst estimates of $1.19 billion. During the same period last year, the company earned $2.12 earnings per share. The firm’s revenue for the quarter was up 10.2% on a year-over-year basis. Equities research analysts forecast that Dycom Industries will post 7.13 earnings per share for the current year.

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.