Analysts Set Dycom Industries, Inc. (NYSE:DY) PT at $199.57

Shares of Dycom Industries, Inc. (NYSE:DY) have been assigned an average rating of “Buy” from the seven research firms that are covering the stock, Marketbeat Ratings reports. Six analysts have rated the stock with a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year target price among brokerages that have updated their coverage on the stock in the last year is $199.57.

Several research firms recently issued reports on DY. Wells Fargo & Company increased their target price on shares of Dycom Industries from $185.00 to $200.00 and gave the stock an “overweight” rating in a report on Wednesday, July 17th. StockNews.com downgraded shares of Dycom Industries from a “buy” rating to a “hold” rating in a research report on Friday, July 26th. Bank of America upped their target price on shares of Dycom Industries from $198.00 to $204.00 and gave the stock a “buy” rating in a report on Friday, August 23rd. KeyCorp raised their price target on Dycom Industries from $195.00 to $200.00 and gave the company an “overweight” rating in a report on Thursday, August 22nd. Finally, B. Riley upped their price objective on Dycom Industries from $205.00 to $208.00 and gave the stock a “buy” rating in a research note on Thursday, August 22nd.

Dycom Industries Stock Down 3.2 %

DY opened at $186.72 on Friday. The firm’s 50 day simple moving average is $182.95 and its two-hundred day simple moving average is $167.02. The company has a market capitalization of $5.43 billion, a PE ratio of 24.06, a PEG ratio of 2.09 and a beta of 1.41. Dycom Industries has a 1-year low of $78.42 and a 1-year high of $199.77. The company has a current ratio of 3.44, a quick ratio of 3.25 and a debt-to-equity ratio of 0.81.

Dycom Industries (NYSE:DY) last released its earnings results on Wednesday, August 21st. The construction company reported $2.46 earnings per share for the quarter, beating the consensus estimate of $2.26 by $0.20. The company had revenue of $1.20 billion for the quarter, compared to the consensus estimate of $1.20 billion. Dycom Industries had a return on equity of 22.28% and a net margin of 5.37%. Dycom Industries’s quarterly revenue was up 15.5% compared to the same quarter last year. During the same period in the previous year, the business earned $2.03 earnings per share. As a group, equities analysts forecast that Dycom Industries will post 8.02 EPS for the current year.

Insider Buying and Selling at Dycom Industries

In other news, VP Jason T. Lawson sold 856 shares of the stock in a transaction that occurred on Thursday, July 11th. The stock was sold at an average price of $174.48, for a total transaction of $149,354.88. Following the completion of the transaction, the vice president now directly owns 6,937 shares in the company, valued at approximately $1,210,367.76. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 4.28% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Anchor Investment Management LLC lifted its stake in shares of Dycom Industries by 50.4% in the 2nd quarter. Anchor Investment Management LLC now owns 194 shares of the construction company’s stock valued at $33,000 after purchasing an additional 65 shares during the last quarter. Ironwood Investment Management LLC lifted its position in Dycom Industries by 0.4% in the second quarter. Ironwood Investment Management LLC now owns 14,625 shares of the construction company’s stock worth $2,468,000 after buying an additional 58 shares during the last quarter. Creative Planning boosted its stake in Dycom Industries by 62.5% during the second quarter. Creative Planning now owns 5,505 shares of the construction company’s stock worth $929,000 after buying an additional 2,117 shares during the period. Algert Global LLC increased its position in Dycom Industries by 6.3% during the second quarter. Algert Global LLC now owns 23,319 shares of the construction company’s stock valued at $3,935,000 after acquiring an additional 1,379 shares during the last quarter. Finally, Susquehanna Fundamental Investments LLC bought a new position in Dycom Industries during the second quarter valued at $979,000. Hedge funds and other institutional investors own 98.33% of the company’s stock.

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.