Stephens Increases Dycom Industries (NYSE:DY) Price Target to $140.00

Dycom Industries (NYSE:DY) had its price objective hoisted by Stephens from $120.00 to $140.00 in a research report report published on Wednesday, December 20th, The Fly reports. They currently have an overweight rating on the construction company’s stock.

Other equities analysts have also issued research reports about the stock. Deutsche Bank started coverage on shares of Dycom Industries in a report on Tuesday, September 26th. They set a buy rating and a $103.00 price objective on the stock. Canaccord Genuity dropped their price objective on shares of Dycom Industries from $120.00 to $110.00 and set a buy rating on the stock in a report on Thursday, August 31st. Craig Hallum reiterated a buy rating and set a $90.00 price objective (down previously from $115.00) on shares of Dycom Industries in a report on Thursday, August 31st. They noted that the move was a valuation call. FBR & Co upped their price objective on shares of Dycom Industries from $98.00 to $112.00 and gave the company a buy rating in a report on Wednesday, August 30th. Finally, B. Riley reiterated a buy rating and set a $119.00 price objective (up previously from $98.00) on shares of Dycom Industries in a report on Friday, November 17th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and ten have issued a buy rating to the company. The stock currently has a consensus rating of Buy and an average target price of $115.10.

Shares of Dycom Industries (DY) traded up $2.15 during midday trading on Wednesday, hitting $118.09. 399,385 shares of the stock traded hands, compared to its average volume of 418,426. Dycom Industries has a 52-week low of $73.95 and a 52-week high of $118.68. The firm has a market capitalization of $3,587.04, a price-to-earnings ratio of 27.85, a P/E/G ratio of 2.30 and a beta of 1.38. The company has a quick ratio of 2.86, a current ratio of 3.16 and a debt-to-equity ratio of 1.07.

Dycom Industries (NYSE:DY) last announced its quarterly earnings data on Monday, November 20th. The construction company reported $0.99 earnings per share for the quarter, beating the consensus estimate of $0.90 by $0.09. Dycom Industries had a net margin of 4.46% and a return on equity of 22.49%. The firm had revenue of $756.20 million for the quarter, compared to analyst estimates of $729.35 million. During the same quarter in the prior year, the business earned $1.67 earnings per share. The business’s quarterly revenue was down 5.4% compared to the same quarter last year. sell-side analysts forecast that Dycom Industries will post 4.09 earnings per share for the current fiscal year.

Several large investors have recently bought and sold shares of the company. Vanguard Group Inc. increased its position in shares of Dycom Industries by 0.7% during the second quarter. Vanguard Group Inc. now owns 2,454,547 shares of the construction company’s stock worth $219,732,000 after acquiring an additional 17,420 shares in the last quarter. State Street Corp increased its position in shares of Dycom Industries by 3.3% during the second quarter. State Street Corp now owns 1,023,232 shares of the construction company’s stock worth $91,602,000 after acquiring an additional 32,975 shares in the last quarter. Dimensional Fund Advisors LP increased its position in shares of Dycom Industries by 0.6% during the second quarter. Dimensional Fund Advisors LP now owns 929,812 shares of the construction company’s stock worth $83,236,000 after acquiring an additional 5,163 shares in the last quarter. Federated Investors Inc. PA increased its position in shares of Dycom Industries by 24.1% during the second quarter. Federated Investors Inc. PA now owns 816,246 shares of the construction company’s stock worth $73,070,000 after acquiring an additional 158,312 shares in the last quarter. Finally, Wells Fargo & Company MN increased its position in shares of Dycom Industries by 12.2% during the third quarter. Wells Fargo & Company MN now owns 783,436 shares of the construction company’s stock worth $67,282,000 after acquiring an additional 85,079 shares in the last quarter.

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Dycom Industries Company Profile

Dycom Industries, Inc is a provider of specialty contracting services throughout the United States and in Canada. The Company, through its subsidiaries, provides program management, engineering, construction, maintenance and installation services for telecommunications providers, underground facility locating services for various utilities, including telecommunications providers, and other construction and maintenance services for electric and gas utilities.

The Fly

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