Dycom Industries (NYSE:DY) Sets New 1-Year High – Time to Buy?

Shares of Dycom Industries, Inc. (NYSE:DY) reached a new 52-week high during trading on Monday . The stock traded as high as $255.63 and last traded at $254.08, with a volume of 20083 shares changing hands. The stock had previously closed at $252.40.

Analyst Upgrades and Downgrades

DY has been the subject of several research reports. B. Riley upped their price target on shares of Dycom Industries from $200.00 to $265.00 and gave the company a “buy” rating in a research report on Friday, May 23rd. Wall Street Zen upgraded shares of Dycom Industries from a “hold” rating to a “buy” rating in a research report on Saturday, June 14th. Raymond James Financial upped their price target on shares of Dycom Industries from $215.00 to $255.00 and gave the company a “strong-buy” rating in a research report on Thursday, May 22nd. Wells Fargo & Company upped their price objective on shares of Dycom Industries from $215.00 to $250.00 and gave the stock an “overweight” rating in a research report on Tuesday, May 27th. Finally, KeyCorp cut their price objective on shares of Dycom Industries from $201.00 to $183.00 and set an “overweight” rating for the company in a research report on Wednesday, April 16th. Eight analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus target price of $245.00.

Dycom Industries Stock Performance

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 firm has a market capitalization of $7.36 billion, a price-to-earnings ratio of 32.21, a PEG ratio of 1.44 and a beta of 1.32. The stock’s 50 day moving average price is $226.01 and its two-hundred day moving average price is $188.41.

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

Institutional Investors Weigh In On Dycom Industries

Large investors have recently added to or reduced their stakes in the business. Versant Capital Management Inc acquired a new stake in Dycom Industries in the 1st quarter valued at about $28,000. AlphaQuest LLC purchased a new position in Dycom Industries in the 1st quarter valued at about $37,000. EverSource Wealth Advisors LLC lifted its holdings in Dycom Industries by 26.3% in the 4th quarter. EverSource Wealth Advisors LLC now owns 341 shares of the construction company’s stock valued at $59,000 after purchasing an additional 71 shares in the last quarter. GeoWealth Management LLC lifted its holdings in Dycom Industries by 35.9% in the 4th quarter. GeoWealth Management LLC now owns 348 shares of the construction company’s stock valued at $61,000 after purchasing an additional 92 shares in the last quarter. Finally, Anchor Investment Management LLC lifted its holdings in Dycom Industries by 37.5% in the 4th quarter. Anchor Investment Management LLC now owns 367 shares of the construction company’s stock valued at $64,000 after purchasing an additional 100 shares in the last quarter. 98.33% of the stock is owned by institutional investors and hedge funds.

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.